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Agenda - 02-03-1998 - 9a
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Agenda - 02-03-1998 - 9a
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Last modified
3/23/2017 10:10:52 AM
Creation date
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BOCC
Date
2/3/1998
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
9a
Document Relationships
Capital Project Policy - revision to policy adopted 12-7-1996
(Linked From)
Path:
\Board of County Commissioners\Policies\1998
Minutes - 19961207
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1996
Minutes - 19980203
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1998
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4 <br /> Impact fees will be projected and allocated to each school system, although these fees may be <br /> used to pay debt service. When impact fees are used to pay debt service, the equivalent amount <br /> of the projected impact fee will be allocated to each school system. For the first three years of <br /> the planning period (1997-98, 1998-99 and 1999-2000) impact fees are dedicated to the cost of <br /> the new schools. <br /> All funds allocated to capital projects are to be accounted for in a Capital Project Fund under <br /> a Project Ordinance adopted by the Board of Commissioners. The Project Ordinance will <br /> include a detailed break down of each cost category related to the project, as outlined in the <br /> Sample Capital Project Ordinance at Attachment 1, which is incorporated by reference into <br /> this policy.. <br /> D. Funding Levels <br /> It is the intent of the Board of Commissioners to "hold harmless" School projects and County <br /> projects as identified by the amount of funding projected in the 1996-2006 Capital <br /> Improvements Plan. To achieve this intention,the following funding options will be used: <br /> • The difference between the amount of general obligation debt service payments <br /> at the peak year of the debt schedule and the actual debt service payment will be <br /> earmarked for the Orange County Schools until the time that any shortfall that <br /> would have been realized by that system is made up. <br /> • For County projects,beginning in 1998-99 the equivalent of one cent on the <br /> general fund property tax rate will be necessary. The Board of Commissioners in <br /> adopting this policy instructed staff to identify other funding options rather than a <br /> tax increase to make up this shortfall. The Board of Commissioners may <br /> consider shifting the one cent capital reserve fund to be dedicated to County <br /> projects (see Capital Reserve section below). <br /> E. SchoollParks Capital Reserve <br /> The schoollparks capital reserve fund, established by the Board of Commissioners in 1995- <br /> 96, receives annual allocations equivalent to one cent on the General Fund Property Tax <br /> Rate (not adjusted for the 1997 revaluation of property but adjusted for revaluation of real <br /> property beyond the 1997 revaluation.) This reserve will accumulate during 1996-97 and <br /> 1997-98 with these funds used for site acquisition for schools and or recreation, or the <br /> combination of both. The Board of Commissioners will evaluate this reserve fund during <br /> 1998-99 to determine if this one cent reserve should continue. <br /> F. School/Parks/Recreation <br /> It is the intent of the Board of County Commissioners to evaluate each new proposed school in both <br /> School Districts for joint use to include park and recreation use. <br />
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