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<br />32 <br />Water and/or surer projects to be funded will be <br />selected using the following criteria: <br />The project must be assured of having the <br />Proper aonxng at the proposed sate; and <br />2. If a project is z ' o correct a public health <br />emergency, the condition cannot be corrected <br />without water or sewer service. <br />fi- F+?nding Priarities 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 1s not a.guarantee <br />that orange County will fund the <br />extent. It is only a statement bythecCountynthat <br />r <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. (Inclu;des 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 xnvestateut <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 as important factor. <br />In all cases where the County's investment is <br />dependent on an agreement that the County be repaid <br />411 or a Portian of'its ,investment, funds received <br />shall be paid into a Capital Reserve Fund. All <br />"pay--backs^ shell include interest at the rate <br />charged for assessments under N.C. General Statute <br />153A-185 orr in the event that the County borrows