HomeMy WebLinkAboutOTHER-2022-026-OCS Lottery proceeds debt service application I
Attachment 1
APPLICATION Approved :
PUBLIC SCHOOL BUILDING CAPITAL FUND
NORTH CAROLINA EDUCATION LOTTERY Date :
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Orange : Gary Donaldson
County : g Contact Person . rY
LEA : Orange County - 680 Title : Chief Financial Officer
Address : P . O . Box 8181 Hillsborough , NC Phone : 919-245-2453
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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
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 (Gravelly Hill Middle School )
Estimated Costs :
Purchase of Land $
Planning and Design Services
New Construction
Additions / Renovations
Repair
Debt Payment / Bond Payment 4621007400
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TOTAL $ 462 , 007 . 00
Estimated Project Beginning Date : 7/1 /2021 Est, Project Completion Date : 6/30/2022
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 $ 462 , 007 . 00 from the Public School
Building Capital Fund (Lottery Distribution ) . We certify that the project herein described is within the
parameters of G . S . 115C -546 .
( Signature — Chair, County Commissioners ) ( Date)
(Signature — Chair , Board of Education ) (Date)
Form Date : July 01 , 2011