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<br />Cedar Ridge High School Construction
<br />Orange County Schools
<br />Capital Project Ordinance
<br />Be-it ordained-by-the-Orange-County-Board-of-County-Commissioners-that pur-scant to-Section 1-3.2of
<br />Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby adopted. .
<br />Section 1. The project authorized provides funds to construct a new high school, Cedar Ridge High
<br />School, in the district, using proceeds from the Schools' portion of impact fees, 1997 voter
<br />approved bond referendum, savings from Pathways Elementary Construction, Certificates
<br />of Participation (GOP's) (installment purchase arrangement), 'interest earned on the COPs,
<br />and transfers from other OCS capital projects. Repayment of the installment purchase
<br />arrangement will be paid from the District's annual portion of the one-half cent sales taxes.
<br />Section 2. The officers of the County are hereby directed to proceed with the project within the budget
<br />contained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through FY FY Through FY
<br /> 2005-06 2006-07 2006-07
<br />Sales Tax $129,679 $0 $129,679
<br />Im act Fees $515,321 $0 $515,321
<br />rans er rom a ways
<br />Elementary School
<br />Construction Project $1,300,000 $0 $1,300,000
<br />rans er rom
<br />Information Technology
<br />Capital Project $6,400 $0 $6,400
<br />1997 Bond Funds $12,500,000 $0 $12,500,000
<br />e i ica es o
<br />Participation (COPs) $13,665,000 $0 $13,665,000
<br />Interest Earnin son CO $500,000 $0 $500,000
<br />Total Pro'ect Funding $28,616,400 $0 $28,616,400
<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 />Plannin /Arch/En in Fee $1,650,000 $0 $1,650,000
<br />Site Ac uisition $679,336 $0 $679,336
<br />Site Develo ment $2,306,000 $0 $2,306,000
<br />Le al/Fiscal Cost $165,000 $0 $165,000
<br />Construction $19,340,190 $0 $19,340,190
<br />Moveable E ui ment $1,100,000 $0 $1,100,000
<br />Technolo $1,750,874 $0 $1,750,874
<br />One-Time Start-U $1,375,000 $0 $1,375,000
<br />Contingenc $250,000 ($174,800) $75,200
<br />rans er o erns ive
<br />School Pro'ect
<br />$0
<br />$174,800
<br />$174,800
<br />Total Appropriation $28,616,400 $0 $28,616,400
<br />Section 5. This ordinance supersedes all previous Cedar Ridge High School Construction Capital
<br />Project Ordinances for the Orange County Schools.
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