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13 <br /> Water and/or sewer projects to be funded will be <br /> selected using the following criteria: <br /> 1. The project must be assured of having the <br /> proper zoning at the proposed site; and <br /> 2. If a project is to correct a public health <br /> emergency, the condition cannot be corrected <br /> without water or sewer service. <br /> E. Funding Priorities and Sources <br /> 1. Where a project is approved, but funding is not <br /> immediately available, it will be placed on a <br /> funding waiting list. Funding approval by Orange <br /> County pursuant to this policy is not a guarantee <br /> that Orange County will fund the project to any <br /> extent. It is only a statement by the County that <br /> the project, if funded, will be funded according to <br /> a funding waiting list. <br /> 2. Water and/or sewer facilities and/or extensions may <br /> be financed by the following means: <br /> a. County revolving fund; <br /> b. State/Federal grants and loans; and/or <br /> c. County General Fund and Enterprise Fund <br /> contributions. (Includes both capital and <br /> operating funds) <br /> General Fund contributions, both capital and <br /> operating, will be used only if funding cannot be <br /> obtained from other sources. <br /> F. Repayment of County Investment <br /> 1. All funds received from the operation of a <br /> County-owned system shall be paid into an <br /> Enterprise Fund. For the purposes of this policy, <br /> an Enterprise Fund is defined as a fund used to <br /> account for operations that are intended to be <br /> self-supporting through charges to users of the <br /> services provided or where the determination of net <br /> income is an important factor. <br /> In all cases where the County's investment is <br /> dependent on an agreement that the County be repaid <br /> all or a portion of its investment, funds received <br /> shall be aid into a Capital Reserve Fund. All <br /> P P <br /> "pay-backs" shall include interest at the rate <br /> charged for assessments under N.C. General Statute <br /> 153A-185 or, in the event that the County borrows <br /> -10- <br />