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<br />Lands Legacy ~ D _ / a-,, a. pOS
<br />Capital Project Ordinance ~•d
<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 />capita! project is hereby adopted.
<br />Section 1. The project authorized provides funds to protect identified natural areas
<br />and prime forestlands, and 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 from
<br />the 2001 voter approved bonds, 2004 Two-thirds net debt reduction
<br />bonds, half-cent sales tax, Subdivision Payment-in-Lieu funds, Grant
<br />Funds, and alternative financing finance the 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.
<br />Section 4.
<br />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 $3,939,016 $0 $3,939,016
<br />1997 Bonds $2,700,000 $0 $2,700,000
<br />2001 Bonds $3,000,000 $1,750,000 $4,750,000
<br />2004 Two-Thuds 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 Fundin $12,252,577 $2,050,000 $14,302,577
<br />The following amount is appropriated for this project:
<br /> Through FY
<br />2004-OS
<br />FY 2005-06 Through FY
<br />2005-06
<br />Land/Building $12,279,577 $2,050,000 $14,329,577
<br />Design $0 $0 $0
<br />Construction $0 $0 $0
<br />Transfer to Conservation
<br />Easements Capital Project
<br />($27,000)
<br />$0
<br />($27,000)
<br />Total Costs $12,252,577 $2,050,000 $14,302,577
<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 18th day of October 2005.
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