HomeMy WebLinkAboutORD-2005-208 - Land Legacy Capital Project Ordinance ATTACHMENT 4
Lands Legacy
Capital Project Ordinance
Be it ordained by the Orange County Board of County Commissioners that pursuant to
Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following
capital project is hereby adopted.
Section 1. The project authorized provides funds to protect identified natural areas
and prime forestlands, and preserve critical cultural and archaeological
sites. In addition funds may be used to acquire lands for future park sites,
farmland conservation easements, and nature preserves. Proceeds from
the 2001 voter approved bonds, 2004 Two-thirds net debt reduction
bonds, half-cent sales tax, Subdivision Payment-in-Lieu funds, Grant
Funds, and alternative financing finance the project.
Section 2. The officers of the County are hereby directed to proceed with the project
within the budget contained herein.
Section 3. The following revenue is anticipated to complete this project:
Through FY Through FY
2004-05 FY 2005-06 2005-06
Sales Tax $3,966,016 $0 $3;966,016
1997 Bonds $2,700,000 $0 $2,700,000
2001 Bonds $3.,000,000 $1,750,000 $4,750,000
2004 Two-Thirds Net Debt $0 $300,000 $300,000
Grant Funds $421,950 $0 $421,950
Fees $0 $0 $0
Other(Transfer from Other
Funds) $2,191,611 $0 $2,191,611
Total Funding $12,279,577 $2,050,000 $14,329,577
Section 4. The following amount is appropriated for this project:
Through FY Through FY
2004-05 FY 2005-06 2005-O6
Land/Building $12,279,577 $2,050,000 $14,329,577
Design $0 $0 $0
Construction $0 $0 $0
Total Costs $12,279,577 $2,050,000 $14,329,577
ATTACHMENT 4
Section 5. The following amounts have been transferred to other County Capital
Projects:
Through FY Through FY
2004-05 FY 2005-06 2005-06
Transfer to Conservation
Easements Capital Project $27,000 $116,000 $1432000
Total Transfers $27,000 $116,000 $143,000
Section 6. The following budget remains in the project:
Original Budget see Section 4 above) $14,329,577
Less Transfers to Other Projects see Section 5 above $143,000
Total Project udgetl $14,186,577
Section 7. This ordinance shall be in effect from the original date of adoption, March
24, 2003 until June 30, 2006.
Adopted this 13th day of December 2005.