ORD-2005-109 - Middle School #3 Orange County Schools Capital Project Ordinance

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Middle School #3 Orange County Schools Capital Project Ordinance ~ ~.,0 _~od 5 - l 0 9 R' ~ 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 prof ect is hereby adopted. Section 1. The project authorized provides funds for the Orange County Schools to obtain options to purchase property for the ultimate design, construction, and equipping of a new middle school facility. Anticipated revenues for the project consist of 2001 voter approved bond funds. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following County revenue is anticipated to complete this project: Through FY 2004-05 FY 2005-06 Through FY 2005-06 Sales Tax $0 $0 $0 c o0 onstruction pact Fees $0 $0 $0 u c coo ui mg Funds $0 $0 $0 2001 Bonds $18,500,000 $0 $18,500,000 Private Placement Loan $3,520,566 $0 $3,520,566 Total Coun Fnndin $22,020,566 $0 $22,020,566 Section 4. The following amount is appropriated for this project: Through FY 2004-05 ~ FY 2005-06 Through FY 2005-06 Constiiufiiion $15,909,959 $0 $15,909,959 Site " 'on $775,005 $0 $775,005 i on (Soils/Maberials Testing, $20,000 $0 $20,000 Site bevel $2,485,602 $0 $2,485,602 Foes ( 'ga) $1,115,000 $0 $1,115,000 Moveable $600,000 $0 $600,000 Te~logy . $650,000 $0 $650,000 Construction Contingency . .$465,000 $0 $465,000 Ono-Time Start Costs $0 ~ $0 $0 Total $22,020,566 $0 $22,020,566 Section 5. In addition, the Orange County Board of Education plans to appropriate the following revenues to the project to cover construction costs.