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automation projects; $50,000 far Utilities Extension; and $100,000 for Lands Legacy. The total far the County, based on the current policy, is $3.6 million. The next sheet outlines options 1 and 2. This is where the 60/40 split is an the pay-as- you-go revenues for the schools and the County. This is on line 42. The major differences between option 1 and option 2 are the Cedar Ridge debt. These options are different from the baseline option. In these options, the Public School Building Funds as well as school construction impact fees bath are taken off the tap to pay debt service. Once it is allocated out, the net school debt is $9.8 million. The County related debt is $5.1 million. The net County debt is $4.8 million and for schools and County is $14.6 million without Cedar Ridge, and $16.4 million with Cedar Ridge. She made reference to line 33 and said that this was the change she was referring to far property tax. The current policy has bits and pieces of property tax paying for certain debt issuances. This leaves $368,055 to be added to sales tax. The projected sales tax is added of $9.5 million. This leaves the net amount available for school and County capital projects at $9.2 million for option 1 and $7.5 million for option 2. The three cents property tax dedicated to schools recurring capital remains with the schools for options 1 and 2. The total amount for OCS is $2 million far option 1 and $3 million for option 2. The total amount for CHCCS is $5.5 million for option 1 and $4.9 million for option 2. The total amount for the County would be $4.8 million for option 1 and $4.1 million for option 2. Commissioner Halkiotis said that the bottom line is that, in order to remove the debt from OCS, the County is asking CHCCS to cough up $600,000 and the County to cough up $700,000. He said that the school board members need to understand this next week. He thanked Donna Dean for making this very clear and easy to understand. Donna Dean then explained options 3 and 4. These options are similar to options 1 and 2, with the only difference being the dedication of the 3 cents and the 1-cent. In option 1 and 2, these were separate and distinct {3 cents for schools and 1 cent for the County}. Options 3 and 4 offer an alternative to co-mingle the total 4 cents and put it in the 60140 split, where the schools would get 60°~ and the County would get 40°~. Commissioner Gordon verified that the 1-cent budgeted for county recurring capital used to be the School/Park Reserve Fund. Donna Dean explained each equation for options 3 and 4. This is on page 3 of the handout, Fiscal Year 2005-06 Capital Funding Options. Options 5A, 5B, and 5C are the options requested by Commissioner Jacobs last week. The major difference is, instead of including half of Cedar Ridge debt with OCS, this would remove half of the responsibility. The difference between 5A, 5B, and 5C is that 5A allows far all of the peak debt service to stay with the OCS, while the County would remove one half of the responsibility of their share of Cedar Ridge debt. Option 5B is a 50150 split - OCS is responsible for one half of their share of Cedar Ridge debt and would receive one half of the peak debt service. In option 5C, OCS would be responsible for one half of their share of Cedar Ridge debt and would receive no peak debt service. There is no impact to CHCCS or the County on these three options. Commissioner Jacobs said that if there is a difference in how much OCS get, the money should go somewhere. He asked where it was allocated. Donna Dean said that it is mainly in the peak debt service. With any of the options, it goes away to the County's general fund and it is not reallocated back to the schools. Commissioner Jacobs said that an the charts it just vanished and he suggested putting an asterisk telling exactly where the money went. Donna Dean said that prior to 1996 and prior to the current policy, CHCCS was in a similar situation and they were paying the debt on McDougle Elementary School out of their