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have already been programmed as a revenue source into the allocations of 'pay-as-you go" <br /> 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 May 20, 2002 meeting. The <br /> Chapel Hill-CaRbom Board of Education approved their application at their May 23, 2002 <br /> meeting. <br /> FINANCIAL IMPACT: Consistent with the County's current Capllal Funding Policy, these <br /> PSBCF molds are one source of funding for 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 <br /> Commissioners approve, and authorize the Chair to sign, the appllcabons for Public School <br /> Building Capital Funds for the following projects: <br /> • Chapel Hill-Caoboro 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 />