S ORD-2002-028 Budget Amendment #4

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- Attachment 2 Conservation Easement Capital Project Ordinance Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. ~ Section 1.The project authorized provides funds for the acquisition of agricultural conservation easements to help preserve County farmland with a priority placed on farms with a strong conservation track record in water supply watersheds. Financing for the project includes proceeds from alternative financing methods, such as private placement loans or. certificates of participation (COPs), and federal grant funds from the USDA Natural Resource Conservation Service. In accordance with the grant agreement, the County must provide a dollar for dollar match of the federal grant funds over a three-year period, ending September 30, 2005. Section 2.The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3.The following revenue is anticipated to complete this project: Through FY 2001-02 FY 2002-03 Through FY 2002-03 Sales Tax $0 $0 $0 Bond Funds $0 $0 $0 Private Placement $0 $0 $0 Grant Funds $0 $784 155 $784 155 Fees $0 $0 $0 Other $0 $0 - $0 Total Fundin $0 $784155 $784 155 Section 4.The following amount is appropriated for this project: Tl~rough FY 2001-02 FY 20()~03 ~hrou~gh ~'I' 2002r03 I.arxi/Buil ' $0 $784,155 $784,155 D~si $0 $0 $0 C'.onstitiction $0. $0 $~ ~ ~ ~ ~ Total Costs $0 $784155 $ 155 Section 5, This ordinance supersedes all previous Conservation Easement Capital Project Ordinances for Orange County. Section 6. This ordinance shall remain in effect from September 30, 2002 until September 30, 2005. . y Adopted this 15th day of October 2002.