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CABARRUS COUNTY
<br />SCHOOL CAPITAL PROJECTS
<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 School Facilities.
<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 />Contribution from General Fund/CIF
<br />$ 71,686,261
<br />Contribution from Capital Projects Fund
<br />9,383,614
<br />Debt Proceeds 2020 Draw / 2022 LOBs
<br />45,227,096
<br />Debt Proceeds 2022 Draw / 2024A LOBs
<br />58,308,011
<br />Debt Proceeds 2024B LOBS
<br />120,855,302
<br />Future Debt
<br />104,600,000
<br />Contribution from Capital Reserve Fund
<br />693,429
<br />Contribution from Convention & Visitors Bureau
<br />1,550,000
<br />Grant
<br />1,950,000
<br />Interest
<br />6,801,915
<br />TOTAL REVENUES $421,055,628
<br />C. The following appropriations are made as listed.
<br />CCS Mobile Unit Renovation
<br />$ 3,300,000
<br />R. Brown McAllister Replacement
<br />48,326,750
<br />Roberta Road Middle School
<br />58,073,579
<br />CCS New High School
<br />9,513,790
<br />CCS Southeast High School — Land purchase
<br />1,816,320
<br />Early College Mobile Units
<br />2,536,331
<br />Mondo Track — JM Robinson High School
<br />1,550,000
<br />Deferred Maintenance Cabarrus County Schools
<br />36,229,617
<br />Deferred Maintenance Kannapolis City School
<br />8,890,034
<br />Deferred Maintenance Rowan Cabarrus Community College
<br />3,652,500
<br />Central Cabarrus Track
<br />1,155,000
<br />Hickory Ridge Football Field and Track
<br />1,925,000
<br />Tennis Courts — Cox Mill, Central Cabarrus, Northwest
<br />1,495,000
<br />Mary Frances Wall Renovations
<br />14,740,000
<br />Weddington Hills Elementary School HVAC
<br />7,006,377
<br />Concord High School HVAC
<br />9,091,958
<br />Opportunity School
<br />11,731,149
<br />Hickory Ridge High School Roof
<br />1,882,464
<br />Page 191
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