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CABARRUS COUNTY SCHOOL CONSTRUCTION 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 and renovations of Public Schools. <br />Details of the projects are listed in section D. 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 />General Fund Contribution $4,220,339 <br />Capital Reserve Contribution $18,471,492 <br />Capital Projects Fund Contribution $2,738,951 <br />TOTAL REVENUES $25,430,782 <br />D. The following appropriations are made as listed. <br />Odell Grades 3 -5 Elementary School $21,217,372 <br />Northwest Middle School Roof $1,200,000 <br />Rocky River Elementary School Roof $1,494,205 <br />Winecoff Elementary School Roof $1,519,205 <br />TOTAL EXPENDITURES $25,430,782 <br />GRAND TOTAL — REVENUES $25,430,782 <br />GRAND TOTAL — EXPENDITURES $25,430,782 <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 />Attachment number 2 <br />G -3 Page 180 <br />