BC 2006 06 19 REGULAR - Laserfiche WebLink

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June 19, 2006 - Regular Meeting Page 655 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, Kannapolis City and the Rowan Cabarrus Community College School Systems. The capital projects will be financed by General Obligation Bonds. Section 2. wi th this capital resolution and the The officers of this unit are hereby directed to proceed project within the terms of the General Obligation Bond budget contained herein. Section 3. projects: The following budgeted amounts are appropriated for the Cabarrus County School System: New High School Odell Elementary Replacement A T Allen Renovations New Northwest Elementary New Southwest Elementary Northwest High Science Wing Concord High Media Wing $35,408,510 $13,728,620 $ 2,900,000 $12,134,855 $12,034,855 $ 2,500,000 $ 3,500,000 Kannapolis City School System A L Brown Auditorium Renovation Kannapolis Middle-Gym, Classrooms and lockers Shady Brook Elementary Replacement A L Brown Classroom Bldg & Aux Gym Forest Park Classroom Addition Central Office Addition $ 520,000 $ 327,600 $ 6,282,278 $ 3,109,207 $ 1,196,118 $ 1,029,114 Rowan Cabarrus Community College Building 3000 $ 3,065,141 School Financing Costs $ 263,702 Section 4. The following revenues are anticipated to be available to complete this project: Proceeds from General Obligation Bonds $98,000',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 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, 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 unrestricted excess funds are transferred to the Debt Service and the Capital Project Ordinance is construction project, all General Fund for payment of 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 and revenues within a function without limitation. b. The Manager may transfer amounts up to $100,000 between functions of the same ordinance. c. The Manager may transfer amounts between contingency funds which are set aside for a specific projects upon the appropriate approval of the change order by the school systems.