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• 13 <br /> Future Projects Reserve <br /> Orange County Schools <br /> Capital Project Ordinance <br /> Project Number 64-860-7013 <br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of <br /> Chapter 159 of the General Statutes of North Carolina,the following capital project is hereby adopted. <br /> Section 1. The project authorized establishes a reserve fund for future Orange County Schools capital <br /> projects. This project will be financed with proceeds from the Schools'portion of the one- <br /> 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 /> Transfer from School Capital Reserve Fund $35,295 <br /> Transfer from General Fund(1993-94) $3,112 <br /> Transfer from General Fund(1995-96) $4,099 <br /> Transfer from General Fund(1997-98) $104,722 <br /> Total Revenue $147,228 <br /> Section 4. A portion of the available funds for this project have been transferred to the Orange High <br /> School Renovations Capital Project. The following amendment is anticipated to complete <br /> this transfer: <br /> Transfer to OHS Renovations Capital Project $31,943 <br /> Section 5. The following amount remains appropriated for this project: <br /> Future Projects Reserve $115,285 <br /> Section 6. This ordinance supersedes all previous Future Projects Reserve Capital Project <br /> Ordinances for the Orange County Schools System. <br /> Section 7. This ordinance shall be in effect until June 30, 1998. <br /> Adopted this 21st day of october, 1997. <br /> \\Budget\sys\BUDGET x979 8\ORDS9798\SCHCAP\OCRESERV.DOC <br />