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<br /> Lands Legacy
<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 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. The following revenue is anticipated to complete this project:
<br /> Through FY Through FY
<br /> 2004-05 FY 2005-06 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-Thirds Net Debt s0 $300,000 $300,000
<br /> Grant Funds $421,950 $0 $421,950
<br /> Fees $o $o $0
<br /> Other(Transfer from Other
<br /> Funds) $2,191,611 $0 $2,I91,611
<br /> Total Fundingi $12,252,577 $2,050,000 $14,302,577
<br /> Section 4. The following amount is appropriated for this project:
<br /> Through FY Through FY
<br /> 2004-05 FY 2005-06 2005-06
<br /> Land/Building $12,279,577 $2,050,000 $14,329,577
<br /> Design $0 $0 $0
<br /> Construction $0 $0 so
<br /> Transfer to Conservation
<br /> Easements Capital Project ($27,000) $0 ($27,000)
<br /> Total Costs 512,252,577 $2,050,000 1 $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 15th day of November 2005.
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