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CABARRUS COUNTY LIMITED OBLIGATION BONDS 2017 PROJECT BUDGET ORDINANCE BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina that, Pursuant to Secton 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section I. A. The project authorized is for the construction of a Parking Deck. Details of the project are listed in section C. of this Project Ordinance. B. The officers of this unit are hereby directed to proceed with this capital project within the terms of the Generally Accepted Accounting Principles (GAAP) and the budget contained herein. It is estimated that the following revenues will be available to complete capital projects as listed. Debt Proceeds $79,194,879 General Fund Contribution 997,000 Capital Projects Fund 7,179,803 Capital Reserve Contribution 6,509,665 TOTAL REVENUES $93,881,347 C. The following appropriations are made as listed. Financing Costs $814,779 Parking Deck Downtown Concord 13,583,850 Performance Learning Center 4,000,000 Other County Projects 2,472,973 West Cabarrus High School 73,009,745 TOTAL EXPENDITURES $93,881,347 GRAND TOTAL — REVENUES $93,881,347 GRAND TOTAL — EXPENDITURES $93,881,347 Section II. A. Special appropriations to non-profit organizations shall be distributed after the execution of an agreement which ensures that all County funds are used for statutorily permissible public purposes. B. The County Manager or designee is hereby authorized to transfer appropriations within or between funds, or modify revenue and expenditure projections as contained herein under the following conditions: 1. The Manager may transfer amounts between objects of expenditure and revenues within a function without limitation. Page 108