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<br />Revised <br /> <br />$98 MILLION GENERAL OBLIGATION SCHOOL BOND <br />CAPITAL PROJECT ORDINANCE <br /> <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 capital project ordinance is hereby adopted: <br /> <br />Section 1. The project authorized is the construction and <br />renovations of Schools for the Cabarrus County, Kannapolis City and <br />the Rowan Cabarrus Community College School Systems. The capital <br />projects will be financed by General Obligation Bonds.. <br /> <br />Section 2. The officers of this unit are hereby directed to <br />proceed with this capital project within the terms of the General <br />Obligation Bond resolution and the budget contained herein. <br /> <br />Section 3. The following budgeted amounts are appropriated <br />for the proJects: <br /> <br />Cabarrus County School System: <br />New High School <br />Odell Elementary Replacement <br />A T Allen Renovations <br />New Northwest Elementary <br />New Southwest Elementary <br />Northwest High Science Wing <br />Concord High Media Wing <br /> <br />Kannapolis City School System <br />A L. Brown Auditorium Renovation <br />Kannapolis Middle-Gym, Classrooms <br />and lockers <br />Shady Brook Elementary Replacement <br />A L Brown Classroom Bldg & Aux Gym <br />Forest Park Classroom Addition <br />Central Office Addition <br /> <br />Rowan Cabarrus Community College <br />Building 3000 <br /> <br />School Financing Costs <br /> <br />Section 4. The following revenues <br />available to complete this project: <br /> <br />Proceeds from General Obligation Bonds <br /> <br />$35,408,510 <br />$13,728,620 <br />$ 2,900,000 <br />$12,134,855 <br />$12,034,855 <br />$ 2,500,000 <br />$ 3,500,000 <br /> <br /> $ 520,000 <br /> $ 327,600 <br /> $ 6,282,278 <br /> $ 3,109,207 <br /> $ 1,196,1l8 <br /> $ 1,029,1l4 <br /> $ 3,065,141 <br /> $ 263,702 <br />are anticipated to be <br /> <br />$98,000,000 <br /> <br />Section 5. The Finance Officer is hereby directed to maintain <br />wi thin the Capital Pyoj ect Fund sufficient detailed accounting <br />records to satisfy the terms of the Installment Financing <br />resolution. <br /> <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 project <br />element in Section 3 and on the total revenues received or claimed. <br /> <br />~- 20 <br />