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LGC-108A(BACK) <br /> PAGE 2 <br /> D. Additional Loan and Grant procedures for a Capital Project Ordinances <br /> (1) Loans <br /> Pursuant to G.S. 159-26(b)(6), a capital project fund is required to account for all debt <br /> instrument proceeds used to finance capital projects. To facilitate budgetary and accounting <br /> control, it is required that a capital project ordinance, pursuant to G.S. 159-13.2, be adopted <br /> by the governing board authorizing all appropriations necessary for the completion of the <br /> project. Will the unit prepare and adopt a balanced capital project ordinance covering the life <br /> of the project? x YES ❑ NO <br /> (2) Grants <br /> To facilitate budgetary and accounting control, it is required that a grant project ordinance, <br /> pursuant to G.S. 159-13.2, with a corresponding capital project fund, be adopted by the <br /> governing board authorizing all appropriations necessary for the completion of the project. <br /> Will the unit prepare and adopt a balanced capital project ordinance covering the life of the <br /> prom ect? x YES ❑ NO <br />