AG 2001 07 23 - Laserfiche WebLink

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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 the Cabarrus County Exposition Park to be financed by Lease Financing and with additional funding being provided from other funding sources of the County. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Lease Financing resolution and the budget contained herein. Section 3. The following amount is appropriated for the project: Cabarrus County Exposition Park $19,282,564.82 Section 4. The following revenues are anticipated to be available to complete this project: Proceeds from Lease Financing $ 9,950,000.00 Transfer from the General Fund $ 9,332,564.82 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 Lease 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 agency in an orderly and timely manner. Section 7. The Finance Officer is directed to report, on a monthly basis, 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. Adopted this 23rd day of July, 2001. CABARRUS COUNTY BOARD OF COMMISSIONERS BY: Arne Fennel, Chair ATTEST: Clerk to the Board