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OTHER-2022-025-CHCCS lottery proceeds debt service application
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OTHER-2022-025-CHCCS lottery proceeds debt service application
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Last modified
5/4/2022 12:36:52 PM
Creation date
5/4/2022 12:36:04 PM
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BOCC
Date
5/3/2022
Meeting Type
Business
Document Type
Others
Agenda Item
8-L
Document Relationships
Agenda 05-03-22; 8-l - Application for NC Education Lottery Proceeds for CHCCS and Contingent Approval of Budget Amendment #10-A Related to CHCCS Capital Project Ordinances
(Attachment)
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\Board of County Commissioners\BOCC Agendas\2020's\2022\Agenda - 05-03-2022 Business Meeting
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Attachment 1 <br /> APPLICATION Approved : <br /> PUBLIC SCHOOL BUILDING CAPITAL FUND <br /> NORTH CAROLINA EDUCATION LOTTERY Date : <br /> County: Orange Contact Person : Gary Donaldson j <br /> LEA : Chapel Hill -Carrboro City Title : Chief Financial Officer <br /> Address : P . O . Box 8181 Hillsborough , NC Phone : <br /> 919-245-2453 <br /> I' <br /> Project Title : FY 2021 -22 Debt Service (2001 Bonds - issued in 2005 - Series 2011 Refunding) <br /> Location : <br /> Type of Facility : <br /> North Carolina General Statutes Chapter 18C provides that a portion of the proceeds of the North <br /> p , p p <br /> Carolina State Lottery Fund be transferred to the Public School Building Capital Fund in accordance <br /> with G . S . 115C-546 . 2 . Further, G . S . 115C-546 . 2 (d) has been amended to include the following : <br /> (3 ) No county shall have to provide matching funds . . . <br /> (4) A county may use monies in this Fund to pay for school construction projects in local school <br /> administrative units and to retire indebtedness incurred for school construction projects . <br /> (5) A county may not use monies in this Fund to pay for school technology needs . <br /> As used in this section, "Public School Buildings" shall include only facilities for individual schools that <br /> are used for instructional and related , purposes , and does not include central administration , <br /> maintenance , or other facilities . Applications must be submitted within one year following the <br /> date of final payment to the Contractor or Vendor. <br /> Short description of Construction Project: Debt Service associated with Limited Obligation Bonds - <br /> Series 2011 (Carrboro High School ) <br /> Estimated Costs : <br /> Purchase of Land $ <br /> Planning and Design Services <br /> c: <br /> New Construction I <br /> Additions / Renovations <br /> Repair <br /> Debt Payment / Bond Payment 846 ,461800 <br /> TOTAL $ 846 ,461000 <br /> 7/1 /2021 • 6/30/2022 <br /> Estimated Project Beginning Date . Est. Project Completion Date . , <br /> We , the undersigned , agree to submit a statement of state monies expended for this project within 60 <br /> days following completion of the project . <br /> The County Commissioners and the Board of Education do hereby jointly request approval of the above <br /> project, and request release of $ 846 , 461 , 00 from the Public School <br /> Building Capital Fund ( Lottery Distribution ) . We certify that the project herein described is within the <br /> param ters of G . S . 115C{546 . <br /> AAdj!fkA v;o/t4 <br /> (Signature — Chair, County Commissioners ) ( Date) <br /> (Signature — Chair, Board of Education ) (Date) <br /> Farm Date : July 01 , 2011 <br />
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