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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />Action Agenda <br />Item No <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 25, 1991 <br />SUBJECT: Public School Building Capital Fund Application <br />DEPARTMENT Budget <br />ATTACHMENT(S) <br />Application Form <br />PUBLIC HEARING YES NO X <br />INFORMATION CONTACT <br />Budget Office, x2450 <br />TELEPHONE NUMBER <br />Hillsborough <br />732 -8181 <br />Chapel Hill <br />968 -4501 <br />Mebane <br />227 -2031 <br />Durham <br />688 -7331 <br />PURPOSE: To approve an application to the State Budget Office to <br />release funds for the New Hope Elementary School from Orange County's <br />Public School Building Capital Fund account. <br />BACKGROUND: As of June 30, 1991, Orange County will have accumulated a <br />total just short of $2.5 million in Public School Building Capital <br />money since the creation of this State fund in 1987. Of this amount, <br />the County has already drawn down almost $1.3 million in funding for <br />the New Hope Elementary School. The attached application would draw <br />down another $951,181 to complete all funding for New Hope Elementary. <br />This funding approach is consistent with the 1991 -96 Capital <br />Improvement Plan approved by the Board in March, 1991. The application <br />process requires formal requests for funding from both the Board of <br />County Commissioners and the Board of Education of the school system <br />concerned. The Orange County Board of Education approved the <br />application at their meeting on June 17, 1991. <br />RECOMMENDATION(S): The Manager recommends that the Board of <br />Commissioners approve the application for $951,181 in Public School <br />Building Capital Funds for New Hope Elementary, and authorize the Chair <br />to sign the application. <br />