Orange County NC Website
aoe'7 <br />Lands Legacy <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to <br />Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following <br />capital project is hereby adopted. <br />Section 1. The project authorized provides funds to protect identified natural areas <br />and prime forestlands, and preserve critical cultural and archaeological <br />sites. In addition funds may be used to acquire lands for future park sites, <br />farmland conservation. easements, and nature preserves. Proceeds from <br />the 2001 voter approved bonds, 2004 Two - thirds net debt reduction <br />bonds, half -cent sales tax, Subdivision Payment -in -Lieu funds, Grant <br />Funds, and alternative financing 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 />$3,966,016 <br />$0 <br />$3,966,016 <br />1997 Bonds <br />$2,700,000 <br />$0 <br />$2,700,000 <br />2001 Bonds <br />$5,250,000 <br />$0 <br />$5,250,000 <br />2004 Two - Thirds Net Debt <br />$300,000 <br />$0 <br />$300,000 <br />Grant Funds <br />$421,950 <br />$0 <br />$421,950 <br />Fees <br />$0 <br />$0 <br />$0 <br />Other(Transfer from Other <br />Funds) <br />$2,191,611 <br />$0 <br />$2,191,611 <br />Total Funding, <br />$14,829,577 <br />$0 <br />$14,829,577 <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 />$14,829,577 <br />$0 <br />$14,829,577 <br />Design <br />$0 <br />$0 <br />$0 <br />Construction <br />$0 <br />$0 <br />$0 <br />Total Costs <br />$14,829,577 <br />$0 <br />$14,829,577 <br />