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PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND <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 the various County construction and renovation related <br />projects. Details of the projects 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 <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 />Lottery Proceeds $18,019,308 <br />Lottery Proceeds — Rowan County 300,000 <br />TOTAL REVENUES $18,319,308 <br />$18,319,308 <br />GRAND TOTAL — REVENUES $18,319,308 <br />D. The following appropriations are made as listed. <br />Debt Service $16,419,308 <br />Construction 1,600,000 <br />Debt Service — Rowan County 300,000 <br />TOTAL EXPENDITURES $18,319,308 <br />$18,319,308 <br />GRAND TOTAL — EXPENDITURES $18,319,308 <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 />statutorily permissible public purposes. <br />B. The County Manager or designee is hereby authorized to transfer appropriations <br />within or between funds, or modify revenue and expenditure projections as <br />contained herein under the following conditions: <br />1. The Manager may transfer amounts between objects of expenditure and <br />revenues within a function without limitation. <br />Attachment number 4 \n <br />F -5 Page 55 <br />