2012-448 Planning - Research Triangle Regional Public Transportation Authority, d /b /a Triangle Transit

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i �c ORANGE COUNTY and TRIANGLE TRANSIT INTERGOVERNMENTAL AGREEMENT FOR LEVY OF TRANSIT SALES TAX Intergovernmental Agreement ( "Agreement ") dated al -z- This is made by and between the Research Triangle Regional Public Transportation Authority, d /b /a Triangle Transit ( "TTA "), a three county regional transportation authority organized pursuant to NCGS Chapter 160A et. seq., and Orange County ( "County "), a political subdivision of the State of North Carolina. In this Agreement TTA and the County may be individually referred to as "Party" and collectively referred to as "Parties ". WITNESSETH: WHEREAS, the County and TTA, have determined that it is in the best interest of Orange County citizens for them to coordinate the planning, construction and expansion of public transit services in order to provide efficient and effectively linked transit services to the residents of, the employees and employers in, and the visitors to the Orange County area; and WHEREAS, the Parties have determined that an efficient and effective transit system is crucial, in concert with other transportation, land use, and economic development initiatives, to maintain a high quality of life, appropriately to support future development, and to provide transportation options to the current and future residents, employees and employers of the Orange County area; and WHEREAS, the Parties understand that new county -wide tax levies authorized by the North Carolina General Assembly in NCGS Chapter 105, Article 43 ( "Article 43 ") will be paid by residents and businesses in all locations within the County; and WHEREAS, these Article 43 tax levies should be invested to the highest degree possible so that the return on investment accrues to Orange County's quality of life, tax base, and retail sales proceeds, which can create long term financial sustainability for public transit; and WHEREAS, this Agreement is entered into pursuant to the authority granted by NCGS Chapter 160A, Article 20. NOW THEREFORE, in consideration of the mutual covenants and assurances contained herein, and the mutual benefits to result therefrom, the Parties agree as follows 1. That this Agreement does not indicate approval of the Orange County Bus and Rail Investment Plan ( "Orange BRI Plan ") by the Orange County Board of County Commissioners ( "Orange BOCC "). 2. That this Agreement does not require or bind the Orange BOCC to approve, set or schedule a referendum for voter approval of a transit sales tax. Page 11