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5 <br /> New Chapel Hill-Carrboro Elementary School <br /> (McDougle Elementary School) <br /> Chapel Hill-Carrboro City Schools <br /> Capital Project Ordinance <br /> Project Number 64-880-7115 <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 provides funds to construct a new elementary school in the Chapel <br /> Hill/Carrboro School District to open in 1996-97. The project will be financed through an installment <br /> purchase arrangement, from sales tax revenue and from impact fee proceeds and from Public School <br /> Building Funds. <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 for this project: <br /> Transfer from Reserve for New Elementary School Capital <br /> Project(1993-94) $81,859 <br /> Transfer from General Fund (1994-95) $673,857 <br /> Transfer from Impact Fees Fund (1994-95) $294,188 <br /> Transfer from Reserve for Future Projects (1995-96) $43,348 <br /> Total Transfers $1,093,252 <br /> Public School Building Fund (1995-96) $836,652 <br /> Proceeds from Installment Purchase $9,600,000 <br /> Total Revenues $11,529,904 <br /> Section 4. The following amount is appropriated for this project: <br /> New Chapel Hill-Carrboro Elementary School Capital Project $11,529,904 <br /> Section 5. This ordinance supersedes all previous New Chapel Hill-Carrboro Elementary School <br /> Capital Project Ordinances for the Chapel Hill-Carrboro City Schools System. <br /> Section 6. This ordinance,originally adopted March 1, 1994, shall be in effect until Tune 30, 1996. <br /> Adopted this 14th day of May, 1996. <br /> m:\biidget\9596\ords\schcap\che lem.word <br />