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CABARRUS COUNTY CAPITAL RESERVE <br />CAPITAL PROJECT 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 purpose of accumulating and appropriating funds <br />specifically for future County and School capital projects. <br />B. The officers of this unit are hereby directed to proceed with this capital project <br />within the terms of the Generally Accepted Accounting Principles (GAAP) and the <br />budget contained herein. <br />C. It is estimated that the following revenues will be available to complete capital <br />projects as listed. <br />Contributions from General Fund $63,853,907 <br />Contributions from CVB 843,617 <br />Contribution from Capital Projects Fund 6,600 <br />Interest on Investments 329,142 <br />TOTAL REVENUES $65,033,266 <br />D. The following appropriations are made as listed: <br />Odell 3 -5 Elementary School <br />$19,755,175 <br />Mt. Pleasant Middle School Replacement <br />3,237,692 <br />Royal Oaks Elementary <br />1,992,600 <br />Kannapolis Middle School <br />1,222,100 <br />School Contingency <br />3,235,336 <br />County Facility Projects <br />5,796,633 <br />Park Projects <br />4,243,573 <br />Park Projects /CVB <br />843,617 <br />Other County Capital Projects <br />22,066,497 <br />Community College Renovations <br />280,043 <br />Harrisburg EMS Station <br />375,000 <br />Cabarrus County Schools — Buses <br />875,000 <br />Cabarrus County Schools — Mobile Units <br />1,110,000 <br />TOTAL EXPENDITURES $65,033,266 <br />GRAND TOTAL — REVENUES $65,033,266 <br />GRAND TOTAL — EXPENDITURES $65,033,266 <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 <br />Attachment number 2 \n <br />F -3 Page 73 <br />