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S-6-O8 Draft <br />~? <br />expenditure. Such unshared expenditures shall not be considered a part of the Park <br />budget and shall not become a cost to be reimbursed. Any such activities financed by <br />one County must still be a approved as an activity by both Counties, and shall be in <br />accordance with the Master Park Plan. Note: Language not previously included. <br />This paragraph allows each county the flexibility of staging an event that may <br />not be beneficial or of interest to the other county. <br />b. Alternate County Funding. By mutual agreement, any activity(ies) may be funded by <br />the two Counties using acost-sharing ratio other than SO/50 if mutually agreed to in <br />writing in advance of the activity. Note: Language not previously included. <br />Allows each county more flexibility. <br />4. Capital Costs Capital costs of the Park shall be shared equally by both counties (Orange <br />County 50% and Durham County 50%) and paid for as provided in section III 6, herein. <br />Notwithstanding the foregoing, either County may budget and/or expend, funds for jointly <br />approved capital investment projects for the Park, for which the other County will not or <br />cannot approve funding for, so long as such expenditure or any portion thereof is in <br />accordance with the Park Master Plan, and not invoiced to the other County for <br />reimbursement or charged against the other County as an expenditure. Such unshared <br />expenditures shall not be considered a part of the Park budget and shall not become a cost to <br />be reimbursed in the event of termination. <br />5. Park Revenues. All revenues generated from operation of the Park shall be shared equally by <br />the two counties (Orange County 50% and Durham County 50%). Revenues shall be <br />collected, when due, by Orange County, netted against operating and maintenance costs of <br />the Park and designated as a set off on the invoice from Orange County to Durham County <br />provided for in Section III of this Agreement. <br />6. Review and Reconciliation. At the end of each. fiscal year, the Finance Directors of both <br />Counties shall conduct a review and reconciliation of amounts paid and payable under this <br />Agreement. Such adjustments or payments as may be necessary to effectuate the <br />reconciliation agreed upon by the Finance Directors of both Counties shall be promptly <br />made. Reconciliation shall be completed prior to October 15 of each year. <br />IV. Park Operations <br />1. Park Operation and Maintenance. During the term of this Agreement, Orange County shall <br />manage the Park according to the terms of this Interlocal Agreement, jointly approved <br />Operating Guidelines, and jointly approved Annual Objectives and shall provide operation <br />and maintenance services customarily provided for in the management of a park. Orange <br />County shall do and perform any and all things reasonably necessary for the pleasure, <br />comfort, service and convenience of those who use the Park, as well as to protect and <br />preserve the natural resources and facilities within the Park. <br />a) Maintenance of Grounds. Maintenance of the Park grounds shall be performed by <br />employees of Orange County or contractors as necessary to ensure proper and <br />