Agenda - 05-16-2006-5l - Laserfiche WebLink

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APPLICATION Approved: PUBLIC SCHOOL BUILDING CAPITAL FUND Date: County: Orange Contact: Donna Dean Address: Post Office Box 8781 Hillsborough NC 27278 Title: Budget Director School Admin Unit: Chaoel Hill-Carrboro City Schools Phone: (919) 245-2151 Project Title: 2005-06 Debt Service - McDougle Elementary Location: Type of Facility G,S, 115C - 546.2(b) "Counties shall use monies in the Fund for capital outlay projects including the planning, construction, reconstruction, enlargement, improvement, repair, or renovation of public school buildings and for the purchase of land for public school buildings; for equipment to implement a local school technology plan that is approved pursuant to G,S. 115C•102,6C; or for both. Monies used to implement a Iocai school technology plan shall be transferred to the State School Technology Fund and allocated by that Fund to the Iocai school administrative unit for equipment. As used in this section, "public school buildings" only includes facilities for individual schools that are used for instructional and related purposes and does not include centralized administration, maintenance, or other facilities." 2005 private placement financing funded the following projects for the Short Description of Construction Project: Chapel Hili Carrboro City School District: Project Debt Amount Construction of McDougle Elementary School 7,064,230 Estimated Costs: State Local Total Purchase of Land Planning Construction Renovation Enlargement Repair SchooiTechnology FY 2005.06 Debt $666.822 $222 274 $689.096 Service Payment Total $666,822 $222,274 $889,096 Bid DatesNendors Contracts Signed/Dates Estimated date of beginning of construction Estimated date of completion Match: The matching funds of one dollar of local funds for every three dollars of state funds are from (source): oropertv tax $222,274 of the matching funds have been expended for/date/description: Date Purpose 07/15/2006 Debt Service 01/15/2006 Debt Service Reporting We, the undersigned, agree to submit a statement of statellocal amounts expended for this project requirements: within 60 days of completion of the project The County Commissioners and the Board of Education do hereby jointly request approval of the above project and request release of $666.822 from the Public School Building Capital Fund. We certify that the project herein described is within the parameters of 115C-546.2(b) and that all of the match is available and designated as match of this project, Signature -Chair, County Commissioners Date Signature -Chair, Board of Education Date