Orange County NC Website
Browse       Search
030 <br /> 1S <br /> c. General Fund and Enterprise Fund <br /> contributions. (Includes capital funds only) <br /> Capital funds from the General Fund will be used <br /> only if funding cannot be obtained from other <br /> sources . <br /> 5. All funds received from the operation of a County- <br /> owned system shall be paid into an Enterprise Fund. <br /> In all other case, funds received through an <br /> approved pay-back schedule shall be paid into a <br /> Capital Reserve Fund. All "pay-backs" shall <br /> include interest at the rate charged for <br /> assessments under N.C. General Statute 153A-185 or, <br /> in the event that the County borrows money for the <br /> extension, at the rate paid by the County on the <br /> debt. <br /> 6. Orange County's financial participation for <br /> approved projects which are extensions/expansions <br /> to an existing County-owned system shall be limited <br /> to those extensions/expansions where projected <br /> revenues from the system are equal to or greater <br /> than the projected operating costs plus the total <br /> debt service by the end of the fifth year after the <br /> project is completed. Within limits prescribed by <br /> the Board of Commissioners from time-to-time, the <br /> amount of financial participation shall not exceed <br /> the capital amount necessary to extend/expand the <br /> system to meet the projections. All projections <br /> shall be those approved by the Board of <br /> Commissioners and prepared by an engineer employed <br /> by Orange, County. <br /> B. Access and Availability Fee Policies - RESERVED <br /> Draft: 7-31-87 <br /> Revisions: 8-26-87 <br /> 9-2-87 <br /> 11-16-87 <br /> 11-24-87 <br /> 9-17-88 <br />