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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 $40,039,743 <br />Contributions from CVB $398,000 <br />Interest on Investments $286,142 <br />TOTAL REVENUES $40,723,885 <br />D. The following appropriations are made as listed: <br />Northwest Area Elementary School $16,000,000 <br />Mt. Pleasant Middle School Replacement $13,486,500 <br />County Facility Projects $6,331,633 <br />Park Projects $3,243,573 <br />Park Projects /CVB $398,000 <br />Other County Capital Projects $609,136 <br />Community College Renovations $280,043 <br />Harrisburg EMS Station $375,000 <br />TOTAL EXPENDITURES $40,723,885 <br />GRAND TOTAL — REVENUES $40,723,885 <br />GRAND TOTAL — EXPENDITURES $40,723,885 <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 />Attachment number 3 <br />F -3 Page 59 <br />