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5 <br /> 228 South Churton Street Project <br /> Capital Project Ordinance <br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 <br /> of Chapter 159 of the General Statutes of North Carolina,the following capital project is hereby adopted. <br /> Section 1. The project authorized provides funds to purchase and renovate property located at 228 South <br /> Churton Street in Hillsborough. Upon completion of the renovations,the Department of <br /> Purchasing and Central Services will locate to the facility. Financing for the project includes <br /> proceeds from a third party financing arrangement and a portion of the County's one-half cent <br /> sales taxes. <br /> Section 2. The officers of the County are hereby directed to proceed with the project within the budget <br /> contained herein. <br /> Section 3. The following revenue is anticipated to complete this project: <br /> Through FY Through F Y <br /> 1998-99 FY 1999-00 1999-00 <br /> es ax $0 $0 <br /> 2/3 Net Debt <br /> Reduction Bond <br /> Funds $0 $0 $0 <br /> Private Placement $0 $296,000 $296,0(X <br /> Grant Funds $0 $0 <br /> Transfer from General <br /> Fund(99/00) $0 $100,000 $100,000 <br /> Total Fundingi so ! $396,0001 $396,Ml <br /> Section 4. The following amount is appropriated for this project: <br /> Through FY Through FY <br /> 1998-99 FY 1999-00 1999-00 <br /> Land/Building $0 $296,007 $296,0 <br /> resign $0 $15,0 <br /> Construction 1 $0 $85,0001 $85,000 <br /> 01117FT $0 $U $0 <br /> , - 1 $396UUU 1 Z0JY6UW <br /> Tota Tuosts 1 $0 , , <br /> Section 5. This ordinance shall remain in effect from July 1, 1998 until June 30, 2001. <br /> Adopted this 29'day of June 2000. <br />