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2.03 "EQUITABLE USE OF NET PROCEEDS WITHIN OR TO BENEFIT THE SPECIAL <br />DISTRICT" as that term is used in N.C.G.S. 105- 508.1, so long as Wake-County is a member of <br />the multi - county Triangle Tax District shall mean: <br />A 100% dedication of all Wake County Tax Revenue and Wake Transit Plan Revenues as <br />defined in Sections 2.12 and 2.14 for the exclusive use and benefit of the Wake County Transit <br />Plan to the exclusion of any other transit plan within the Special District. A 100% dedication of <br />all Non -Wake County Tax Revenue derived from transit funding sources in counties other than <br />Wake for the exclusive use and benefit of those county transit plans within the Special District, <br />to the exclusion of the Wake County Transit Plan. <br />This definition contemplates that a complete segregation of all Wake County Tax <br />Revenue and Wake Transit Plan Revenues for the purpose stated herein is required to carry out <br />the Financial Plan of the Tax District pursuant to N.C.G.S. 105 -508.1 and that this definition <br />considers the (i) identified needs of local public transportation systems in the district, (ii) human <br />service transportation systems within the district, (iii) expansion of public transportation systems <br />to underserved areas of the district. The Equitable Use of Net Proceeds shall not contemplate or <br />include pledging, committing, agreeing to apply, or otherwise using any portion of Wake County <br />Tax Revenue or Wake Transit Plan Revenues for any purpose now, or in the future, other than in <br />accordance with the Wake County Transit Work Plan. Likewise, this definition contemplates <br />that Non -Wake County Tax Revenue shall not be pledged, committed, applied, or otherwise used <br />by Wake County unless approved by the other counties within the district. "Net proceeds" as <br />used herein shall mean gross proceeds less the cost of collection being al located to GoTriangle as <br />administrator of the Special District on behalf of any member county. <br />2.04 "FINANCIAL PLAN" as that term is used in N.C.G.S. 105 - 508.1(2) shall mean: <br />(1) As related to the Wake County Transit Plan: <br />(a) If now or in the future the Special District consists only of Wake County, the <br />Financial Plan requiring approval shall mean the Plan Implementation and <br />Finance section set forth in pages 32 -36 of the Wake County Transit Plan as <br />supported by the details of the Transit Plan, and modeled in the Financial <br />Model, being that same Plan approved by the Wake County Board of <br />Commissioners pursuant to a Resolution on June 6, 2016. <br />(b) If now or in the future the Special District consists of 1,Vake County and <br />one or more other counties, the Financial Plan requiring approval shall mean <br />the Implementation and Finance section set forth in pages 32 -36 of the Wake <br />County Transit Plan as supported by the details of the Transit Plan and <br />modeled in the Financial Model, being that same Plan approved by the Wake <br />County Board of Commissioners pursuant to a Resolution on June 6, 2016. <br />The Financial Plan shall only include funds that would be budgeted and <br />reported in the Wake Transit major operating and capital funds; provided that <br />financial plans for other counties in the District, if any, have previously been <br />R <br />