AG 2004 08 16 - Laserfiche WebLink

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Revised 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 of a parking lot and the design cost of building 3000 at Rowan Cabarrus Community College and Phase I and Phase II renovation of the old Cabarrus County School Administration Building. The capital projects will be financed by Installment Financing and a contribution from the Cabarrus County General Fund for Phase I renovations. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Installment Financing resolution and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Parking Lot RCCC Design Cost of Building 3000 at RCCC Phase I School Administration Building Phase II School Administration Building $ 400,000 $ 500,00o $ 189,500 $2,853,728 Section 4. The following revenues are anticipated to be available to complete this project: Proceeds from Installment Financing $3,753,728 Contribution from Cabarrus County General Fund $ 189,500 Section 5. The Finance Officer is hereby directed to maintain within the Capital Project Fund sufficient detailed accounting records to satisfy the terms of the Installment 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, on a mcntkly basis at the request of the Board, on the financial status of each project 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. Section 10. The County Manager is hereby authorized to transfer revenues and appropriation within an ordinance as contained herein under the following conditions: a. The Manager may transfer amounts between objects of expenditures