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31 <br />Attachment 3 <br />INTERLOCAL IMPLEMENTING AGREEMENT ON TRANSIT FUNDING <br />FOR ORANGE COUNTY <br />BETWEEN ORANGE COUNTY BOARD OF COMMISSIONERS AND <br />TRIANGLE TRANSIT AUTHORITY <br />This Interlocal Agreement ("Agreement") dated 2012 is <br />entered into by and between Orange County ("Orange"), a North Carolina County, and <br />Research Triangle Regional Public Transportation Authority, d/b/a Triangle Transit <br />("TTA"). Orange and TTA may be referred to individually as "Party" and collectively as <br />"Parties". This Agreement is made pursuant to Article 20 of Chapter 160A of the North <br />Carolina General Statutes. <br />Whereas, the Parties each desire to provide for the future transportation needs of <br />Durham and Orange, understanding that enhanced mobility options will support a high <br />quality of life, strengthen economic development, and enhance sustainability; and <br />Whereas, the Parties, together with Durham County entered into the Orange <br />County, Durham County and Research Triangl~. Regional Public Transportation <br />Interlocal Agreement for Cost Sharing for LRT Rail Project ("Cost Share Agreement") <br />outlining the provision of costs related to the planning, construction, operation, and <br />maintenance of a 17.3 mile passenger rail service running from Durham to Orange and <br />having 17 stations, four of which are located in Orange Couniy,(the "LRT Project"); and <br />Whereas, the Parties acknowledge that the LRT Project will be managed, <br />planned, constructetl, ` maintained and operated by the TTA according to Orange <br />County's Bus and Rail Investment Plan ("BRI Plan") as adopted or subsequently <br />modified by the Parties, which plan, shall be modified and amended as provided in this <br />Agreement; and <br />Whereas, pursuant to NCGS §105-508.2 (Article 43) and Chapter 105 Articles 50 <br />and 51, revenues will be collected by the Secretary of the North Carolina Department of <br />Revenue and distributed to TTA to'fund public transportation in TTA's jurisdiction <br />including the constr~ction, maintenance and operation of the LRT Project; and <br />Whereas, even if the LRT Project does not move forward due to a shortfall of <br />anticipated federal and/or state revenue the BRI Plan must address the expenditure and <br />distribution of funds generated pursuant to Articles 43, 50 and 51 and such BRI Plan <br />shall be governed by this Agreement. <br />Now therefore, in light of the mutual covenants contained herein the Parties <br />hereby agree as follows: <br />1. APPROVAL OF THE TRANSIT PLAN: Orange has previously approved the <br />BRI Plan subject to the Parties' entry into and approval of this Agreement. The <br />BRI Plan details funding sources and use, governance, local rail priorities, bus <br />service expansion strategy, structure, and financial implementation. <br />Page 1 of 9 <br />