ORD-2005-007 - Budget Amendment #8

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High School #3 ATTACHMENT 3 Chapel Hill - Carrboro City Schools Capital Project Ordinance Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized provides funds for the Chapel Hill - Carrboro City Schools to acquire property for and begin planning for the design, construction, and equipping of a new high school facility. Anticipated revenues for the project consist of 2001 voter approved bond funds, school construction impact fees, and a private placement loan. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following revenue is anticipated to complete this project: Section 4. The following amount is appropriated for this project: Through 2003 -04 FY 2004 -05 Through 2004 -05 Sales Tax $0 $0 $0 School onstruction Irnpact Fees $5,272,523 $1,100,000 $6,372,523 Public SchooFBuildlng Funds $0 $0 $0 2001 Bonds $0 $0 $0 Other 1 $0 $0 $0 Total Fanding 1 $5,272,523 1 $1,100,000 $6,372,523 Section 4. The following amount is appropriated for this project: Section 5. The effective date of this ordinance is the effective date of an interlocal agreement governing this project between the Chapel Hill - Carrboro Board of Education and the Orange County Board of Commissioners. The ordinance will remain in effect from its effective date through June 30, 2007. Adopted this 15th day of February, 2005. Through FY 2003 -04 FY 2004 -05 Through FY 2004 -05 Construction $0 $0 Site Acquisition $3,677,700 $0 $3,677,700 Site Development $0 $0 $0 Fees $1,103,000 $1,100,000 $2,203,000 Wbile Classroorm $491,823 $0 $491,823 Technology $0 $0 Construction Confingency $0 $0 One -Time Start up Costs $0 $0 Total $5,272,523 $1,100,000 $6,372,523 Section 5. The effective date of this ordinance is the effective date of an interlocal agreement governing this project between the Chapel Hill - Carrboro Board of Education and the Orange County Board of Commissioners. The ordinance will remain in effect from its effective date through June 30, 2007. Adopted this 15th day of February, 2005.