HomeMy WebLinkAboutOTHER-2022-025-CHCCS lottery proceeds debt service application Attachment 1
APPLICATION Approved :
PUBLIC SCHOOL BUILDING CAPITAL FUND
NORTH CAROLINA EDUCATION LOTTERY Date :
County: Orange Contact Person : Gary Donaldson j
LEA : Chapel Hill -Carrboro City Title : Chief Financial Officer
Address : P . O . Box 8181 Hillsborough , NC Phone :
919-245-2453
I'
Project Title : FY 2021 -22 Debt Service (2001 Bonds - issued in 2005 - Series 2011 Refunding)
Location :
Type of Facility :
North Carolina General Statutes Chapter 18C provides that a portion of the proceeds of the North
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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 associated with Limited Obligation Bonds -
Series 2011 (Carrboro High School )
Estimated Costs :
Purchase of Land $
Planning and Design Services
c:
New Construction I
Additions / Renovations
Repair
Debt Payment / Bond Payment 846 ,461800
TOTAL $ 846 ,461000
7/1 /2021 • 6/30/2022
Estimated Project Beginning Date . Est. Project Completion Date . ,
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 $ 846 , 461 , 00 from the Public School
Building Capital Fund ( Lottery Distribution ) . We certify that the project herein described is within the
param ters of G . S . 115C{546 .
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(Signature — Chair, County Commissioners ) ( Date)
(Signature — Chair, Board of Education ) (Date)
Farm Date : July 01 , 2011