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CABARRUS COUNTY SCHOOL CONSTRUCTION DEBT 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 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 />Capital Reserve Contribution $5,114,100 <br />General Fund Contribution $1,319,000 <br />TOTAL REVENUES $6,433,100 <br />D. The following appropriations are made as listed. <br />Kannapolis Middle School $2,168,100 <br />Royal Oaks Elementary School $1,645,000 <br />Mt. Pleasant Middle School $2,620,000 <br />TOTAL EXPENDITURES $6,433,100 <br />GRAND TOTAL — REVENUES $6,433,100 <br />GRAND TOTAL — EXPENDITURES $6,433,100 <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 \n <br />F -5 Page 85 <br />