Title
Ordinance Making Appropriations to the Capital Projects Funds for the Fiscal Year Beginning July 1, 2024
Body
LEGISLATIVE INTENT/PURPOSE:
Appropriations to the Capital Projects Funds for the Fiscal Year beginning July 1, 2024.
THEREFORE, BE IT ORDAINED:
SECTION I: Pursuant to NCGS §159-13.2, the following appropriations are hereby made to the Capital Projects Funds, consistent with the Recommended Budget and any changes made during City Council’s work sessions, and the following revenues are estimated to be available during the fiscal year to meet these appropriations.
CAPITAL PROJECTS
Appropriations:
Streets and Sidewalks Capital Projects: $15,892,942
Parks and Recreation Capital Projects: $865,932
Public Improvements Projects: $2,599,095
Public Facilities Capital Projects: $657,579
Parking Capital Projects: $50,000
Storm Water Capital Projects: $11,532,524
Golf Capital Projects: $1,540,199
Total Appropriations: $33,138,271
Revenue:
Debt Service Paygo 80/20, FY25-29 $1,814,954
Debt Service Future Paygo Dedicated 1 Cent $2,374,095
Debt Service Paygo Mant.8/2, FY25-29 $1,270,000
General Fund $2,104,182
Golf Fund $1,540,199
Installment Financing Maint. 80/20, FY25-29 $5,080,000
Installment Financing 80/20, FY25-29 $7,259,817
Parking Facilities $50,000
Payment in Lieu Tree Removal $112,500
Revenue Bond Proceeds $7,456,137
Stormwater Management $4,076,387
Total Revenue: $33,138,271
SECTION II: All expenditures relating to obtaining any bond referendum and/or installment purchase adopted as part of the Budget will be reimbursed from bond proceeds and installment purchase proceeds and, if non-taxable, in accordance with the requirements of the United States Treasury Regulations Section 1.150-2.