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b. A new $7.00 vehicle registration fee on all vehicles registered within <br />Orange County, as decided by the Orange County Board of County <br />Commissioners ( "BOCC "). <br />c. A $3.00 increase in the existing vehicle registration fee on all vehicles <br />registered within Orange County. This fee would only go into effect if the <br />TTA Board of Trustees approves the increase. <br />This Agreement incorporates the BRI Plan in full by reference (Attachment 1). <br />The BRI Plan sets forth the sources of revenue, expected amounts of revenue <br />received over the term of the BRI Plan, the allocation of revenue for bus and rail <br />projects and services, and the lead provider of each ";service. <br />3. GOVERNANCE: Future decision - making authority regarding the BRI Plan shall <br />lie with the BOCC. The parties agree tv ,abide by the final decisions of the <br />BOCC subject to the terms of this Section. <br />a. The parties agree that the BOCC will receive annual reports by August 1 <br />regarding the status of the plan and may evaluate the;effectiveness of this <br />Agreement and efficiency and effectiveness of the BRI Plan. The BOCC <br />evaluation will be based on municipal input, public input, financial health of <br />the BRI Plan, including revenues, expenditures and timing, and the status <br />of transit project implementation. If issues are identified, the Parties to this <br />Agreement grant the BOCC the power to request special reporting from <br />the service district, the Orange County Transit Plan Partnership, or any <br />transit provider. Once special reporting is.requested the BOCC may, with <br />a supermajority vote, prohibit_the -;use of Grange County generated local <br />funds until such time as the identified issue(s) is satisfactorily addressed. <br />Any'..':,. route that is funded with aforesaid revenues between cities or <br />betweem counties (excepting that portion of Chapel Hill in Durham County <br />and between Chapel Hill and Carrboro) is a decision of the BOCC since <br />the effect of that route has regional significance and the impact on inter - <br />county or intra= county agreements. <br />C. Higher revenues than those projected in the financial model shall be held <br />by TTA in reseiiie in a separate account for a period of at a minimum two <br />years. The ":�BdCC may by majority vote, authorize the allocation of <br />additional monies for buses, small capital, or continue to hold the funds in <br />reserve for future larger capital programs such as Small Starts or Very <br />Small Starts applications. <br />d. An advisory board will be created to be known as the Orange County <br />Transit Plan Partnership. The five member board will consist of one <br />member from each of the entities (Chapel Hill Transit, Hillsborough, and <br />Mebane) and two members from the BOCC. Advisory Board members <br />shall be appointed by the BOCC and the board and its members shall be <br />subject to the terms of the Orange County Board of County <br />Page 2 of 10 <br />