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June 19, 2006 - Regular Meeting Page 645 ATTEST: Is/Frankie F. Bonds Frankie F. Bonds, Clerk to the Board Ordinance No. 2006-07 CABARRUS COUNTY ADEQUATE FACILITIES SPECIAL REVENUE 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 special revenue project ordinance is hereby adopted: Section 1. The special revenue proj ect authorized is for the purpose of collecting and appropriating Adequate Facility Fees for school facilities, land, architect, improvements or Furniture and Fixtures at the discretion of the Cabarrus County Board of Commissioners. Section 2. ,The officers of this unit are hereby directed to proceed with this project within the terms of the Generally Accepted Accounting Principals (GAAP) and the budget contained herein. Section 3. projects: The following budgeted amounts are appropriated for the Facility Projects $1,238,000 Section 4. The following revenues are anticipated to be available to complete this project: Adequate Facilities Fees Interest on Investments Contribution from General Fund Contribution from Capital Reserve Fund $ 656,032 $ 38,303 $ 97,750 $ 445,915 Section 5. The Finance Officer is hereby directed to maintain within the Special Revenue Fund sufficient detailed accounting records. Section 6. Funds may be advanced from the General Fund for the purpose of making payments as due. Reimbursement to the General Fund should be made in an orderly and timely manner. Section 7. of the Board, on and on the total The Finance Officer is directed to report, at the request the financial status of each proj ect element in Section 3 revenues received or claimed. Section 8. Copies of this special revenue proj ect 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 project, all unrestricted excess funds are transferred to the Capital Reserve Fund and the Special Revenue 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 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. d. The Manager may enter into and execute change orders or amendments to County construction contracts in amounts up to $50,000 when the project ordinance contains sufficient appropriated but unencumbered funds. Adopted this 19th day of June 2006. ATTEST: /s/ Frankie F. Bonds Frankie F. Bonds, Clerk CABARRUS COUNTY BOARD OF COMMISSIONERS BY: /s/ Robert W. Carruth Robert W. Carruth, Chairman to the Board