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3 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />INTERLOCAL AGREEMENT <br />THIS AGREEMENT ("Agreement" and "this Agreement") is made and entered into this <br />day of March 2007 by and between Orange County, North Carolina, a body politic and <br />corporate, a political subdivision of the State of North Carolina ("the County") and the Chapel <br />Hill Carrboro City Schools Board of Education, a county board of education organized and <br />existing pursuant to N.C. Gen. Stat. § 115C et seq. ("the School Board"). <br />WHEREAS, the Chapel Hill Carrboro City Public School System has need for a new <br />elementary school and equipment; <br />WHEREAS, it is the intent of the County to assist the School Board in obtaining this <br />building and equipment within the constraints imposed by limited financial resources; <br />WHEREAS, the County .and the School Board seek to build the School Board's <br />Elementary School #10 located in Orange County ("the Improvements"); <br />WHEREAS, the County now owns in fee simple the site of the Improvements ("the <br />Contract Property") and wishes to retain ownership of the Contract Property in order to enable <br />the .County to reclaim sales and use taxes paid by the various contractors and for other lawful <br />purposes; <br />WHEREAS, the County may agree to the transfer of the Contract Property at some time <br />in the future; <br />WHEREAS, the County desires to designate the School Board as its agent to carry out <br />the construction of the Improvements and the School Board is willing to accept the appointment <br />pursuant to the terms of this Agreement; <br />WHEREAS, the County is authorized by law to reclaim sales and use taxes paid to the <br />State of North Carolina, to acquire real and personal property for the use by the School Board, <br />and to construct, equip, expand, improve, and renovate property for use by the School Board; <br />WHEREAS, the County intends to claim the sales and use tax refunds on the <br />Improvements, and appropriate the refunds it receives to the budget for the construction of the <br />Improvements; <br />WHEREAS, the School Board and the County are authorized to enter into an interlocal <br />agreement, to enter into a lease agreement and to establish an agency agreement pursuant to N.C. <br />Gen. Stat. §§ 153A-158.1 and 160A-460 et seq.; <br />