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COMMUNITY DEVELOPMENT URGENT REPAIR PROJECT ORDINANCE <br />CAPITAL RESERVE FUND - UTILITIES <br />BE IT ORDAINED, by the Board of County Commissioners of the <br />County of Cabarrus, North Carolina that, pursuant to Section 13.2 of <br />Chapter 159 of the General Statutes of North Carolina, the following <br />capital reserve utility project ordinance is hereby adopted: <br />Section 1. The projects authorized are for urgent repair <br />activities for qualified clients based on HUD income guidelines. <br />Section 2. The officers of this unit are hereby directed to <br />proceed with this Project within the terms contained in this project <br />ordinance. <br />Section 3. The following budgeted amounts are appropriated <br />for the projects: <br />Urgent Repair Projects $ 73,983 <br />Section 4. The following revenue is anticipated to be <br />available to complete these projects: <br />Interest on Investments $ 73,983 <br />Section 5. The Finance Officer is hereby directed to maintain <br />within the Capital Reserve Utility 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. Reimbursement requests <br />should be made to the grantor agencies in an orderly and timely <br />manner. <br />Section 7. The Finance Officer is directed to report, at the <br />request of the Board, on the financial status of each current <br />project element in Section 3 and on the total revenues received or <br />claimed. <br />Section 8. Copies of this project ordinance shall be furnished <br />to the Clerk to the Governing Board, and to the Budget Officer and <br />the Finance Officer for direction in carrying out this project. <br />Section 9. At the completion of each individual project, all <br />unrestricted excess funds are transferred to the Capital Reserve <br />Fund and the Urgent Repair Project Ordinance is closed. <br />Section 10. The County Manager is hereby authorized to transfer <br />revenues and appropriation within an ordinance as contained herein under <br />the following conditions: <br />a. The Manager may transfer amounts between objects of expenditures <br />and revenues within a function without limitation. <br />b. The Manager may transfer amounts up to $100,000 between functions <br />of the same ordinance. <br />Attachment number 2 <br />Page 108 of 315 <br />F-2 <br />