ORD-2005-128 - Approval of School and County Capital Project Ordinances

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Utility Extension Development Project 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 to recapitalize the fund to assist with the extension of water and /or sewer lines for economic development projects, particularly in the Economic Development Districts. Pay- as -you- go funds will finance this project. 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 FY 2004 -05 FY 2005 -06 Through FY 2005 -06 Sales Tax $0 $25,000 $25,000 Bond Funds $0 $0 $0 Private Placement $0 $0 $0 Fees $0 $0 $0 Transfer from General Fund (property taxes) $205,000 $0 $205,000 Total Funding, $205,000 $25,000 $230,000 The following amount is appropriated for this project: Section 5. The following amount has been transferred from this project to the General Fund. The following amendment is anticipated to complete the transfer: Through FY 2004 -05 FY 2005 -06 Through FY 2005 -06 Land/Building $ 0 $ 0 $ 0 Design $0 $0 $0 Construction $ 0 $ 0 $ 0 Other $205,05 $25,000 $230,000 Total Costsi $205,000 $25,000 $230,000 Section 5. The following amount has been transferred from this project to the General Fund. The following amendment is anticipated to complete the transfer: Through FY Through FY 2004 -05 FY 2005 -06 2005 -06 Transfer to General Fund (2002- 03) $165,000 $0 $165,000 Total Costs $165,000 $0 $165,000