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CABARRUS COUNTY CANNON MEMORIAL LIBRARY <br /> CAPITAL PROJECT ORDINANCE <br /> BE IT ORDAINED, by the Board of County Commissioners of the <br /> County of Cabarrus, North Carolina, that, pursuant to Section <br /> 13.2 of Chapter 159 of the General Statutes of North Carolina, <br /> the following capital project ordinance is hereby adopted: <br /> Section 1. The project authorized is for the purpose of <br /> collecting and appropriating contributions and private donations <br /> received specifically for the Cabarrus County Cannon Memorial <br /> Library System. <br /> Section 2. The officers of this unit are hereby directed <br /> to proceed with this project within the terms of the Generally <br /> Accepted Accounting Principles (GAAP) and the budget contained <br /> herein. <br /> Section 3. The following budgeted amounts are appropriated <br /> for the projects: <br /> Bank Service Charges - Concord $ 3,585 <br /> Renovations & Upfit at Concord Branch $ 1,080, 681 <br /> Renovations & Upfit at Mt. Pleasant Branch $ 9,740 <br /> Renovations & Upfit at Kannapolis Branch $ 50,000 <br /> Total $ 1,144,006 <br /> Section 4. The following revenues are anticipated to be <br /> available to complete this project: <br /> Contributions and Private Donations $ 923,758 <br /> Contributions and Donations - Flowe Trust $ 11,331 <br /> Interest on Investments $ 154,301 <br /> Interest on Investments - Trust $ 44,876 <br /> Private Donation for Mt. Pleasant Library $ 9,740 <br /> Total $ 1,144,006 <br /> Section 5. The Finance Officer is hereby directed to <br /> maintain within the Capital Projects Fund sufficient detailed <br /> accounting records. <br /> Section 6. Funds may be advanced from the General Fund for <br /> the purpose of making payments as due. Reimbursement to the <br /> General Fund should be made in an orderly and timely manner. <br /> Section 7. The Finance Officer is directed to report, at <br /> the request of the Board, on the financial status of each project <br /> element in Section 4 and on the total revenues received or <br /> claimed. <br /> Section 8. Copies of this project ordinance shall be <br /> furnished to the Clerk to the Governing Board, and to the Budget <br /> Officer and the Finance Officer for direction in carrying out <br /> this project. <br /> Section 9. At the completion of the project, all <br /> unrestricted excess funds are transferred to the General Fund an(Attachment number 7\n <br /> the Capital Project Ordinance is closed. <br /> G-2 Page 187 <br />