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CABARRUS COUNTY LIMITED OBLIGATION BONDS 2017 PROJECT BUDGET ORDINANCE BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section I. A. The project authorized is for the construction of a Parking Deck. Details of the project are listed in section C. of this Project Ordinance. B. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. It is estimated that the following revenues will be available to complete capital projects as listed. General Fund Contribution $1,083,000 Capital Reserve Contribution 12,143,468 Debt Proceeds 1,000,000 TOTAL REVENUES $14,226,468 C. The following appropriations are made as listed. Parking Deck Downtown Concord $1,958,000 New Cabarrus County High School 8,341,495 Performance Learning Center 785,709 Warehouse 2,141,264 Financing Costs 1,000,000 TOTAL EXPENDITURES $14,226,468 GRAND TOTAL—REVENUES $14,226,468 GRAND TOTAL—EXPENDITURES $14,226,468 Section II. A. Special appropriations to non-profit organizations shall be distributed after the execution of an agreement which ensures that all County funds are used for statutorily permissible public purposes. B. The County Manager or designee is hereby authorized to transfer appropriations within or between funds, or modify revenue and expenditure projections as contained herein under the following conditions: 1. The Manager may transfer amounts between objects of expenditure and revenues within a function without limitation. 2. The County Manager may transfer amounts up to $500,000 between functions of the same fund. Attachment number 5\n F-6 Page 120