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Gravelly Hill Middle School <br />Orange County Schools <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of <br />Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. <br />Section 1. The project authorized provides funds for the Orange County Schools to purchase property <br />and design, construction, and equipping of a new middle school facility. Anticipated <br />revenues for the project consist of pay-as-you-go funding (transfer from General Fund and <br />Sales Tax Reimbursements), 2001 voter approved bond funds, a private placement loan, <br />and a transfer from the County Capital Fund. <br />Section 2. The officers of the County are hereby directed to proceed with the project within the budget <br />contained herein. <br />Section 3. The following County revenue is anticipated to complete this project: <br />Section 4. The following amount is appropriated for this project: <br />Through FY <br />2006-07 <br />FY 2007-08 <br />�Through FY <br />2007-08 <br />Pay- _As-You-Go (Transfer <br />from General Fund) <br />$802,000 <br />$0 <br />$802,000 <br />Transf r trom County <br />Capital Fund <br />$60,000 <br />$0 <br />$60,000 <br />Sales Tax <br />Reimbursements <br />$300,000 <br />$0 <br />$300,000 <br />2001 Bonds <br />$18,500,000 <br />$0 <br />$18,500,000 <br />1 Private Placement Loan <br />so, <br />$o <br />0 <br />1 Total County Funding <br />l $23,222,000 <br />1 $01 <br />$23,222,000 <br />Section 4. The following amount is appropriated for this project: <br />-mrough FY <br />2007-08 <br />wi • L;j-&-a <br />Site Acquisition <br />(Soils/Werials Testing, <br />'Surveys) <br />,.If NMI <br />IW.ZZI- AJ(g <br />We Wel <br />Construction ■ <br />Continge cy <br />'r • 111 <br />'r 1 <br />'r • 111 <br />UNEZ111 F.71 a 9 a W <br />Le <br />I 7r; <br />