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Cedar Ridge High School Construction
<br />Orange County Schools
<br />Capital Project Ordinance
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<br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2of
<br />Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted.
<br />Section 1. The project authorized provides funds to construct a new high school, Cedar Ridge High
<br />School, in the district, using proceeds from the Schools' portion of impact fees, 1997 voter
<br />approved bond referendum, savings from Pathways Elementary Construction, Certificates
<br />of Participation (GOP's) (installment purchase arrangement), interest earned on the COPs,
<br />and transfers from other OCS capital projects. Repayment of the installment purchase
<br />arrangement will be paid from the District's annual portion of the one-half cent sales taxes.
<br />Section 2. The officers of the County are hereby directed to proceed with the project within the budget
<br />coritained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through f=Y FY Through FY
<br /> 200405 2005-06 2005-06
<br />Sales Tax $129,679 $0 $129,679
<br />Im act Fees $515,321 $0 $515,321
<br />raps er rom a ways
<br />Elementary School •
<br />Construction Project $1,300,000 $0 $1,300,000
<br />rans er rom
<br />Information Technology
<br />Capital Project $6,400 $0 $6,400
<br />1997 Bond Funds $12,500,000 $0 $12,500,000
<br />e i ica es o
<br />Participation COPs) $13,665,000 $0 $13,665,000
<br />Interest Eamin son CO $500,000 $0 $500,000
<br />Total Pro'ect Fundin $28,616,400 $0 $28,616,400
<br />Section 4. The following amount is appropriated for this project:
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<br />~.FY.2005 06.,<=` T.h~,oug h F~( ~~
<br />;~ ~~'2005`06~, .J'
<br />f~ ~;rcl~lEn'in. F~
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<br />~ $1;~6~®,t~(~0 ~• ~- '` $0:,
<br />.~: s".,,.,f~~$1,6~'(~;;DDD`
<br />.~. ~9~itiora,,.• _ .< ..~ =- ...`,;$5~~~~'6_ '"--'. $0',' . >~,~679~336`
<br />°~. 1~{,o ment . ~ _~.':9 ~ ~= $2-,30Eb~Ti1~0. `, =~ .~:_; `.;.$0. _=, -.$2,3.0000t)~
<br />_._ _..:_.rs~,l;'iyos.t~ - '~_.. .:~` -=' $~6~~1~,D- °" _-' ... $O;a ~,c' ~$~LBS°;00(
<br />?.._ ,~..~~.~ ~"-~ -~.. __:'$1.9;30-,1'9D ~ : _ ,.$0 .t ~=.'$19.;34fl',~1
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<br />;~ ~~ ~~- .:.~ent _
<br />`~~`; .-~1,100;~~0'
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<br />~:_~:'$,1',10~,,OD~
<br />~~_~_ , ~ ~ ~. ..;. $1;751-;474 .,~ '.. ~ ~- .` $0~`< .T :$~1i751`;~
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<br />Section 5. This ordinance supersedes all previous -Cedar Ridge High School Construction Capital
<br />Project Ordinances for-the Orange County Schools.
<br />Section 6. This ordinance shall remain in effect from July 1, 1998 until June 30, 2006.
<br />Adopted this 23`~ day of June 2005.
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