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3 <br />Elementary School #$ at Southern Village <br />Chapel Hill-Carrboro City Schools <br />Capital Project Ordinance <br />Project Number 64-880-7716 <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of <br />Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. <br />Section 1. The project authorized provides funds to build Elementary School #8 on property <br />donated at Southern Village. This project will be financed with proceeds from a private <br />placement loan obtained by Orange County. <br />Section 2. The officers of the County are hereby directed to proceed with the project within the <br />budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project: <br /> <br />Prior Years <br />FY 98/99 Total <br />Pro'ect <br />Sales Tax 0 <br />Im act Fees 100,000 100,000 <br />PSBF 0 <br />1992 Bond Funds 0 <br />1997 Bond Funds 0 <br />Financing by Orange County 14,O~.Q,000 750,000 1~50.~ <br />Total Pro'ect Fundin 14,100,000 750,000 13,350,000 <br />Section 4. The following amount is appropriated for this project: <br /> <br />Prior Years <br />FY 98/99 Totai <br />Pro'ect <br />Plannin (Arch/En in 950,000 950,000 <br />Land/Assoc Fees <br />Construction 10,767,500 750,000 10,017,500 <br />E ui ment/Furnishin s 850,000 850,000 <br />Other-Technolo 832,500 832,500 <br />Contin en 700,000 700,000 <br /> <br />Total 14,100,000 (750,000) 13,350,000 <br />Section 5. This ordinance supersedes all previous Southern Village Elementary School Capital <br />Project Ordinances. <br />Section 6. This Ordinance shall remain in effect from June 30, 1997 until June 30, 1999. <br />Adopted this 6th day of May, 1998. <br />