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AG 2016 05 16
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AG 2016 05 16
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Last modified
5/18/2016 12:20:36 PM
Creation date
11/27/2017 10:33:09 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/16/2016
Board
Board of Commissioners
Meeting Type
Regular
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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 <br />Charges - <br />Concord <br />$ <br />3,585 <br />Renovations <br />& Upfit at <br />Concord Branch <br />$ <br />1,080,331 <br />Renovations <br />& Upfit at <br />Mt. Pleasant Branch <br />$ <br />9,740 <br />Renovations <br />& Upfit at <br />Kannapolis Branch <br />$ <br />50,000 <br />Total <br />$ <br />1,143,656 <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 $ 153,951 <br />Interest on Investments - Trust $ 44,876 <br />Private Donation for Mt. Pleasant Library $ 9,740 <br />Total <br />$ 1,143,656 <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 anc�'ttachment number 3 \n <br />the Capital Project Ordinance is closed. <br />F -4 Page 78 <br />
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