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JUSTICE CENTER CONSTRUCTION CAPITAL PROJECTS FUND <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 the architectural design <br />of a new Cabarrus County Justice Center. Architect expenses will <br />be funded from the Capital Reserve Fund. <br />Section 2. The officers of this unit are hereby directed <br />to proceed with this capital project within the terms of the <br />Generally Accepted Accounting Principles (GAAP) and the budget <br />contained herein. <br />Section 3. The following budgeted amounts are appropriated <br />for the projects: <br />Justice Center Construction $123,507,415 <br />Section 4. The following revenues are anticipated to be <br />available to complete this project: <br />Transfer from the Capital Reserve Fund $ 6,458,772 <br />Interest on Investments 2,285,833 <br />Transfer from the General Fund 6,076,843 <br />Proceeds from Debt issuance 108,685,967 <br />Section 5. The Finance Officer is hereby directed to <br />maintain within the Capital Project Fund sufficient detailed <br />accounting records to satisfy the requirements of the law. <br />Section 6. Funds may be advanced from the General Fund for <br />the purpose of making payments as due. Reimbursements 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 3 and on the total revenues received or <br />claimed. <br />Section 8. Copies of this capital project ordinance shall <br />be furnished to the Clerk to the Governing Board, and to the <br />Budget Officer and the Finance Officer for direction in carrying <br />out this project. <br />Section 9. At the completion of the construction project, <br />all unrestricted excess funds are transferred to the General Fund <br />for payment of Debt Service and the Capital Project Ordinance <br />is closed. <br />Attachment number 5 <br />F -8 Page 190 <br />