HomeMy WebLinkAboutOTHER-2024-023-Application for North Carolina Education Lottery Proceeds for Orange County to Drawdown Funds from the North Carolina Department of Public Instruction U %4 L5Z ?091/- 09 31 ' T h 1l / Ito / a /
Attachment 1
APPLICATION Approved :
PUBLIC SCHOOL BUILDING CAPITAL FUND
NORTH CAROLINA EDUCATION LOTTERY Date :
County : Orange Contact Person : Gary Donaldson
LEA : Orange County - 680 Title : Chief Financial Officer
Address : P . O . Box 8181 Hillsborough , NC Phone : 919-245-2453
Project Title : FY 2023 -24 Debt Service (2017B Limited Obligation Bonds and Series 2020 General Obl�
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 j
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 2017B and Series 2020 General Obligation Bonds .
Estimated Costs :
Purchase of Land $
Planning and Design Services
New Construction
Additions / Renovations
Repair
I,
Debt Payment / Bond Payment 591 , 000400
C
TOTAL $ 5911000 . 0O
Estimated Project Beginning Date : 7/1 /2023 Est, Project Completion Date : 6/30/2024
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 $ 5911000 . 0o 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 .
( S ' ature mmis Chair, Cou ntzhommissloners ) ( Date )
(Signature — Chair, Board of Education ) ( Date)
Form Date: July 01 , 2011