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4 <br />• The County will budget NC Education Lottery proceeds as the revenues are distributed <br />by the State each quarter, once the revenues are identified for an individual school <br />capital project and requested by each district. <br />Debt Service <br />All County and School related debt service obligations would be funded prior to allocation <br />of programmed funding for any other capital purposes. <br />Orange County Schools' impact fees wilt be earmarked to pay for debt service on projects <br />that involved the construction of new school space in the Orange County Schools system. <br />Chapel Hill-Carrboro City Schools' impact fees will be earmarked to pay for debt service <br />_ on projects that involved the construction of new school space in the Chapel Hill-Carrboro <br />City Schools system. These expenditures will be tracked and verified by each district <br />annually. <br />NC Education Lottery Proceeds <br />Each school district will. have the option to dedicate its share of the annual NC Education <br />Lottery monies to address school facility renovation needs or as additional revenue to the <br />districts pay-as-you-go funding to address school facility renovation needs. Annually <br />either district can request that the County dedicate. Lottery proceeds to repay debt service <br />and the county will substitute pay-as-you-go-funding to expedite approved capital projects <br />in the schools capital improvement plan. <br />Allocation <br />Capital funding for each five-year capital planning period will be allocated between the two <br />school districts based on the student membership planning allotments, provided by the NC <br />Department of Public Instruction by March 1 of each year. <br />Capital Project Ordinances -Form and Purpose <br />All funds allocated to capital projects are to be accounted for in a Capital Project Fund as <br />authorized by a Board of County Commissioner approved Capital Project Ordinance. <br />The Capital Project Ordinance will include a detailed break down of each major cost <br />category related to the project. <br />In accordance with. the Board of County Commissioners November 2000 adopted "Policy <br />on Planning and Funding Schoo/ Capital Projects", whenever School capital project bids <br />are either higher or lower than originally projected, or any other factor affecting the project <br />budget occurs, the affected school system is expected to work with County Management <br />and Budget staff to present revised capital project ordinances for adoption by the Board of <br />Commissioners. The same expectations shall be applicable for changes to County Capital <br />project budgets. <br />Community Use ofi Schools <br />It is the. intent of the Board of County Commissioners to evaluate -each new proposed <br />school in both School Districts for joint community use opportunities, including, but not <br />limited to, park and recreation use. <br />