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<br />a2 3 ~' ono 5 ATTACEIMENT 7
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<br />Recreation and Parks Facilities -Lands Legacy
<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 provides funds to protect identified natural areas
<br />and prime forestlands, a.nd preserve critical cultural and archaeological
<br />sites. In addition funds may be used to acquire lands for future park sites,
<br />farmland conservation easements, and nature preserves. Proceeds
<br />from the 2001 voter approved bonds, half-cent sales tax, Subdivision
<br />.Payment-in-Lieu funds, Grant Funds, and alternative financing finance the
<br />project.
<br />Section 2. .The officers of the County are hereby directed to proceed with the project
<br />within the budget contained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through FY
<br />2003-04
<br />FY 2004-05 Through FY
<br />2004-OS
<br />Sales Tax $3,966,016 $27,000 $3,939,016
<br />1997 Bonds $2,700,000 $0 $2,700,000
<br />2001 Bonds $1,750,000 $1,250,000 $3,000,000
<br />2004 Two-Thirds Net Debt $0 $300,000 $300,000
<br />Grant Funds $421,950 $0 $421,950
<br />Fees $0 $0 $0
<br />Other(Transfer from Other
<br />Funds)
<br />$2,191,611
<br />$0
<br />$2,191,611
<br />Total Ftindin $11,029,577 $1,523,000 $12,552,577
<br />Section 4. The following amount is appropriated for this project:
<br /> Through FY Through FI'
<br /> 2003-04 FY 2004-05 2004-05
<br />LandBuildin $11,029,577 $1,406,333 $12,435,910
<br />Desi $0 $0 $0
<br />Construction $0 $0 $0
<br />Transfer to New Hope
<br />Preserve Capital
<br />Pro'ect $0 $143,667 $143,667
<br />Transfer to
<br />Conservation
<br />Easements Capital
<br />Pro'ect $0 $27,000 $27,000
<br />Total Costs $11,029 77 $1,523,000 $12,552 77
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