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Ame,.�- ,a <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 1 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 witti - Durham <br />County, Durham County and Research Triangle , <br />Interlocal Agreement for Cost Sharing for LRT Rail` F <br />outlining the provision of costs related to the plann;: <br />maintenance of a 17.3 mile passenger rail service run! <br />having 17 stations, four of which are located in Orange <br />unty entered into the Orange <br />gional Public Transportation <br />ect ( "Cost Share Agreement ") <br />construction, operation, and <br />g from Durham to Orange and <br />wri y (the "LRT Project "); and <br />Whereas, the Par#isacknowledge that the LRT'Project will be managed, <br />planned, constructed," maintained and operated by the TTA according to Orange <br />County's Bus and Rail. Invesli" 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. <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 />2. TRANSIT SPECIFIC FUNDING SOURCES: The parties agree that additional <br />funds for transit are needed locally and that new local tax sources of revenue, <br />as allowed by the North Carolina General Assembly, should be pursued. The <br />taxes or fees that should be considered are: <br />a. An additional Y cent sales tax for all non - exempted goods sold within <br />Orange County. This source shall require the approval of over 50% of the <br />voters in a referendum to be enacted. <br />Page 1 of 10 <br />