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Attachment 4 v (ZD - a o (o - o Co 3 <br />Loan Pool Reserve <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 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 <br />Section 3. <br />Section 4. <br />Section 5. <br />Section 6. <br />The officers of the County are hereby directed to proceed with the project <br />within the budget contained herein. <br />The following revenue is anticipated to complete this project: <br />The following amount is appropriated for this project: <br />Through FY <br />2009 -10 <br />CIP 2010 -11 <br />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 <br />$0 <br />$0 <br />$0 <br />2004 Two-thirds Net Debt <br />$0 <br />$0 <br />$0 <br />Debt Financing <br />$0 <br />$0 <br />$0 <br />Other <br />$0 <br />$0 <br />$0 <br />Total Fundingl <br />$160,0001 <br />$200,0001 <br />$350,000 <br />The following amount is appropriated for this project: <br />This ordinance supersedes all previous Loan Pool Reserve Capital <br />Project Ordinances for Orange County. <br />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 />L <br />Through FY <br />2009 -10 <br />CIP 2010 -11 <br />Through FY <br />2010 -11 <br />Land/Building <br />$0 <br />$0 <br />$0 <br />Design <br />$0 <br />$0 <br />$0 <br />Construction <br />$0 <br />$0 <br />$0 <br />PIMS Project <br />$0 <br />$0 <br />$0 <br />Other <br />$150,000 <br />$200,000 <br />$350,000 <br />Total Costs <br />$150,000 <br />$200,000 <br />$350,000 <br />This ordinance supersedes all previous Loan Pool Reserve Capital <br />Project Ordinances for Orange County. <br />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 />L <br />