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16 <br /> New High School Project <br /> Orange County Schools <br /> Capital Project Ordinance <br /> Project Number 64-860-7029 <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 <br /> adopted. <br /> Section 1. The project provides funds to construct a new high school for the Orange <br /> County Schools. The project will be financed with proceeds from the School's portion of the <br /> one-half cent sales taxes,proceeds from the November 1997 bond referendum, and a private <br /> placement loan. <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 /> Transfer from General Fund(1997-98) $354,919 <br /> Section 4. The following amount is appropriated for this project: <br /> New High School $354,919 <br /> Section 5. This ordinance shall be in effect from the date of adoption until June 30, 1998. <br /> Adopted this 21st day of October, 1997. <br /> \\Budget\sys\BUDGE'X19798\ORDS9798\SCHCAP\ocnewhs.DOC <br />