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<br /> Attachment 2. Cedar Ridge High School Construction
<br /> Orange County Schools
<br /> Capital-Project Ordinance
<br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section
<br /> 13.2of 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 to construct a new high school, Cedar Ridge
<br /> High School, in the district, using proceeds from the Schools' portion of impact
<br /> fees, 1997 voter approved bond referendum, savings from Pathways Elementary
<br /> Construction, Certificates of Participation (COP's) (installment purchase
<br /> arrangement), interest earned on the COPs, and transfers from other OCS capital
<br /> projects. Repayment of the installment purchase arrangement will be paid from the
<br /> 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
<br /> budget contained herein.
<br /> Section 3.The following revenue is anticipated to complete this project:
<br /> Through FY 2002-03 Through FY
<br /> 2001-02 Appropriation 2002-03
<br /> Sales Tax 129,679 0 129,679
<br /> Impact Fees 365,321 150,000 515,321
<br /> rans er TrOM Painways
<br /> Elementary School
<br /> Construction Project 1,300,000 0 1,300,000
<br /> rans er From MIS
<br /> Information Technology
<br /> Capital Project 0 225,000 225,000
<br /> 1997 Bond Funds 12,500,000 0 12,500,000
<br /> Certificates o
<br /> Participation COPs 13,6661000 0 13,665,000
<br /> Interest Earnings on CO 0 500,000 500 000
<br /> Total Project Funding, 27,960,000 875,000 28,83 000
<br /> Section 4.The following amount is appropriated for this project:
<br /> Through FY 2002-03 Through FY
<br /> 2001-02 Appropriation 2002-03
<br /> Plannin /Arch/En in Fee 1,650,000 0 1,650 000
<br /> Site Acquisition 679,336 0 679,336
<br /> Site Development 2,306,000 0 2,306,000
<br /> Legal/Fiscal Cost 165,000 0 165,000
<br /> Construction 19,558,190 0 19,558,190
<br /> Moveable Equipment 1 100 000 0 1 100 000
<br /> Technology 1,751,474 0 1,7 1 474
<br /> One-Time Start-U 500 000 875 000 1,375,000
<br /> Contingency 250,000 0 250 000
<br /> Total A ro riation 27,960 000 875,000 1 28,835 000
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