Title
Vote on a request to adopt the proposed amended Animal Shelter Project Ordinance and the proposed amended CCCC Health Sciences Project Ordinance
Abstract
Action Requested: Motion to adopt the proposed amended Animal Shelter Project Ordinance and the proposed amended CCCC Health Sciences Project Ordinance
Introduction & Background: Section 13.2 of Chapter 159 of the General Statutes of North Carolina states that a project ordinance shall be adopted by the governing board for all capital projects.
Discussion & Analysis: Attached is a proposed amended project ordinance for the Animal Shelter Project and a proposed amended project ordinance for the CCCC Health Sciences Project. The proposed Animal Shelter project reflects signed construction contract amount authorized by the Board in May. The proposed CCCC Health Science project budget reflects the transfer in to the project from the debt reserve to upfront costs needed prior to the loan closing and reflects the transfer out of the project in the same amount to reimburse the debt reserve.
Budgetary Impact: The budget for the Animal Shelter Project totals $6,445,281 and will be funded from capital reserve. The budget for the CCCC Health Science Project totals $14,260,498 and is funded with limited obligation bonds.
Recommendation: Motion to adopt the proposed amended Animal Shelter Project Ordinance and the proposed amended CCCC Health Sciences Project Ordinance