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<br />Water and/or sewer projects to be funded will be <br />selected using the following criteria: <br />1. The project must be assured of having the <br />proper zoning at the proposed site; and <br />2. If a project is to correct a public health <br />emergency, the condition cannot be corrected <br />without water yr sewer service. <br />E. .Funding Priorities and Sources <br /> <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 is not a guarantee <br />that Orange County will fund the project to any <br />`extent . ..l..t "is only a "-statement by the County tha c: <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. (Includes 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 ,Investment ~ ~ ... <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 an important factor. <br />In all. cases where the County's investment is <br />dependent on an agreement that the County be repaid <br />all or a portion of its investment, funds. received <br />shall be paid into a Capital Reserve Fund. All <br />"pay--backs" shall include interest at the rate <br />charged for assessments under N.C. General. Statute <br />153A-185 or, in the event that the County borrows <br />_in_ <br />