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Greenway Development Reserve <br />Joint Town /County Open Space /Greenway Development <br />Capital Project Ordinance <br />Be it ordained by the orange <br />59 of the General Statutes o� r that pursuant to <br />Section 13.2 of Chapter 1 North Carolina, following <br />capital project is hereby adopted. <br />Section 1. The project authorized provides funds to extend un -built portions of the <br />Chapel Hill and Carrboro greenway systems in a fashion to provide future <br />connections to Town and County parks and other open space networks. <br />Funds would be used specifically for trail construction and some land <br />acquisition, as needed. Proceeds from the 2001 voter approved bond <br />referendum finance the project. <br />Section 2. The officers of the County are hereby directed to proceed with the project <br />within the budget contained herein. <br />Section 3. 'The following revenue is anticipated to complete this project: <br />Section 4. The following amount is appropriated for this project: <br />Through FY <br />2006 -07 <br />FY 2007 -08 <br />Through FY <br />2007 -08 <br />Sales Tax <br />2001 Bonds <br />$0- <br />$1,325,000 <br />$0 <br />$0 <br />$0 <br />$1,325,000 <br />2004 Two - thirds Net Debt <br />$0 <br />$0 <br />$0 <br />Fees <br />$0 <br />$0 <br />$0 <br />Transfer from Homestead <br />Aquatics Center Capital <br />$425,000 <br />$0 <br />$425,000 <br />Project <br />Total undingi <br />$1,750,000 <br />$0 <br />$1,750,000 <br />Section 4. The following amount is appropriated for this project: <br />Through FY <br />2006 -07 <br />FY 2007 -08 <br />Through FY <br />2007 -08 <br />Land/Building <br />$0 <br />$Land/Building <br />Planning /Architect/ <br />$0 <br />Engineering <br />$0 <br />$0 <br />Contribution to Carrboro <br />(Adams Tract) <br />$750,000 <br />$0 <br />$750,000 <br />Transfer to Bolin Creek <br />$75,000 <br />Greenway Project <br />$75,000 <br />Other <br />$925,000 <br />$925,000 <br />Total Costs <br />$1,750,000 <br />$0 <br />$1,750,000 <br />