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PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND <br />CAPITAL PROJECT ORDINANCE <br />BE IT ORDAINED, by the Governing Board of Cabarrus County, <br />North Carolina, that, pursuant to Section 13.2 of Chapter 159 of the <br />General Statutes of North Carolina, the following capital project <br />ordinance is hereby adopted: <br />Section 1. The project authorized for smaller non-debt <br />Capital Projects conducted by the County. <br />Section 2. The officers of this unit are hereby directed to <br />proceed with this capital project within the terms contained in this <br />project ordinance. <br />Section 3. The following budgeted amounts are appropriated <br />for the projects: <br />State Public School Funds $ 796,000 <br />Lottery Proceeds 7,027 540 <br />Lottery Proceeds-Rowan County Projects 268,500 <br />Total $ 8,092,040 <br />Section 4. The following revenues are anticipated to be <br />available to complete this project: <br />Public School Expenditures $ 746,000 <br />Contribution - Capital Proj Fund -Lottery 7,027,540 <br />Lottery Expenditures - Rowan County - 268,500 <br />Total $ 8,042,090 <br />Section 5. The Finance Officer is hereby directed to maintain <br />within the Capital Project Fund sufficient detailed accounting <br />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 the <br />request of the Board, on the financial status of each project <br />element in Section 3 and on the total revenues received or claimed. <br />Section 8. The Budget Officer is directed to include a <br />detailed analysis of past and future costs and revenues on this <br />capital project in every budget submission to this Board. <br />Section 9. Copies of this capital project ordinance shall be <br />furnished to the Clerk of Cabarrus County, and to the Budget Officer <br />and the Finance Director for direction in carrying out this project. <br />Section 10. At the completion of each individual project, all <br />unrestricted excess funds are transferred to the Capital Reserve <br />Fund and accounting for the individual Capital Project is written <br />off. <br />F-tl <br />