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Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the <br />General Statutes of North Carolina, the following capital project is hereby adopted. <br />Section 1. The project authorized will provide funds to purchase a facility, perform necessary building renovations and <br />establish a Skills Development Center located at 501/503 West Franklin Street in Chapel Hill. Proceeds from <br />the County's portion of the one-half cent sales taxes, appropriations from the County Capital Fund Balance, <br />and private placement funding finance this project. <br />Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. <br />999 <br />Section 3. The following revenue is anticipated to complete this project: <br />Section 4. A Transfer from General Fund (1994-95) $25,000 <br />portio Transfer from General Fund (1996-97) ?QQ 240 <br />n of <br />the Total Transfers $124,240 <br />availa <br />ble Appropriated Fund Balance (1996-97) $45,000 <br />funds Appropriated Fund Balance (1997-98) X40 <br />for Total Appropriated Fund Balance $71,340 <br />this <br />projec proceeds from Private Placement Funding (1996-97) $1,200,000 <br />t have <br />been Procees from Private Placement Funding (1997-98) szaa 000 <br />transf Total Transfers $1,980,000 <br />erred <br />to the Total Revenu e $2,175,580 <br />Gener <br />al Fund for repayment of debt service associated with the private placement funding and for upkeep and <br />mainten ance for 501 West Franklin Street. <br />Section 5. The Transfer to General Fxrnd (1996-97) $119,240 <br />following amount remains appropriated for this project: <br />Skills Development Center Project $2,056,340 <br />Section 6. This ordinance supersedes all previous Skills Develo?iment Capital Pr ject Ordinances <br />Section 7. This ordinance, originally adopted June 28, 1994, shall be in effect from July 1. 1994 until June 30, 1998. <br />d. Orange County Raceway Contract <br />This item was moved to the end of the Consent Agenda for separate consideration. <br />e. Dry Run - Preliminary Plan <br />This item was moved to the end of the Consent Agenda for separate consideration. <br />f. Resolution Modifying Approvals for Skills Development Center Financing <br />The Board approved a resolution designating financing for the Skills Development Center <br />renovations as 1998 qualified tax-exempt obligations as stated below: <br />Resolution Modifying Approvals for Skills Development Center Financing <br />Whereas: