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6 <br /> revenues exceed such expenditures, the excess shall be <br /> transferred to the School Capital Reserve Fund. <br /> 2. Twenty percent (20%) of the original half-cent sales tax <br /> revenue and forty percent (40%) of the additional half-cent <br /> sales tax revenue shall be limited to acquisitions of or <br /> improvements to land, buildings, and equipment costing <br /> $30, 000 or more. Any year in which such revenues exceed <br /> such expenditures, the excess shall be transferred to the <br /> County Capital Reserve Fund. <br /> 3. The School Capital Reserve Fund shall be used to accumulate <br /> funds for acquisitions of or improvements to land, <br /> buildings, and equipment for school purposes costing <br /> $50,000 or more. <br /> 4. The County Capital Reserve Fund shall be used to accumulate <br /> funds for acquisitions of or improvements to land, <br /> buildings, and equipment for county purposes costing <br /> $30, 000 or more. <br /> 5. A vehicle Capital Reserve Fund shall be established and <br /> used to accumulate funds for the acquisition of county <br /> vehicles. <br /> 6. Each year an amount equal to $800,000 minus the amount <br /> required for that year's debt service on school bonds <br /> issued prior to the 1987-88 fiscal year shall be <br /> appropriated in the General Fund budget and transferred to <br /> the School Capital Reserve Fund. <br /> 7. Debt incurred under the "two-thirds net debt reduction" <br /> rule shall be limited to instances where the health and <br /> safety of Orange County citizens are threatened. <br /> 8. The amount to be appropriated to each school system for <br /> recurring capital expenditures shall be $750,000. This <br /> appropriation shall be in effect for a period of at least <br /> five years and includes funds for roof repairs. <br /> 9. County capital expenditures with a cost of $30, 000 or more <br /> and a useful life of at least five years shall be <br /> considered capital projects and accounted for in capital <br /> project funds. <br /> 10. During each fiscal year, the Board shall adopt a Five-Year <br /> Capital Improvement Program. The Five-Year Program shall <br /> include anticipated county capital expenditures costing <br /> $30,000 or more and anticipated school capital expenditures <br /> costing $50, 000 or more, as well as available financing <br /> sources. The first year of the adopted Five-Year Capital <br /> Improvement Program shall be incorporated into the next <br /> annual operating budget recommended to the Board by the <br /> County Manager. <br /> VOTE: AYES, 3 ; NOES, 1 (Commissioner Willhoit) <br /> 3. SENIOR CITIZENS BOARD ORDINANCE AMENDMENT <br /> Jerry Passmore presented for consideration of approval an <br />