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N~~ <br />dive-year period from 1988 through 1993 (hereinafter <br />~. <br />'~-~ the Capital Improvement Plan) in order to address the _~ <br />facilities needs of the County and the two school sys- <br />tems located in the County; and <br />WHEREAS it is impractical to fund the facilities construction <br />and improvements necessary to implement the Capital Im- <br />provement Plan with "pay as we go" revenues generated <br />wholly from the current. property taxes, current sales <br />taxes and other current revenue available tv Orange <br />County; and <br />WHEREAS the Orange County Board of Commissioners proposes im- <br />,.s;~~ plementing the Capital Improvement Plan with the " <br />proceeds of general obligation bonds and with annual _' <br />proceeds of current property taxes, current sales taxe s <br />and other current revenue; and <br />;: ' <br />.` <br />WHEREAS that portion of the Capital Improvement Plan proposed <br />' i~ <br />to be implemented with the proceeds of general obliga- <br />tion bonds ~is as follows: <br />Schools -- <br />`. Orange County Schools $ 9,000,000 <br />Chapel Hi11/Carrboro Schools S13,Op0,D00 <br />Subtotal $22,000,000 <br />County -- <br />Building Projects S 7,000,000 <br />Subtotal $ 7,000,000 <br />J - 2 <br />