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ATTAC~NT 5
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<br />Recreation and Parks Facilities -Lands Legacy v ~ p ~ Z-~~ --Dv~
<br />Capital Project Ordinance ~-o?~f ~ os
<br />Be it ordained by the Orange County Board of County Commissioners that pursuant to `~
<br />Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following
<br />capital project is hereby adopted.
<br />Section 1. The project authorized provides funds to protect identified natural areas
<br />and prime forestlands, and preserve critical culturbl and archaeological
<br />sites. In addition funds may be used to acquire lands for future park sites,
<br />farmland conservation easements, and nature preserves. Proceeds
<br />from the 2001 voter approved bonds, half-cent sales tax, Subdivision
<br />Payment-in-Lieu funds, Grant Funds, and alternative financing finance the
<br />project.
<br />Section 2. The officers of the County are hereby directed to proceed with the project
<br />within the budget contained herein.
<br />Section 3. The following revenue is anticipated to complete this project:
<br /> Through FY
<br />2003-04
<br />FY 2004-05 Through FY
<br />2004-05
<br />Sales Tax $3,966,016 $27,000 $3,939,016
<br />1997 Bonds $2,700,000 $0 $2,700,000
<br />2001 Bonds $1,750,000 $1,250,000 $3,000,000
<br />2004 Two-Thirds Net Debt $0 $300,000 $300,000
<br />Grant Funds $421,950 $0 $421,950
<br />Fees $0 $0 $0
<br />Other(Transfer from Other
<br />Funds)
<br />$2,191,611
<br />$0
<br />$2,191,611
<br />Total Fundin $11,029,577 $1,523,000 $12,552,577
<br />Section 4. The following amount is appropriated for this project:
<br /> Through FY Through FY
<br /> 2003-04 FY 2004-OS 2004-OS
<br />LandBuilding $11,029,577 $1,550,000 $12,579,577
<br />Design $0 $0 $0
<br />Construction $0 $0 $0
<br />Transfer to
<br />Conservation
<br />Easements Capital
<br />Project $0 ($27 000) ($27,000)
<br />Total Costs $11,029;577 $1,523,000 $12,552,577
<br />Section 7. ~ This ordinance shall be in effect from the original date of adoption, March
<br />24, 2003 until June 30, 2005.
<br />Adopted this 24th day of January 2005.
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