Agenda - 09-03-1996 - VIII-I - Laserfiche WebLink

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7 Skills Development Center Project Capital Project Ordinance Project Number 61-419 Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized will provide funds to purchase a facility and establish a Skills Development Center. This facility located 1501/503 West Franklin Street in Chapel Hill. This project will be financed with proceeds from the County's portion of the one-half cent sales taxes, a appropriation from the County Capital Fund Balance, and private placement. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following revenue is anticipated to complete this project: Transfer from General Fund(1994-95) $25,000 Transfer from General Fund(1996-97) $99,240 Total Transfers $124,240 Appropriated Fund Balance (1996-97) $45,000 Proceeds from Private Placement Funding (1996-97) $1,200.000 Total Revenue $1,369,240 Section 4. A portion of the available funds for this project have been transferred to the General Fund for repayment of debt service associated with the private placement funding and for upkeep and maintenance for 501 West Franklin Street. Transfer to General Fund(1996-97) $119,240 Section 5. The following amount remains appropriated for this project: Skills Deve%pmxnt Center Project $1,250,000 Section 6. This ordinance supersedes all previous Skills Development Capital Project Ordinances. Section 7. This ordinance, originally adopted June 28, 1994, shall be in effect from July 1, 1994 until June 30, 1997. Adopted this 3rd day of September, 1996.