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`='~~ <br />Conservation Easements <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section <br />13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is <br />hereby adopted. <br />Section 1. The project authorized provides funds for the acquisition of agricultural <br />conservation easements to help preserve County farmland with a priority placed <br />on farms with a strong conservation track record in water supply watersheds. <br />Financing for the project includes proceeds from private placement loans and <br />federal grant funds from the USDA Natural Resource Conservation Service. <br />Section 2. The officers of the County are hereby directed to proceed with the project within <br />the budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project: <br /> Through FY <br />2001-02 <br />FY 2002-03 Through FY <br />2002-03 <br />Sales Tax $0 $0 $0 <br />Bond Funds $0 $0 $0 <br />Private Placement $0 $1,000,000 $1,000,000 <br />Grant Funds $0 $784,155 $784,155 <br />Fees $0 $0 $0 <br />Other $0 $0 $0 <br />Total Fundin $0 $1,784,155 $1,784,155 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2001-02 <br />FY2002-03 Through FY <br />2002-03 <br />LarxllBuildi $0 $1,784,155 $1,784,155 <br />Desi $0 $0 $0 <br />CAr~stnxtion $0 $0 $0 <br />Other $0 $0 $0 <br />Total Costs $0 $1,784155 $1,784y155 <br />Section 5. This ordinance supersedes all previous Conservation Easement Capital Project <br />Ordinances for Orange County. <br />Section 6. This ordinance shall be in effect from the date of adoption until June 30, <br />2005. <br />Adopted this 24~' day of March 2003. <br />