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6 Attachment 2 POLICY FOR INTO T POLIC'j HA-"Tu=tL FETING DATE: Sectember 22 , 1987 NL'43ER: P: 0290 EFFECTIVE DATE: Sentember 22 , 1987 R 7IISIONS • POLICY: ORMGE COUNTY CAPITAL POLICIES I. Eighty percent (80%) of the original half-cent sales tax revenue and sixty percent (60%) of the additional half- cent sales tax revenue shall be dedicated to school. capital expenditures. Such expenditures shall be limited to acquisitions of or improvements to land, buildings, and equipment costing $50, 000 or more. Any year in which such revenues exceed such expenditures, the excess shall be transferred to the School Capital Reserve Fund. 2 . Twenty percent (20%) of the original half-cent sales tax revenue and forty percent (40%) of the additional half- cent sales tax revenue shall be dedicated to county capital expenditures. Such expenditures shall be limited to acquisitions of or improvements to land, buildings, end_ emi.i,pment costing $30 . 000 car more. Any year in which such revenues exceed such expenditures, the excess shall be transferred to the County Capital Reserve Fund. 3 . The School Capital Reserve Fund shall be used to accumulate funds for acquisitions of or improvements to land, buildings, and equipment for school purposes costing $50, 000 or more. 4 . The County Reserve Fund shall be used to accumulate funds for acquisitions of or improvements to land, buildings, and equipment for county purposes costing $30, 000 or more. 5 . A vehicle Capital Reserve Fund shall be established and used to accumulate funds for the acquisitions of county vehicles. 6 . Each year, an amount equal to $800, 000 minus the amount required for that year' s debt service on school bonds issued prior to the 1987-88 fiscal year shall be appropriated in the General Fund budget and transferred to the School Capital Reserve Fund.