ORD-2007-166 - Finance - Southern Community Park Capital Project Ordinance 06-26-2007 - 6a

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4:� Southern Community Park Capita! Project Ordinance Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized provides funds for the development of park facilities on a parcel of land owned by the Town of Chapel Hill on US 15/501 South. Proceeds from the 1997 and 2001 bonds finance this project. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. Section 4. The following revenue is anticipated to complete this project: The following amount is appropriated for this project: Through FY 2006 -07 FY 2007 -08 Through FY 2007 -08 Sales Tax $0 $0 $0 1997 Bonds $1,000,000 $0 $1,000,000 2001 Bonds $2,000,000 $0 $2,000,000 Transfer from Greenway Development Capital Project $925,000 $0. $925,000 Grant Funds $0 $0 $0 Total Funding $3,925,0001 $0 $3,925,000 The following amount is appropriated for this project: Section 5. This ordinance supersedes previous Southern Community Park Ordinances for Orange County. Section 6. This ordinance shall be in effect from July 1, 1998 until June 30, 2008. Adopted this 26th day of June 2007. Through FY 2006 -07 FY 2007 -08 Through FY 2007 -08 Land/Building $0 $0 $0 Design $0 $0 $0 Construction $0 $0 - $0 Contribution to Town of Chapel Hill $3,925,000 $0 $3,925,000 Total Costs $3,925,000 $0 $3,925,000 Section 5. This ordinance supersedes previous Southern Community Park Ordinances for Orange County. Section 6. This ordinance shall be in effect from July 1, 1998 until June 30, 2008. Adopted this 26th day of June 2007.