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9 <br /> 1 proposal to the NC Specialty Crops Program for the Piedmont Food and Agricultural Processing <br /> 2 Center. <br /> 3 i. Business Plan for the Piedmont Food and Aaricultural Processinp Center <br /> 4 The Board received the business plan for the Piedmont Food &Agricultural Processing Center <br /> 5 and authorized the staff to continue with the establishment of the Piedmont Food &Agricultural <br /> 6 Processing Center. <br /> 7 i Fiscal Year 2009-10 Budaet Amendment#10 <br /> 8 The Board approved budget, grant and capital project ordinance amendments for Fiscal Year <br /> 9 2009-10 for Department of Environment, Agriculture, Parks and Recreation; Economic <br /> 10 Development; Department on Aging; Economic Development (Value-Added Processing Center <br /> 11 Capital Project Ordinance); Board of Elections; and Emergency Services Department. <br /> 12 k. Appropriation of General Fund Balance to Fund Existina Countv Capital Proiects <br /> 13 The Board approved the appropriation of$1,739,270 in General Fund Balance to provide <br /> 14 funding for 11 County Capital Projects which have a shortfall. <br /> 15 1. Appropriations of Solid Waste Fund Balance for the Lands Leaacv Proiect <br /> 16 The Board approved appropriating $50,000 from the Solid Waste Fund Balance to provide <br /> 17 funding for the Lands Legacy Project. <br /> 18 m. The Establishment of a Countv Capital Reserve Fund <br /> 19 The Board established a County Capital Reserve Fund for future County Capital needs by <br /> 20 approving the attached resolution. <br /> 21 <br /> 22 RESOLUTION <br /> 23 ESTABLISHMENT OF THE COUNTY CAPITAL RESERVE FUND <br /> 24 <br /> 25 WHEREAS, there is a need in Orange County, North Carolina to accumulate funds for future <br /> 26 County Capital needs; <br /> 27 <br /> 28 NOW, THEREFORE, BE IT RESOLVED BY THE ORANGE COUNTY BOARD OF <br /> 29 COMMISSIONERS THAT: <br /> 30 <br /> 31 Section 1. The Governing Board hereby creates a Capital Reserve Fund for the purpose of <br /> 32 funding future County capital needs. <br /> 33 <br /> 34 Section 2. The fund will remain operational until such time as it is no longer needed. <br /> 35 <br /> 36 Section 3. The County Capital Reserve Fund will be funded by: <br /> 37 - Pay as you go funds (i.e. property tax, sales tax) <br /> 38 - General Obligation Bonds <br /> 39 - Alternative Financing <br /> 40 - Other revenue sources the Board of Commissioners chooses to dedicate <br /> 41 <br /> 42 Section 4. The Board of County Commissioners may designate funds to be reserved for a <br /> 43 specific future project that will be tracked individually, until the funds are appropriated for a <br /> 44 s ecific ca ital ro'ect in th <br /> p e Count Ca ital Pr � <br /> p p J y p o�ects Fund. <br /> 45 <br /> 46 Section 5. This resolution shall become effective upon adoption. <br /> 47 <br /> 48 n. Close Completed Countv Caqital Proiects <br /> 49 The Board approved the closing of 26 completed County Capital Projects. <br />