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Library Task Force Reserve <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section <br />13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is <br />hereby adopted. <br />Section 1. The project authorized establishes a reserve fund to allow the County to address <br />capital needs identified in the 2007 Library Task Force report. Proceeds from the <br />County's share of one-half cent sales taxes will finance this project. <br />Section 2. The officers of the County are hereby directed to proceed with the project within <br />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 and Dedicated Property Tax $0 $50,000 $50,000 <br />Bond Funds $0 $0 $0 <br />2004 Tv~o Thirds Net Debt $0 $0 $0 <br />Grant Funds $0 $0 $0 <br />Fees $0 $0 $0 <br />Other $0 $0 $0 <br />Total Funding $0 $50,000 $50,000 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2007-08 <br />FY 2UOS~J Through FY <br />2008-09 <br />L.arxVBuilding $0 $0 $0 <br />Design $0 $0 $0 <br />Construction $0 $0 $0 <br />M/AC $0 $50,000 $50,000 <br />Total Costs $0 $50,000 $50,000 <br />Section 5. This ordinance shall remain in effect until June 30, 2009. <br />Adopted this 1st day of May 2008. <br />