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Attachment 4 ~ ~ ~ " a ° ~ o - o ~ 3 6 <br />- - --- --- Loan_P_oolReserve _ `~~ _ <br />----- _ - . <br />------ -- - -- _.--- --_ ___Captal_P_r_oject_Qrdinance <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 establishes a small business loan pool to <br />encourage entrepreneurial business activity in the County. This project <br />provides for the County's Commitment to a loan-loss reserve to address <br />any unpaid loans. Proceeds from the County's portion of the one half cent <br />sales taxes finance this 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 /> Through FY <br />2009-10 <br />C[P 2010-11 Through FY <br />2010-11 <br />Sales Tax and Dedicated <br />Property Tax <br />$150, 000 <br />$200, 000 <br />$350, 000 <br />Bond Funds $0 $0 $0 <br />2004 Two-thirds Net Debt $0 $0 $0 <br />Debt Financing $0 $0 $0 <br />Other $0 $0 $0 <br />Total Funding $15D,000 $200,000 $350,000 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2009-10 <br />CfP 2010-11 Through FY <br />2010-11 <br />LandBuildng $0 $0 $0 <br />Design $0 $0 $0 <br />Construccfion $0 $0 $0 <br />PIMS Project $0 $0 $0 <br />Other $150,000 $200,000 $350,000 <br />Total Costs $150,000 $200,OD0 $350,000 <br />Section 5. This ordinance supersedes all previous :Loan Pool Reserve Capital <br />Project Ordinances for Orange County. <br />Section 6. This ordinance, originally adopted December 1, 1997, shall be in effect <br />until the project is complete and closed by the BOCC. <br />Adopted this 15th day of June 2010. <br />