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February 19, 2018 (Regular Meeting) <br />Page 3447 <br />Byre: Y3sRaRs amMM: ssapo,Bm.Bp <br />Brot XnR:s -an Fewnm nIaROYetl bV Yem Bgaftn f!Fin mce-3701 20M <br />I, IM em al bans(m vA min DeW,smeM � TNnSkf belweM OeW Rmmts/Fu ntls su pplemenulnqua <br />ITM1 BUOgNamMOmMtratntlsfu retleKproc edsin IbeaMWnt M$25,88,088.00br NeWBS"WNa S thwest Elememaq Selnolpmjatantl <br />buEgdbrthe Construdiona¢ouM. Contraau MIInee tobepreaudittlbebrethe MNLOBSprareeBsarerere antlapreyWbLanndbe <br />e Wal until a Wdgtt is in pope. <br />WM <br />IM'retw <br />BMM AMY <br />kmunt Ne me <br />�1,WW <br />MneueAmeu nt <br />RMutlau tleC <br />310 <br />6 <br />1.. <br />pmme46 coexoss <br />II,[W,COl40 <br />25p '"W <br />370 <br />9 <br />19G.. <br />IIru¢bn <br />25.LOB�UO <br />25,09,830-03 <br />Ordinance No. 2018-05 <br />CABARRUS COUNTY <br />LIMITED OBLIGATION BONDS 2018 PROJECT <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes <br />of North Carolina, the following capital project ordinance is hereby adopted: <br />Section I. <br />A. The project authorized is for the construction and renovations of <br />Public Schools. Details of the project are listed in section C. of <br />this Project Ordinance. <br />B. The officers of this unit are hereby directed to proceed with this <br />capital project within the terms of the Generally Accepted Accounting <br />Principles (GAAP) and the budget contained herein. <br />It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />Capital Reserve Contribution $3,500,200 <br />Capital Project Fund Contribution 517,197 <br />General Fund Contribution 766,000 <br />Debt Proceeds 25,000,000 <br />TOTAL REVENUES $29,783,397 <br />C. The following appropriations are made as listed. <br />RCCC - Advanced Technology Center $1,580,396 <br />New Cabarrus County Elementary School 28,203,001 <br />TOTAL EXPENDITURES $29,783,397 <br />GRAND TOTAL - REVENUES $29,783,397 <br />GRAND TOTAL - EXPENDITURES $29,783,397 <br />Section II. <br />A. Special appropriations to non-profit organizations shall be <br />distributed after the execution of an agreement which ensures that <br />all County funds are used for statutorily permissible public <br />purposes. <br />B. The County Manager or designee is hereby authorized to transfer <br />appropriations within or between funds, or modify revenue and <br />expenditure projections as contained herein under the following <br />conditions: <br />1. The Manager may transfer amounts between objects of expenditure <br />and revenues within a function without limitation. <br />2. The County Manager may transfer amounts up to $500,000 between <br />functions of the same fund. <br />3. The County Manager may transfer amounts between contingency funds <br />which are set aside for a specific project for budgetary <br />shortfalls or upon the appropriate approval of a change order. <br />