Orange County NC Website
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For Information Only D 1~/1FT <br />WHEREAS, to distinguish and separate the revenues produced by this ~/ cent sales tax if <br />approved by Orange County voters, a Special Revenue Fund will be established to receive <br />and account for the sales tax revenue. These funds will remain separate from the county's <br />genera[ fund to allow for more accurate tracking of revenues and expenditures in accordance <br />with initial five year allocation plan established as part of this resolution; <br />NOW, THEREFORE, BE 1T RESOLVED THAT the Orange County Board of Commissioners <br />hereby states its intent to use the revenues from the Article 46 one-quarter cent ~114~} <br />County sales and use tax, if approved by the voters of Orange County, for currently unfunded <br />or underfunded economic development and public school capital needs far a period of ten <br />years, with a scheduled implementation date of April 1, 2012. <br />BE IT FURTHER RESOLVED THAT proceeds from the one-quarter cent (1/4¢) County sales <br />and use tax in later years will be used to address priorities as established by the Board of <br />Commissioners in the County's Capital Investment Plan. <br />This the day of , X011. <br /> <br />Bernadette Pelissier, Chair <br />Orange County Board of Commissioners <br />