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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 />contained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through FY 2004-05 Through FY
<br /> 2003-04 Appropriation 2002-03
<br />Sales Tax 129,679 0 129,679
<br />Im act Fees 515,321 0 515,321
<br />rans er rom a ways
<br />Elementary School
<br />Construction Pro'ect 1,300,000 0 1,300,000
<br />rans er rom
<br />Information Technology
<br />Capital Project 225,000 218,600 6,400
<br />1997 Bond Funds 12,500,000 0 12,500,000
<br />e r ica es o
<br />Partici ation (COPs) 13,665,000 0 13,665,000
<br />Interest Earnin son CO 500,000 0 500,000
<br />Total Pro"ect Fundin 28,835,000 218,600 28,696,400
<br />Section 4. The following amount is appropriated for this project:
<br /> Through FY
<br />2003-04 2004-05
<br />A ro riation Through FY
<br />2004-05
<br />Platnm IArchEn in Fee 1,650,000 0 1,650,000
<br />Site`Ac uistion 679.,335 0 679,336
<br />Site.'Develo Trent 2,3D6;OD~ 0 2,306,000
<br />Le al/Fiscal Cost 165;OflD 0 165,000
<br />Construction 19,558.,:.190 218,000 19,340,190
<br />Moveable E ui menu 1,100;000 0 1,100,000
<br />Technolo 1,751,474 0 1,751,474
<br />One'-Time, Start-U 1,375,000 0 1, 3 7 5,fl00
<br />Contin enc 250'fl00. _ 0 250,000..
<br />TotalA ro riatiorr 28,835;000 (218,000) 28,617,000'
<br />Section 5. This ordinance supersedes all previous Cedar Ridge High School Construction Capita!
<br />Project Ordinances for the Orange County Schools.
<br />Section 6. This ordinance shall remain in effect from July 1, 1998 until June 30, 2004.
<br />Adopted this 23~d day of June 2004.
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