HomeMy WebLinkAboutORD-2005-210 -Triangle SportsPlex Annual Contract and Reserve Capital Project Ordinance /,I -�� ATTACHMENT 6 11
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Triangle SportsPlex Annual Contract and Reserve
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 in accordance with the operational
agreement of a swimming pool to serve all areas of Orange County.
Proceeds from the County's portion of the one half cent sales taxes
finance this 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 $4,100,000 $400,000 $4,500,000
Bond Funds $0 $0 $0
2004 Two-Thirds Net Debt $0 $0 $0
Fees $0 $0 $0
Transfer from General Fund $40,000 $0 $40,000
Dedicated Property Tax $0 $0 $0
Total Funding, $4,140,000 $400,000 $4,540,000
Section 4. The following amount is appropriated for this project:
Through FY Through FY
2004-05 FY 2005-06 2005-06
Land/Building $0 $0 $0
Design $0 $0 $0
Construction $0 $0 $0
Other $40,000 $24,235 $64,235
ountn upon to Non-
County Agency $4,100,000 $183,333 $4,283,333
Transfer to SportsPlex
Enterprise Fund $0 $192,432 $192,432
Total Costs $4,140,000 $400,000 $4,540,000
Section 5. The County will purchase the SportsPlex facility on December 15, 2005.
With that purchase, all expenditures associated with the operational
management and purchase of the facility will be accounted for in the
SportsPlex Enterprise Fund. Unexpended funds in the Triangle
ATTACHIVIEEN!'6 la
Sportsplex Capital Project, totaling $192,432, will be transferred to the
SportsPlex Enterprise Fund
Section 6. This ordinance supersedes all previous Triangle Sportsplex Capital
Project Ordinances for Orange County.
Section 7. This ordinance originally adopted June 29, 1992 and subsequently
amended on July 1, 1998, shall be closed out effective December 31,
2005.
Adopted this 13th day of December 2005.