Agenda - 08-25-2003-c4a - Laserfiche WebLink

Browse Search

~.~® Water and/or sewer projects to be funded will be selected using the following criteria: 1. The project must be assured of having the proper zoning at the proposed site; and 2. If a project is to correct a public health emergency, the condition cannot be corrected without water or sewer service. E. Funding~Priorities and Sources 1. Where a project is approved, but funding is not immediately available, it will be placed on a funding waiting list. Funding approval by Orange County pursuant to this policy is not a guarantee that Orange County will fund the project to any extent. It is only a statement by the County that the project, if funded, will be funded according to a funding waiting list. 2. Water and/or sewer facilities and/or extensions may be financed by the- fo-blowing means a. County revolving fund; b. State/Federal grants and loans; and/or c. County General Fund acid Enterprise Fund contributions. (Includes both capital and operating funds) General Fund contributions, both capital and operating, will be used only if funding cannot be obtained from other sources. F. Repayment of County Investment 1. All funds received from the operation of a County-owned system shall be paid into an Enterprise Fund. For the purposes of this policy, an Enterprise Fund is.defined as a fund used to account for operations that are intended to be self-supporting through charges to users of the services provided or where the determination of net income is an important factor. In all cases where the County's investment is dependent on an agreement that the County be repaid all or a portion of its investment, funds received shall be paid into a Capital Reserve Fund. All "pay-backs" shall include interest at the rate charged for assessments under N.C. General Statute 153A-185 or, in the event that the County borrows -1~-