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ao <br />Revenues generated by the LME shall be utilized by the LME and <br />not apportioned among-the Parties. It is the Parties' intention that <br />the LME operate on an annual balanced budget ordinance in accordance <br />with the provisions of Chapter 159 of the North Carolina General <br />Statutes and that all costs of the LME for the exercise of the <br />Undertaking are to be covered by its revenues (including payments, <br />grants and state appropriations), together with the appropriations <br />made to it by each Party in accordance with the Agreement. <br />17. ADOPTION AND ADMINISTRATION OF PROGRAM BUDGET <br />The Governing Board shall adopt and administer the program budget <br />of the LME in accordance with Chapter 159 of the North Carolina <br />General Statutes. The program budget of the LME shall be the proposed <br />revenue and expenditure plan for the specified programs, functions, <br />activities and objectives of the LME for each fiscal year. The LME <br />shall operate under an annual balanced budget. The Parties further <br />agree that the LME program budget shall be based upon the following <br />assumptions: all three counties will share proportionately in the <br />costs of those programs that meet the basic requirements under state <br />law for service to the catchment area; all three counties will share <br />proportionately in the costs of those programs that serve and benefit <br />all three counties alike; and individual counties will be responsible <br />for the full costs of those programs that serve and benefit their <br />unique county needs. <br />• <br />•i <br />•i <br />-14- <br />