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~ -a~-aods <br />`~ ~ <br />Orange Enterprises Capital Project <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 assist Orange Enterprises with <br />the purchase of a building on Elizabeth Brady Road in Hillsborough that <br />would allow them to significantly expand their contract capacity and allow <br />them to locate to a facility that would. serve them for the long-term. <br />Proceeds from a private placement loan and sales tax finance the project. <br />Section 2. The officers of the County are hereby directed to proceed with the project <br />within budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project: <br /> Through FY <br />2004-OS <br />FY 2005-06 Through FY <br />2005-06 <br />Sales Tax $0 $100,000 $100,000 <br />Bond Funds $0 $0 $0 <br />2004 Two-Thirds Net Debt $0 $0 $0 <br />Non-Bond Debt Funding $525,000 $0 $525,000 . <br />Fees $0 $0 $0 <br />Other $0 $0 $0 <br />Total Funding $525,000 $100,000 $625,000 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2004-OS <br />FY 2005-06 Through FY <br />2005-06 <br />I.and/Buildin $525,000 $100,000 $625,000 <br />Design $0 $0 $0 <br />Construction $0 $0 $0 <br />Other $0 $0 $0 <br />Total Costs $525,000 $100,000 $625,000 <br />Section 5. This ordinance shall be in effect from the original date of adoption, March <br />24, 2003, until June 30, 2006. <br />Adopted this 23rd day of June 2005. <br />