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June 16, 2008 (Regular Meeting) Page 881 BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE/2009 SCHOOL CONSTRUCTION FUND AMOUNT: $210,000.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Establishment of the 2009 School Construction Fund for the following schools: A.T. Allen Replacement, SW area Middle School, NW area Middle School, A.L. Brown Wing Addition and A.L. Brown Vocational Building Renovation. These projects will be funded through Capital Reserve funds and through the future issue of Certificates of Participation. At this time, only $210,000.00 from Capital Reserve is being requested to be used for the A.T. Allen and NW area Middle School projects. Present Account No. Approved Budget Increase 36697311-9801 50.00 $50,000.00 Land - A.T. Allen Elementary 36697333-9801 $0.00 $75,000.00 Land - NW area Middle School 36697333-9606 $0.00 $65,000.00 Engineering - NW area Middle Scho ol 36660000-6921 $0.00 $210,000.00 Contribution from Capital Reserve Fund 95097220-9708 $13,667,946.00 $210,000.00 Contribution to Capital Projects Fund 95097220-9821 $13,673,377.56 Building and Renovations Decrease Revised Budget $50,000.00 $75,000.00 $85,000.00 $210,000.00 $13,677,946.00 $210,000.00 $13,963,377.56 Ordinance No. 2008-11 2009 SCHOOL CONSTRUCTION CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina that, pursuaht to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section 1. The project authorized is the construction and renovations of Schools for the Cabarrus County(AT Allen Replacement, SW area Middle School, and NW area Middle School) and Kannapolis City School Systems (A L Brown Wing Addition and Vocational Building Renovation). The capital projects will be financed by Capital Reserve funds and future debt issues. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of future debt resolutions and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Cabarrus County School System: A T Allen Elem $ 50,000 Middle School(NW location) $ 160,000 Section 9. The following revenues are anticipated to be available to complete this project: Capital Reserve Funds $ 210,000 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the terms of future debt financing resolution. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement requests should be made to the grantor agencies in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board, on the financial status of each project element in Section 3 and on the total revenues received or claimed.