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9~ <br />INTERLOCAL AGREEMENT CONCERNING <br />CAPITAL PROJECTS FOR PUBLIC SCHOOLS <br />This Interlocal Agreement is dated as of January 19, 2006, and is by and <br />between ORANGE COUNTY, NORTH CAROLINA (the "County"), and THE <br />CHAPEL HILL-CARRBORO CITY SCHOOLS BOARD OF EDUCATION <br />(the "School Board"), and provides as follows: <br />The County and the School Board have agreed on an arrangement to <br />facilitate their cooperation in certain projects for additions, improvements, <br />renovations and repairs to School Board property. <br />Under this arrangement, the School Board will transfer property to the <br />County. The School Board will then lease the property back from the County. The <br />School Board, on the County's behalf, will arrange for contracts for the <br />contemplated projects. The County will disburse funds to contractors. <br />This arrangement is intended to be flexible and to include a wide range of <br />capital projects for public schools operated by the School Board. <br />Capitalized terms used in this Agreement and not otherwise defined have the <br />meanings set forth in Exhibit A. <br />Now, therefore, for and in consideration of the mutual promises in this <br />Agreement, the parties agree as follows: <br />1. The School Board will convey Contract Property to the County <br />Whenever the School Board determines that it would be in the School <br />Board's interest in carrying out a Project for some of the School Board's property <br />to become Contract Property subject to the terms of this Agreement, the School <br />Board will convey such property to the County pursuant to the following <br />provisions: <br />a) The School Board will publish a notice of public hearing, in <br />substantially the form of Exhibit B, at least ten days prior to the hearing date. As <br />shown in Exhibit B, the notice will describe, in brief and general terms, the <br />94432v1 1 <br />