HomeMy WebLinkAboutOTHER-2024-027-Application for North Carolina Education Lottery Proceeds for Chapel Hill-Carrboro city schools to drawdown funds from the North Carolina department of public instruction 0 / -�f 1Z - 969L/ .. d c97 L/ l l to /91/
Attachment 1
APPLICATION Approved :
PUBLIC SCHOOL BUILDING CAPITAL FUND
NORTH CAROLINA EDUCATION LOTTERY Date :
County : Orange Contact Person : owoot Gary Donaldson
LEA : Chapel Hill -Carrboro City-681 Title : Chief Financial Officer
Address : P . O . Box 8181 Hillsborough , NC Phone : 919 -245-2453
Project Title : FY 2023 -24 Debt Service (2012 Bonds and Series 2018 General Obligation Bonds ,
Location :
otootoot
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 .
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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.
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Short description of Construction Project : Debt Service associated with Limited Obligation Bonds -
Series 2012 and Series 2018 General Obligation Bonds .
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Estimated Costs :
Purchase of Land $
Planning and Design Services
New Construction
Additions / Renovations
Repair
Debt Payment / Bond Payment 985 , 000 . 00
TOTAL $ 985 , 000 . 00
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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 $ 985 , 000000 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 .
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( natur — Chair, Coun ti
Commissioners) ( Date)
(Signature — Chair, Board of Education ) ( Date)
Form Date : July 01 , 2011