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INTERLOCAL AGREEMENT BY AND BETWEEN ORANGE COUNTY <br /> AND THE TOWN OF HILLSBOROUGH REGARDING ADMINISTRATION OF THE <br /> TOWN'S SPECIAL ASSESSMENT DISTRICT AT WATERSTONE <br /> THIS AGREEMENT, made and entered into this/" day of /;/-1V <br /> 2013 between the Town of Hillsborough, North Carolina, a North Carolind municipal <br /> corporation, of Orange County, North Carolina (hereinafter referred to as the "Town"); <br /> and Orange County, a body politic and political subdivision of the State of North <br /> Carolina (hereinafter referred to as the "County"), for the administration of the Town's <br /> Special Assessment District at Waterstone (hereinafter referred to as the "District"). <br /> WITNESSETH <br /> WHEREAS, the County and Town are public bodies, politic and corporate, under <br /> the laws of the State of North Carolina and are vested with the power and authority to <br /> create and administer special assessment districts pursuant to Article 10A of North <br /> Carolina General Statute Chapter 160A and are authorized by Article 20 of North <br /> Carolina General Statute Chapter 160A to enter into this Interlocal Agreement <br /> (hereinafter referred to as the "Agreement"); and <br /> WHEREAS, the Town desires that the County administer collection of <br /> assessments in the District; and <br /> WHEREAS, the County has broad tax collection and administration authority and <br /> staff in place to carry out that authority and is willing, subject to certain conditions, to <br /> provide administration and collection of assessments in the District. <br /> NOW, THEREFORE, in consideration of the foregoing and on mutual promises <br /> and obligations set forth herein, the receipt and sufficiency of which is hereby <br /> acknowledged, the parties agree as follows: <br /> 1. TERM <br /> a. This Agreement shall commence July 1, 2013 and shall continue each <br /> fiscal year thereafter through June 30, 2024. <br /> b. This Agreement may be renewed beyond June 30, 2024 upon written <br /> agreement of the Parties. <br /> 2. COSTS <br /> a. Other than direct collection costs County shall not incur and shall not be <br /> responsible for any costs, including but not limited to software, hardware, <br />