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Lake Michael <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to <br />Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following <br />capital project is hereby adopted. <br />Section 1. The project authorized provides funds to allow the County to collaborate <br />with the City of Mebane to construct piers, install playground equipment <br />and make other improvements. Proceeds from the County's share of pay- <br />as-you-go capital funds finance the project. <br />Section 2. The officers of the County are hereby directed to proceed with the project <br />within the budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project: <br /> Through FY <br />2007-08 <br />FY 2008-09 Through FY <br />2008-09 <br />Sales Tax $50,000 $25,000 $75,000 <br />2001 Bonds $0 $0 $0 <br />2004 Two-Thirds Net Debt $0 $0 $0 <br />Fees $0 $0 $0 <br />Other $0 $0 $0 <br />Total Funding $50,000 $25,000 $75,000 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2007-08 <br />FY 2008-09 Through FY 2008- <br />09 <br />Land/Building $0 $0 $0 <br />Planning/Architect/E <br />ngineering <br />$0 <br />$0 <br />$0 <br />Construction $0 $0 $0 <br />Contribution to City <br />of Mebane <br />$50,000 <br />$25,000 <br />$75,000 <br />Total Costs $50,000 $25,000 $75,000 <br />Section 5. This ordinance shall be in effect from the original date of adoption, March <br />24, 2003 until June 30, 2009. <br />Adopted this 1st day of May 2008. <br />