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derived from various sources, including property taxes (which account for approximately 70 % of the <br /> general fund revenues) , sales taxes , fees and charges , as well as intergovernmental revenues . For the fiscal <br /> year ended June 30 , 2023 , the County imposed a property tax of $ 0 . 8312 per $ 100 of assessed value, all of <br /> which was appropriated to the General Fund by the County ' s Board of Commissioners . For the fiscal year <br /> ending June 30, 2024, the County imposed a property tax of $ 0 . 8353 per $ 100 of assessed value . A rate of <br /> $ 0 . 8312 per $ 100 of assessed value in the fiscal year ended June 30 , 2023 generated approximately $ 188 . 2 <br /> million . A rate of $ 0 . 8353 per $ 100 of assessed value in the fiscal year ending June 30 , 2024 is estimated <br /> to generate approximately [$ 190 . 7 million] . The General Statutes of North Carolina permit counties to <br /> impose property taxes of up to $ 1 . 50 per $ 100 of assessed value for certain purposes without the <br /> requirement of a voter referendum . See Appendix B hereto for a description of the uses of the County ' s <br /> general fund revenues for the fiscal year ended June 30 , 2023 . <br /> THE PLAN OF FINANCE <br /> The 2024 Bonds are being issued to provide funds to ( 1 ) finance the acquisition, construction, <br /> equipping and improvement of certain County facilities as further described below and (2) finance certain <br /> costs incurred in connection with the execution and delivery of the 2024 Bonds . <br /> THE PROJECTS <br /> A portion of the proceeds of the 2024A Bonds will be used to finance a variety of County projects . <br /> The County has adopted a practice of completing an annual financing to finance a broad range of <br /> acquisitions and improvements , so as to reduce its frequency of transactions and to handle projects that do <br /> not lend themselves conveniently to separate financings . The projects included in the current financing can <br /> be summarized, and the current estimates of the costs thereof, as follows : <br /> Project Estimated Cost <br /> Research Triangle Logistics Park $ 1 , 684, 707 <br /> Lake Orange Dam Rehabilitation 252 024 <br /> Neuse River Rules/Gravelly Hill Middle School 300 000 <br /> Solid Waste Equipment Replacement 574 971 <br /> 501 West Franklin building upfit 2 000 000 <br /> Whitted Stormwater Improvements 175 000 <br /> Bi-Directional Emergency Response K12 Coverage 1 , 344, 674 <br /> Assorted Vehicles 805 , 743 <br /> Deferred Maintenance — capital projects for Chapel Hill- Carrboro City Schools 551185023 <br /> Total Project Costs $ 12 ,255 , 142 <br /> THE MORTGAGED PROPERTY <br /> The 2024 Bonds , the Prior Bonds and any Additional Bonds will be secured by the Mortgaged <br /> Property . The Mortgaged Property includes the County ' s Whiffed Building, Blackwood Farm Park, <br /> Culbreth Middle School, Orange County Library, Orange Middle School, Hillsborough Elementary School, <br /> New Hope Elementary School, Pathways Elementary School, Orange High School and Ephesus Elementary <br /> School (all as described below) , and the associated real estate . The "Mortgaged Property" is defined in the <br /> Deed of Trust to include these facilities and real estate, and any additional improvements to the facilities <br /> and real estate, but generally does not include any equipment or furnishings associated with the property . <br /> Whitted Building. The Whiffed Building is a three- story building consisting of approximately <br /> 56 , 984 square feet on an approximately 5 . 7- acre site located at 300 West Tryon Street in Hillsborough, <br /> 10 <br />