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5 <br /> POLICY FOR INSERTION INTO THE POLICY MANUAL <br /> MEETING DATE: September 22 , 1987 NUMBER: P: 0290 <br /> EFFECTIVE DATE: September 22 , 1987 REVISIONS: <br /> POLICY• <br /> ORANGE COUNTY CAPITAL POLICIES <br /> 1. Eighty percent (80%) of the original half-cent sales tax <br /> revenue and sixty percent (60%) of the additional half- <br /> cent sales tax revenue shall be dedicated to school <br /> capital expenditures. Such expenditures shall be <br /> limited to acquisitions of or improvements to land, <br /> buildings, and equipment costing $50,000 or more. Any <br /> year in which such revenues exceed such expenditures, <br /> the excess shall be transferred to the School Capital <br /> Reserve Fund. <br /> 2 . Twenty percent (20%) of the original half-cent sales tax <br /> revenue and forty percent (40%) of the additional half- <br /> cent sales tax revenue shall be dedicated to county <br /> capital expenditures. Such expenditures shall be <br /> limited to acquisitions of or improvements to land, <br /> buildings, and equipment costing $30, 000 or more. Any <br /> year in which such revenues exceed such expenditures, <br /> the excess shall be transferred to the County Capital <br /> Reserve Fund. <br /> 3 . The School Capital Reserve Fund shall be used to <br /> accumulate funds for acquisitions of or improvements to <br /> land, buildings, and equipment for school purposes <br /> costing $50, 000 or more. <br /> 4 . The County Reserve Fund shall be used to accumulate <br /> funds for acquisitions of or improvements to land, <br /> buildings, and equipment for county purposes costing <br /> $30, 000 or more. <br /> 5 . A vehicle Capital Reserve Fund shall be established and <br /> used to accumulate funds for the acquisitions of county <br /> vehicles. <br /> 6 . Each year, an amount equal to $800, 000 minus the amount <br /> required for that year's debt service on school bonds <br /> issued prior to the 1987-88 fiscal year shall be <br /> appropriated in the General Fund budget and transferred <br /> to the School Capital Reserve Fund. <br />