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Orange County Board of County Commissioners <br />A Resolution of Intent to Create a Local Revenue Options Education Advisory Committee <br />WHEREAS, local governments in North Carolina have historically relied heavily upon ad <br />valorem property taxes as their major source of revenue; and <br />WHEREAS, for a number of years, the Orange County Board of County Commissioners, the <br />North Carolina Association of County Commissioners and many other Boards across the state, <br />have lobbied the General Assembly for legislative authority to expand counties' revenue options <br />and lessen counties' reliance on property taxes; and <br />WHEREAS, during the 2007 legislative session, the North Carolina General Assembly granted <br />counties the authority to enact new local revenue options - either a .4% land transfer tax or an <br />additional ~/4-cent sales tax; and <br />WHEREAS, on September 19, 2007, the Orange County Board of County Commissioners <br />decided to seek voter approval of the local revenue options on the May 6, 2008 ballot, agreed to <br />a tentative timeline for seeking voter approval and decided to seek input from community <br />partners regarding which tax(es) to include on the ballot; <br />NOW, THEREFORE BE IT RESOLVED THAT the Orange County Board of County <br />Commissioners does hereby indicate its intent to create a Local Revenue Options Education <br />Advisory Committee to assist in public information efforts related to the May 6, 2008 focal <br />Revenue Options referendum, with the Board planning to appoint Committee members and a <br />chair, or co-chairs, at its November 5, 2007 regular meeting. <br />This 9th day of October 2007. <br />