Orange County NC Website
Browse       Search
080 <br /> 5 . All funds received from the operation of a <br /> County-owned system shall be paid into an Enterprise <br /> Fund. In all other cases, funds received through an <br /> approved pay-back schedule shall be paid into a Capital <br /> Reserve Fund. All "pay-backs" shall include interest at <br /> the rate charged for assessments under N.C. General <br /> Statute 153A-185 or, in the event that the County <br /> borrows money for the extension, at the rate paid by the <br /> County on the debt. <br /> 6. Orange County' s financial participation for approved <br /> projects which are extensions to an existing County- <br /> owned system shall be limited to those extensions where <br /> projected revenues from the system are equal to or <br /> greater than the projected operating costs plus the <br /> total debt service by the beginning of the third year <br /> after the project is completed. Within limits prescribed <br /> by the Board of Commissioners from time-to-time, the <br /> amount of financial participation shall not exceed the <br /> capital amount necessary to extend the system to meet <br /> the projections. All projections shall be those approved <br /> by the Board of Commissioners and prepared by an <br /> engineer employed by Orange County. <br /> Agg.gaa_aad_MALIALilitY Fee Policies - RESERVED <br />