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<br />Carrboro High School (0=ormerly High School #3)
<br />Chapel Hill-Carrboro City Schools
<br />Capital Project Ordinance
<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 funds for the Chapel Hill-Carrboro City Schools to
<br />acquire property for, and to design, construct, and equip a new high school facility
<br />to be located on Rock Haven Road, in the vicinity of the intersection of Smith Level
<br />Road and Culbreth Road. Anticipated revenues for the project consist of 2001 voter
<br />approved bond funds, school construction impact fees, pay-as-you-go funding,
<br />sales tax reimbursements, and alternative financing through a private placement
<br />loan or similar debt instruments.
<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 /> 2005-06 FY 2006-07 2006-07
<br />Sales Tax $4,342,000 $0 $4,342,000
<br />School Construction
<br />Impact Fees
<br />$9,300,000
<br />$0
<br />$9,300,000
<br />.Alternative Financing $9,000,000 $0 $9,000,000
<br />2001 Bonds $12,800,000 $0 $12,800,000
<br />Sales Tax
<br />Reimburserr~nts
<br />$0
<br />$450,000
<br />$450,000
<br />Total Funding $35,442,000 $450,000 $35,892,000
<br />Section 4.The following amount is appropriated for this project:
<br /> Through FY
<br />2005-06
<br />FY 2006-07 Through FY
<br />2006-07
<br />Conslruc~ion $26,697,803 $450,000 $27,147,803
<br />Site Acquisition $3,531,697 $0 $3,531,697
<br />Site DevelopmeLlt $0 $0 $0
<br />Fees $2,162,500 $0 . $2,162,500
<br />Furnishings $800,000 $0 $800,000
<br />Technology $1,000,000 $0 $1,000,000
<br />Construction Contingency $750,000 $0 $750,000
<br />One-Tirrie Start Up Costs $500,000 $0 $500,000
<br />Total Costs $35,442,000 $450,000 $35,892,000
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