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CABARRUS COUNTY ADEQUATE FACILITIES <br />SPECIAL REVENUE PROJECT ORDINANCE <br />BE IT ORDAINED, by the Board of County Commissioners of the <br />County of Cabarrus, North Carolina that, pursuant to Section 13.2 <br />of Chapter 159 of the General Statutes of North Carolina, the <br />following special revenue project ordinance is hereby adopted: <br />Section 1. The special revenue project authorized is for <br />the purpose of collecting and appropriating Adequate Facility <br />Fees for school facilities, land, architect, improvements or <br />Furniture and Fixtures at the discretion of the Cabarrus County <br />Board of Commissioners. <br />Section 2. The officers of this unit are hereby directed <br />to proceed with this project within the terms of the Generally <br />Accepted Accounting Principles (GAAP) and the budget contained <br />herein. <br />Section 3. The following budgeted amounts are appropriated <br />for the projects: <br />Facility Projects $ 946,725 <br />Contribution to Capital Projects Fund $7,340,092 <br />Section 4. The following revenues are anticipated to be <br />available to complete this project: <br />Adequate Facilities Fees $6,803,322 <br />Interest on Investments $ 239,066 <br />Contribution from General Fund $ 97,750 <br />Contribution from Capital Projects Fund $ 700,764 <br />Contribution from Capital Reserve Fund $ 445,915 <br />Section 5. The Finance Officer is hereby directed to <br />maintain within the Special Revenue Fund sufficient detailed <br />accounting records. <br />Section 6. Funds may be advanced from the General Fund for <br />the purpose of making payments as due. Reimbursement 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 special revenue project <br />ordinance shall be furnished to the Clerk to the Governing Board, <br />and to the Budget Officer and the Finance Officer for direction <br />in carrying out this project. <br />Section 9. At the completion of the project, all <br />unrestricted excess funds are transferred to the Capital Reserve <br />Fund and the Special Revenue Project Ordinance is closed. <br />Section 10. The County Manager is hereby authorized to <br />transfer revenues and appropriation within an ordinance as <br />contained herein under the following conditions: <br />Attachment number 3 <br />F-5 Page 90 <br />