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18 <br />Orange High School Renovations <br />Orange County Schools <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 provides funds to renovate Orange High School. <br />Renovations funded include improvements to the auditorium, science <br />laboratories, tennis courts and athletic fields along with flooring replacement in <br />'the main gymnasium and construction of an athletic field house. Proceeds from <br />a private placement loan, along with the Schools' share of pay-as-you-go capital <br />funds, finance the 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 />2006-07 <br />FY 2007-08 Through FY <br />2007-08 <br />Sales Tax 1,149,800 $389,000 1,538,800 <br />Bonds 2001) 0 $0 0 <br />Impact Fees 0 $0 0 <br />Private Placement 950,000 $0 950,000 <br />Transfers from <br />Completed Projects <br />0 <br />$0 <br />0 <br />Total Funding 2,099,800 $389,000 2,488,800 <br />Section 4. The following amount is appropriated for this project: <br /> Through FY <br />2006-07 <br />FY 2007-08 Through FY <br />2007-08 <br />Land/Building $50,000 $0 $50,000 <br />Design $0 $0 $0 <br />Construction $2,049,800 $389,000 $2,438,800 <br />Other $0 $0 $0 <br />Total Costs $2,099,800 $389,000 $2,488,800 <br />Section 5. This ordinance shall be in effect from the original date of adoption, March 24, <br />2003, until June 30, 2008. <br />Adopted this 23rd day of October 2007. <br />