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Capital Repairs /Replacement (Emergency) Reserve Fund <br />Capital Project Ordinance C <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 reserve funds that would be used to address major <br />system /component needs, abatement, etc. that may arise after the budget is <br />adopted. Proceeds from the County's share of pay -as- you -go capital funds finance <br />the project. <br />Section 2.The officers of the County are hereby directed to proceed -with the project within the <br />budget contained herein. <br />Section 3.The following 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 />Sales Tax and Dedicated <br />Property Tax <br />$75,000 <br />$0 <br />$75,000 <br />Bond Funds <br />$0 <br />$0 <br />$0 <br />2004 Two - Thirds Net Debt <br />$0 <br />$0 <br />$0 <br />Grant Funds <br />$0 <br />$0 <br />$0 <br />Dedicated Property Tax <br />$0 <br />$0 <br />$0 <br />Total Funding <br />$75,000 <br />1 $0 <br />$75,000 <br />Section 4.The following amount is appropriated for this project: <br />Section 5. This ordinance shall remain in effect until June 30, 2008. <br />Adopted this 26th day of June 2007. <br />Through FY <br />2006 -07 <br />FY 2007 -08 <br />Through FY <br />2007 -08 <br />Land/Building <br />$0 <br />$0 <br />$0 <br />Design <br />$0 <br />$0 <br />$0 <br />Construction <br />$0 <br />$01 <br />0 <br />Reserve <br />$75,000 <br />1 $0 <br />$75,000 <br />Total Budget <br />$75,0001 <br />$75,000 <br />Section 5. This ordinance shall remain in effect until June 30, 2008. <br />Adopted this 26th day of June 2007. <br />