Agenda - 10-01-2002 - 8k - Laserfiche WebLink

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2 The Commissioners agreed in 1999 to fund the County's share of the field cost with 1997 voter approved Recreation and Park bond monies. The attached budget amendment appropriates those funds to the Smith Middle School Construction/K-12 Campus Capital Project and allows the County to reimburse the School district for one half of the cost ($114,058) of field upgrades. This appropriation brings the total Smith Middle School/K-12 Campus project budget to $19,534,058. It is also important to note that the November 2001 bond referendum included $250,000 for bleachers and lighting at these fields. The Bond and Alternative Financing proposal that staff presented at the June 24, 2002 budget work session allowed for the issuance of these bond funds in the bond sale proposed for the current fiscal year. Once the Board finalizes the proposed financing plan,staff will bring forward an updated Smith Middle School Construction/K-12 Campus Capital Project Ordinance that allocates 2001 bond funds to the project for this purpose.' In accordance with the Board's Policy on Planning and Funding School Capital Projects, staff will bring a final capital project ordinance to the Commissioners once the District has completed construction and paid all of the bills associated with the project. That will provide an opportunity for Commissioners to see how the original project budget compares to the final budget, and serves as the mechanism for the official close out of the project. rig"'I aar s nben a i9cye�; die discussion bout 0t�is , a dl�" 'f 4raa►� ?.. . the oytstanirrg FINANCIAL IMPACT: Financial impacts are included in the background information above. RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners approve the attached Smith Middle School Construction/K-12 Campus Capital Project Ordinance.