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Agenda - 05-03-2012 - 1
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Agenda - 05-03-2012 - 1
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11/17/2015 12:16:03 PM
Creation date
5/1/2012 9:36:13 AM
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BOCC
Date
5/1/2012
Meeting Type
Work Session
Document Type
Agenda
Agenda Item
1
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Minutes 05-03-2012
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\Board of County Commissioners\Minutes - Approved\2010's\2012
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5 <br />8. Pursuant to NCGS 105-507.3(b) TTA shall be responsible for ensuring that no <br />funds generated by the sales tax authorized in NCGS 105-509 are used by <br />the Parties or any other recipient of these funds to supplant or replace <br />existing funds or other resources for public transportation systems. <br />9. The Parties agree that Durham and TTA shall enter into an agreement <br />pursuant to NCGS 105-508.1(2) ("Implementation Agreement"). <br />10. Th Parties agree that Orange and TTA shall enter into an agreement pursuant <br />to NCGS 105-508.1(2) ("Implementation Agreement"). <br />11. If, during the term of this Agreement, state and/or federal funds to be used for <br />the LRT Project are cancelled, terminated, withdrawn, or otherwise become <br />unavailable for the LRT Project the Parties agree the funds generated by the <br />sales tax authorized in NCGS 105-509'and any other funds collected fo[ the <br />LRT Project shall be allocated as provided in each Party's Implementation <br />Agreement. Orange and Durham shall renegotiate this Agreement if the LRT <br />project is modified to exclude a portion of the corridor between Gateway <br />Station and UNC. <br />12. The term of this Agreement shall be from the date first above recorded to and <br />including June 30, 2035. Upon its expiration'the Agreement may be renewed <br />upon mutual agreement of the Parties for successive three-year terms. <br />13. The Part~es agree to :review this Agreement and to make any needed <br />modifications to its terms not more than once every three years. <br />14. The Agreemen# may be terminated upon mutual agreement of the Parties or <br />by one or more of the Parties upon a material breach by any of the Parties. <br />15. An amendement, renewal, or termination of this Agreement must be in the <br />form of a written instrument noticed to the County Manager of Durham or <br />Orange or to the General Manager of TTA. <br />Page ~ 3 <br />
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