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AG 2017 10 16
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AG 2017 10 16
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Last modified
10/18/2017 10:51:44 AM
Creation date
11/27/2017 10:31:03 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
10/16/2017
Board
Board of Commissioners
Meeting Type
Regular
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CABARRUS COUNTY <br /> LIMITED OBLIGATION BONDS 2017 PROJECT <br /> BUDGET ORDINANCE <br /> BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina <br /> that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the <br /> following capital project ordinance is hereby adopted: <br /> Section I. <br /> A. The project authorized is for the construction of a Parking Deck. Details of the project <br /> are listed in section C. of this Project Ordinance. <br /> B. The officers of this unit are hereby directed to proceed with this capital project within <br /> the terms of the Generally Accepted Accounting Principles (GAAP) and the budget <br /> contained herein. <br /> It is estimated that the following revenues will be available to complete capital <br /> projects as listed. <br /> General Fund Contribution $997,000 <br /> Capital Reserve Contribution 5,049,665 <br /> Capital Projects Fund 7,179,803 <br /> Debt Proceeds 77,005,141 <br /> TOTAL REVENUES $90,231,609 <br /> C. The following appropriations are made as listed. <br /> Parking Deck Downtown Concord $13,203,850 <br /> New Cabarrus County High School 70,020,495 <br /> Performance Learning Center 3,866,000 <br /> Warehouse 2,141,264 <br /> Financing Costs 1,000,000 <br /> TOTAL EXPENDITURES $90,231,609 <br /> GRAND TOTAL— REVENUES $90,231,609 <br /> GRAND TOTAL— EXPENDITURES $90,231,609 <br /> Section II. <br /> A. Special appropriations to non-profit organizations shall be distributed after the <br /> execution of an agreement which ensures that all County funds are used for statutorily <br /> permissible public purposes. <br /> B. The County Manager or designee is hereby authorized to transfer appropriations within <br /> or between funds, or modify revenue and expenditure projections as contained herein <br /> under the following conditions: <br /> 1. The Manager may transfer amounts between objects of expenditure and <br /> revenues within a function without limitation. <br /> 2. The County Manager may transfer amounts up to$500,000 between functions of <br /> the same fund. <br /> Attachment number 5\n <br /> G-7 Page 166 <br />
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