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They have already been programmed as a revenue source into the allocations of "pay-as-you <br />go" funds to the two school systems under the County's present ten-year capital plan. <br />The application process requires formal request for funding from both the Board of County <br />Commissioners and the Board of Education of the school system concerned. The Orange <br />County Board of Education approved their applications at their March 5, 2001 meeting. The <br />Chapel Hill-Carrbaro Board of Education is scheduled to act on their application at their March . <br />15, 2001 meeting. <br />FINANCIAL IMPACT: Consistent with the County's current Capital Funding Policy, these <br />PSBCF monies are one source of funding far the ten-year capital plan (CIP). The funds have <br />been included in the CIP revenue estimates and there is no additional financial impact <br />anticipated. <br />RECOMMENDATION (S): The Manager recommends that the Board of County Commissioners <br />approve, and authorize the Chair to sign, the applications far Public School Building Capital . <br />Funds for the following projects: <br />• Chapel Hill-Carrboro City Schools share of the 2000-01 debt service payment related to <br />1992 voter approved bonds; <br />• Orange County Schools share of the 2000-01 debt service payment related to 1992 voter <br />approved bonds; <br />• Orange County Schools share of the 2000-01 debt service payment related to 1997 voter <br />approved bonds. <br />