AG 2010 03 15 - Laserfiche WebLink

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Revised CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina, that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section 1. The project authorized the architectural design of a new Cabarrus County Justice Center. Architect expenses will be funded from the Capital Reserve Fund. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Justice Center Construction $123,507,415 Section 4. The following revenues are anticipated to be available to complete this project: Transfer from the Capital Reserve Fund $ 6,458,772 Interest on Investments 2,285,833 Transfer from the General Fund 6,076,843 Proceeds from Debt issuance 108,685,967 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Section 7. The Finance Officer is directed to report at the request of the Board, on the financial status of each project element in Section 3 and on the total revenues received or claimed. Section 8. Copies of this capital project ordinance shall be furnished to the Clerk to the Governing Board, and to the Budget Officer and the Finance Officer for direction in carrying out this project. Section 9. At the completion of the construction project, all unrestricted excess funds are transferred to the General Fund for payment of Debt Service and the Capital Project Ordinance is closed. Section 10. The County Manager is hereby authorized to transfer revenues and appropriation within an ordinance as contained herein under the following conditions: F-3 Attachment number 1 Page 57