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DRAFT <br />Middle School #3 <br />Orange County Schools <br />Capital Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 of <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 for the Orange County Schools to obtain options to <br />purchase property for and to design, construct, and equip a new middle school facility. <br />Anticipated revenues for the project consist primarily of 2001 voter approved bond funds, <br />with private placement financing as well. <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 County revenue is anticipated to complete this project: <br /> roug <br />2003-04 <br />FY 2004-05 roug <br />2004-05 <br />Sales Tax $0 _ $0 $0 <br />School Construction <br />Im act Fees <br />$0 <br />$0 <br />$0 <br />Public School Building <br />Funds <br />$0 <br />$0 <br />$0 <br />2001 Bonds $825,005 $17,674,995 $18,500,000 <br />Private Placement Loa $0 $3,520,566 $3,520,566 <br />Total County Funding $825,005 $21,195,561 $22,020,566 <br />Section 4. The following amount is appropriated for this project: <br /> Myo gh FY <br />200304 <br />FY2004-05 Though FY <br />200405 <br />Corlstrudjcn $0 $15,909,959 $15,909,959 <br />SStePcgtisilicn $775,005 $0 $775,005 <br />e usl on <br />(SalslM erialsTesting, <br /> <br />$20,000 <br /> <br />$0 <br /> <br />$20,000 <br />Site Development $0 $2,485,602 $2,485,602 <br />Fees Ar? gn $30,000 $1,085,000 $1,115,000 <br />M>eable Rl ipment $0 $600,000 $600,000 <br />TedT dopy $0 $650,000 $650,000 <br />on <br />03ritingemy <br />$0 <br />$465,000 <br />$465,000 <br />One-Tirre Start Up Costs $0 $0 $0 <br />Tats Costs $825,005 $21,195x561 $71,020,566