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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 />General Fund Contribution <br />$ 901,000 <br />Capital Project Fund Contribution <br />517,197 <br />Debt Proceeds <br />54,680,000 <br />Capital Reserve Contribution <br />5,509,745 <br />TOTAL REVENUES $61,607,942 <br />C. The following appropriations are made as listed. <br />Legal Fees $ 505,534 <br />HVAC Replacement — Mt. Pleasant High -CCS 4,276,945 <br />Mobile Units — CCS 2,095,676 <br />HVAC Replacement—JN Fries Middle -CCS 3,011,267 <br />Hickory Ridge Elementary -CCS 33,410,579 <br />RCCC —Advanced Technology Center 16,586,941 <br />Land - RCCC 1,721,000 <br />TOTAL EXPENDITURES $61,607,942 <br />GRAND TOTAL — REVENUES $61,607,942 <br />GRAND TOTAL — EXPENDITURES $61,607,942 <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 />Page 81 <br />