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vote of the people. The election shall be held in accordance with the provisions of North <br /> Carolina General Statute §163-287; <br /> NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners for the County <br /> of Orange: <br /> Section 1. The Board of Commissioners hereby authorizes Triangle Transit to call a <br /> referendum during the normal time the polls are open, on Tuesday, November 6, 2012, at <br /> which there shall be submitted to the qualified voters of the County of Orange the question <br /> stated in Section 3 of this resolution. <br /> Section 2. The said referendum shall be held in accordance with the procedures of <br /> North Carolina General Statute §163-287. <br /> Section 3. The form of the question to appear in the ballots and in the instructions <br /> to voters for said referendum shall be substantially as follows: <br /> [ ] FOR [ ] AGAINST <br /> "One-half percent (1/2%) local sales and use tax, in addition to the current local <br /> sales and use taxes, to be used only for public transportation systems." <br /> Section 4. The Clerk to the Board of Commissioners is hereby authorized and <br /> directed to mail or deliver a certified copy of this Resolution to the Board of Trustees of <br /> Triangle Transit within three days after passage hereof. <br /> Section 5. This Resolution shall take effect upon its passage. <br /> VOTE: Ayes, 5; Nays, 2 (Commissioner McKee and Commissioner Yuhasz) <br /> c. Approval of a Settlement Resolution Authorizinq an Exchanqe of Properties <br /> Between Oranqe County and Eno River Parkinq Deck, LLC, and Approval of Budqet <br /> Amendment#9-B <br /> The Board considered approving a resolution regarding settlement with Eno River <br /> Parking Deck, LLC, authorizing the purchase for $1,000,000 and the exchange of properties <br /> valued at $580,000 pursuant to North Carolina General Statute 160A-271 to purchase the Eno <br /> River Parking Deck, and approving Budget Amendment#9-B and authorizing the Chair to sign. <br /> John Roberts said that Orange County has been involved in a tenant/lease agreement <br /> for several years and this has caused many issues. He said that these issues led to litigation <br /> between owners of the deck and Orange County. Out of that mediation, a potential settlement <br /> was reached, which would be that Orange County would purchase the Eno River Parking Deck <br /> for the price of$1 million cash, plus the two buildings at 112 and 118 North Churton Street, <br /> which have a combined assessed value of$508,000. The parking deck has a replacement <br /> value of$2.9 million. If the County Commissioners will approve that property exchange, the <br /> case gets settled and Orange County would own the Eno River Parking Deck. <br /> Regarding the lease, the County leased this for 40 years initially and there are 37 years <br /> remaining. It leased 200 spaces at $1 a space plus half of the maintenance costs. Initially, <br /> Orange County contributed $2.3 million to the construction of the deck, which was <br /> approximately a $5.2 million construction cost in an overall project which involved the Library, <br />