AN ORDINANCE TO AMEND THE CAPITAL PROJECTS ORDINANCE FOR VARIOUS CAPITAL PROJECTS (2005-06-27/O-8)

 

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 various capital projects funded from a variety of sources is hereby amended as follows:

 

SECTION I

 

The capital projects as authorized by the Town Council includes various capital projects funded from grants, the Capital Improvements Program funds, and other miscellaneous sources of revenue for a variety of projects extending beyond one fiscal year.

 

SECTION II

 

The Manager of the Town of Chapel Hill is hereby directed to proceed with implementation of these projects within terms of funds appropriated here.

 

SECTION III

 

Revenues anticipated to be available to the Town to complete the project are hereby amended as follows:

 

                                                                        Current Budget          Revised Budget

 

         Southern Community Park                                                                                           

            Orange County Parks and Recreation                                                                       

            Bonds Contribution                                                3,000,000                    3,000,000

            Land Sale                                                                   148,059                       148,059

            Parks and Recreation Trust Fund Grant                                -                       500,000

         Southern Community Park Sub-Total                        3,148,059                    3,648,059

         Other Projects                                                            2,694,805                    2,694,805

        

         Total                                                                           5,842,864                    6,342,864

 

SECTION IV

 

Amounts appropriated for capital projects are hereby amended as follows:

 


                                                                        Current Budget         Revised Budget

 

         Southern Community Park                                        3,148,059                    3,648,059

         Other Projects                                                            2,694,805                    2,694,805

        

         Total                                                                           5,842,864                    6,342,864

 

SECTION V

 

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.

 

SECTION VI

 

Copies of this projects ordinance shall be entered into the Minutes of the Council and copies shall be filed within 5 days of adoption with the Manager, Finance Director and Clerk.

 

This the 27th day of June, 2005.