Laserfiche WebLink
CABARRUS COUNTY <br />LIMITED OBLIGATION BONDS 2018 PROJECT <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina <br />that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the <br />following capital project ordinance is hereby adopted: <br />Section I. <br />A. The project authorized is for the construction and renovations of Public Schools. <br />Details of the project are listed in section C. of this Project Ordinance. <br />B. The officers of this unit are hereby directed to proceed with this capital project within <br />the terms of the Generally Accepted Accounting Principles (GAAP) and the budget <br />contained herein. <br />It is estimated that the following revenues will be available to complete capital <br />projects as listed. <br />Capital Reserve Contribution <br />$4,613,200 <br />Capital Project Fund Contribution <br />517,197 <br />General Fund Contribution <br />901,000 <br />Debt Proceeds <br />54,680,000 <br />TOTAL REVENUES $60,711,397 <br />C. The following appropriations are made as listed. <br />RCCC —Advanced Technology Center $15,873,396 <br />Hickory Ridge Elementary School -CCS 33,227,579 <br />Land - RCCC 1,721,000 <br />Legal Fees 505,534 <br />Mobile Units — CCS 2,095,676 <br />HVAC Replacement—JN Fries 3,011,267 <br />HVAC Replacement— Mt. Pleasant High 4,276,945 <br />TOTAL EXPENDITURES $60,711,397 <br />GRAND TOTAL — REVENUES $60,711,397 <br />GRAND TOTAL — EXPENDITURES $60,711,397 <br />Section II. <br />A. Special appropriations to non-profit organizations shall be distributed after the <br />execution of an agreement which ensures that all County funds are used for statutorily <br />permissible public purposes. <br />B. The County Manager or designee is hereby authorized to transfer appropriations within <br />or between funds, or modify revenue and expenditure projections as contained herein <br />under the following conditions: <br />F-1 Page 73 <br />