BE IT ORDAINED by the Council of the Town of Chapel Hill that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the capital projects ordinance for library facilities is hereby amended as follows:
The capital projects as authorized by the Town Council includes capital improvements to library facilities extending beyond one fiscal year.
The Manager of the Town of Chapel Hill is hereby directed to proceed with implementation of these projects within terms of funds appropriated here.
Revenues anticipated to be available to the Town to complete the project are hereby amended as follows:
|
|
Current Budget |
Revised Budget |
|
Interest Earnings |
$ 0 |
$ 10,000 |
|
Proceeds from Bond Sales |
500,000 |
2,000,000 |
|
Total |
$500,000 |
$2,010,000 |
Amounts appropriated for capital projects are hereby amended as follows:
|
|
Current Budget |
Revised Budget |
|
General Bond Costs |
$ 0 |
$ 10,000 |
|
Library Design and Engineering |
499,500 |
1,980,000 |
|
Art Acquisition |
500 |
20,000 |
|
Total |
$500,000 |
$2,010,000 |
The Manager is directed to report annually on the financial status of the project in an informational section to be included in the Annual Budget, and shall keep the Council informed of any unusual occurrences.
Copies of this projects ordinance shall be entered into the minutes of the Council and copies shall be filed within five days of adoption with the Manager, Finance Director and Clerk.
This the 8th day of January, 2007.