Agenda - 06-26-2007-6a - Laserfiche WebLink

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Carrboro High School (Formerly High School #3) Chapel Hill-Carrboro City Schools 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 I.The project authorized provides funds for the Chapel Hill-Carrboro City Schools to acquire property for, and to design, construct, and. equip a new high school facility to be located on Rock Haven Road, in the vicinity of the intersection of Smith Level Road and Culbreth Road. Anticipated revenues.-for the _project consist of 2001 voter approved bond funds, school construction impact fees, pay -as- you -'go funding, sales tax reimbursements, and alternative financing through a private placement loan or similar debt instruments. 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: Section 4.The following amount is appropriated for this project: 2006-07 FY 2007-08 inrougn F I 2007-08 Sales Tax $4,342,000 $1,447,344 $5,789,344 School Construction Impact Fees $9,300,000 $0 $9,300,000 Alternative Financing $9,000,000 $0 $9,0001000 2001 Bonds $1200,000 $0 $12,800,000 Sales Tax lReimbursements 1 $450,000 $01 50,000 1 Total Fundingl $35,892,000 $1,447,344 1 $37,339,-3441 Section 4.The following amount is appropriated for this project: Tbrough FY 2006-07 FY 2007-08 Through FY 2007-08 Conshiiefion $27,147,803 $1,447,344 $28, 595,147 Site Acquisition $3,531,697 $0 $3,531,697 Site Deyelopn-&A $0 $0 $0 Fees $2,162,500 $0 $2,162,5W Fmisbings Technology Constuefion Cc)nfingency $800,000 $1,000,000 $750,000 $0 $o 0 $800,000 $1,500,000 $750,000 Ono-Time Start Up Costs $500,000 $0 $500,000 Total Cos tA $35,892,000 $1,447,344