Agenda - 10-23-2007-4i - Laserfiche WebLink

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ti ATTACHMENT 4 West Ten -Soccer Complex Capital Project Ordinance Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. Section 1. The project authorized provides funds for the development of a six-field soccer complex adjacent to the Orange County .Middle School #3 site through a collaborative effort between Orange County and Orange County Schools. Proceeds from the 2001 voter approved Soccer Superfund bonds, 2004 Two-thirds net debt reduction bonds, grant funds and alternative financing will finance this project. Section 2. The officers of the County are hereby directed to proceed with the project within the budget contained herein. Section 3. The following revenue is anticipated to complete this project: Through FY 2006-07 FY 2007-08 Through FY 2007-08 Sales. Tax $0 $0 $0 2001 Bonds $0 $0 $0 2004 Two-Thirds Net Debt $350,000 $0 $350,000 Grant Funds $0 $33,128 $33,128 Alternative Financing $2,267,000 $0 $2,267,000 Transfer from Soccer Superfund 2001 Bonds $1,350,000 $0 $1,350,000 Total Fundin $3,967,000 $33,128 $4,000,128 Section 4. The following amount is appropriated for this project: Through FY 2006-07 FY 2007-08 Through FY 2007-08 Land Ac uisition $508,500 $0 $508,500 Planning/Arch/Engineering $119,000 $0 $119,000 Construction $3,339,500 $33,128 $3,372,628 Other $0 $0 $0 Total Costs $3,967,000 $33,128 $4,000,128 Section 5. This ordinance shall be in effect until June 30, 2009. Adopted this 23rd day of October 2007.