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11 <br /> North Carolina Secretary of State on or about May 26,2016, wherein the Western Triangle Tax <br /> District was renamed the"TRIANGLE TAX DISTRICT";and <br /> WHEREAS, the Triangle Tax District remains a multi-county tax district, which now <br /> comprises the entire geographical boundaries of Durham,Orange,and Wake counties; and <br /> WHEREAS, Durham and Orange counties, in their capacity as members ofthe multi-county <br /> Triangle Tax District, and DCHC-MPO, BG-MPO and CAMPO, the Metropolitan Planning <br /> Organizations whose jurisdiction encompasses the Triangle Tax District, are statutorily charged <br /> pursuant to N.C.G.S. 105-508.1 to approve a financial plan that provides for the equitable use of <br /> the net proceeds within or to the benefit of the special tax district prior to the levy of any tax <br /> within the district;and <br /> WHEREAS,Durham and Orange counties, DCHC-MPO and BG-MPO adopted a financial <br /> plan ("Western Triangle Financial Plan") in 2012 for the Western Triangle Tax District and <br /> levied a tax for the same in accordance with N.C.G.S. 105-509 el seq. for public transportation <br /> systems in Durham County and Orange County as further detailed in the Durham-Orange Transit <br /> Plan; <br /> WHEREAS,it is the intent of the Parties for the Durham-Orange Transit Plan and Western <br /> Triangle Financial Plan already approved and in implementation to continue carrying out the <br /> transit vision planned for these counties; <br /> WHEREAS,as a precondition to the levy of any tax in Wake County pursuant to N.C.G.S. <br /> 105-508.1 et seq., Durham and Orange counties,DCHC-MPO, BG-MPO, and CAMPO must <br /> approve the financial plan for the implementation of the Wake County Transit Plan within the <br /> multi-county Triangle Tax District;and <br /> WHEREAS, Wake County has likewise conditioned its membership in the multi-county <br /> Triangle Tax District on the Parties to this Agreement approving its financial plan ("Wake <br /> County Financial Plan")pursuant to N.C.G.S. 105-508.1;and <br /> WHEREAS, the Parties agree that the mutual assurances provided herein are given as <br /> consideration for Wake County's agreement to join the multi-county Triangle Tax District for <br /> the purpose of holding an advisory referendum on the levy of a Y. percent sales tax for transit; <br /> and <br /> WHEREAS,prior to calling for an advisory referendum before the voters of Wake County <br /> for the purpose of authorizing the levy of a one-half percent (Y. %) sales tax for transit, the <br /> Parties desire to define and approve pursuant to this Agreement "the Financial Plan" that will <br /> govern the use of all revenue,including any Wake County Tax Revenue or Wake Transit <br /> Revenue, and further designate the parameters, respective roles,and limitations of the Parties <br /> with respect to the addition, governance and implementation of the Wake County Transit Plan; <br /> and <br /> 4 <br />