HomeMy WebLinkAbout2017-089 Finance - Application for North Carolina Education Lottery Proceeds for OCS ��►� - ��� PPF a-Al-Abi"1
APPLICATION Approved:
PUBLIC SCHOOL BUILDING CAPITAL FUND
NORTH CAROLINA EDUCATION LOTTERY Date:
County: Orange County Contact Person: Gary Donaldson
LEA: Orange County Schools Title: Chief Financial Officer
Address: P.O. Box 8181, Hillsborough, NC Phone: (919)245-2453
Project Title: FY 2016-17 Debt Service for Orange County Schools
Location:
Type of Facility:
North Carolina General Statutes, Chapter 18C, provides that a portion of the proceeds of the North
Carolina State Lottery Fund be transferred to the Public School Building Capital Fund in accordance
with G.S. 115C-546.2. Further, G.S. 115C-546.2 (d) has been amended to include the following:
(3) No county shall have to provide matching funds...
(4)A county may use monies in this Fund to pay for school construction projects in local school
administrative units and to retire indebtedness incurred for school construction projects.
(5) A county may not use monies in this Fund to pay for school technology needs.
As used in this section, "Public School Buildings" shall include only facilities for individual schools that
are used for instructional and related purposes, and does not include central administration,
maintenance, or other facilities. Applications must be submitted within one year following the
date of final payment to the Contractor or Vendor.
Short description of Construction Project: Debt Service related to Orange County Schools' Installment
Financing 2016, COPS Refunding 2015, and Refunding -Series 2015 issuances
Estimated Costs:
Purchase of Land $
Planning and Design Services
New Construction
Additions/Renovations
Repair
Debt Payment/Bond Payment 636,010.00
TOTAL $ 636,010.00
Estimated Project Beginning Date: 7/112016 Est. Project Completion Date: 6130/2017
We,the undersigned, agree to submit a statement of state monies expended for this project within 60
days following completion of the project.
The County Commissioners and the Board of Education do hereby jointly request approval of the above
project, and request release of$ 636,010.00 from the Public School
Building Capital Fund (Lottery Distribution). We certify that the project herein described is within the
parameters of G.S. 1 C-
(Signature—Chair, C n o miss' ners) (Date)A�� ;Q.15 0
(Signature—Chair, Board of Education) (Date)
Form Date: July 01,2011