AG 2006 10 30 - Laserfiche WebLink

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$600,000 SCHOOL CONSTRUCTION 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 is the construction and renovations of Schools for the Cabarrus County and Kannapolis City School Systems. The capital projects will be financed by Capital Reserve funds and future debt issues. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of future debt resolutions and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Cabarrus County School System: New High School $600,000 Section 4. The following revenues are anticipated to be available to complete this project: Capital Reserve Funds $600,000 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the terms of future debt financing resolution. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement requests should be made to the grantor agencies in an orderly and timely manner. Section 7. The Finance Officer is directed to report, at the request of the Board! on the financial status of each proj ect 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. \=--\5