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3 <br /> (New) Elementary School- Hillsborough Elementary <br /> Orange County Schools <br /> Capital Project Ordinance <br /> Project Numb 64-860-7012 <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 address future elementary school space for the Orange <br /> County School System. The project will be financed with proceeds from the Schools'portion of <br /> the one half cent sales taxes and impact fees <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 Impact Fees Fund(1995-96) $423,750 <br /> Transfer from A.L.Stanback Renovation(1995-96) $50,000 <br /> Total Revenue S473.75 <br /> Section 4. The following amount is appropriated for this project: <br /> New Elementary School $473,750 <br /> Section 5. This ordinance shall remain in effect from the date of adoption until June 30, 1996. <br /> Adopted thisl9th day of March, 1996. <br /> m:lbudget\9596\ords\schcapbcelres <br />