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<br />1 <br />ORD-2014-047 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date:December 9, 2014 <br />Action Agenda <br />Item No.6-e <br />SUBJECT: <br />Application for North Carolina Education Lottery Proceeds for Chapel Hill – <br />Carrboro City Schools (CHCCS) and Contingent Approval of Budget <br />Amendment # 4-ARelated to CHCCSCapital Project Ordinances <br />DEPARTMENT:PUBLIC HEARING: (Y/N)No <br />Finance and Administrative <br />Services <br />ATTACHMENT(S):INFORMATION CONTACT <br />: <br />Attachment 1. CHCCS –Lottery Clarence Grier,(919) 245-2453 <br />Proceeds Debt Service <br />Application <br />PURPOSE: <br />To approve anapplication to the North Carolina Department of Public Instruction <br />(NCDPI) to release proceedsfrom theNC Education Lottery account related to FY 2014-15 <br />debt service payments for Chapel Hill – Carrboro City Schools(CHCCS), and to approve <br />Budget Amendment #4-A (amended School Capital Project Ordinances), contingent on the <br />North Carolina Department of Public Instruction’s (NCDPI) approval of the application. <br />BACKGROUND: <br />Both County School Systems have previously presented approved <br />resolutions from their respective Boards requesting that the County modify its Capital Funding <br />Policy by applying accumulated lottery funds todebt service payments, and permitting current <br />year withdrawalsof lottery proceedsimmediately after the State’s quarterly lottery fund <br />allocations. This policy expedites both the application process and the receipt of funds for both <br />school systems. <br />Currently, the accumulated available lottery proceedsfor Chapel Hill – Carrboro City Schools <br />(CHCCS) is $260,961. The attached application requestsNCDPIto release lottery proceedsin <br />the amount of $260,000 to cover debt service for projects previously financed for the Chapel Hill <br />– Carrboro City School system. <br />Budget Amendment #4-A provides for the receipt of the Lottery Proceeds, contingent on <br />NCDPI’sapproval of the application, and substitutes the amount of Lottery Proceedsapproved <br />for debt serviceas additional Pay-As-You-Go (PAYGO) funds for FY 2014-15 for CHCCS long- <br />range capital needs and projects, and amends the budgets for the following CHCCScapital <br />projects: <br /> <br />