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8 <br /> e. Buildings designed and constructed to be used as schools <br /> or day care centers. <br /> Section 3. The purpose of the tax authorized herein is to generate <br /> funds to partially offset the cost of new capital facilities or the <br /> replacement, expansion or improvement of existing capital facilities <br /> necessitated in part by new growth within the county. Accordingly, <br /> revenues generated by the tax authorized herein and retained by Orange <br /> County or distributed to Chapel Hill , Carrboro, or Hillsborough, <br /> respectively, pursuant to Section 6, shall be deposited by each local <br /> government in its capital reserve improvements fund or funds established <br /> under Article 3, Section 2, Chapter 159 of the General Statutes and may be <br /> expended only as follows: <br /> (1) Orange County may expend such funds to the extent otherwise <br /> authorized by law on capital improvements projects related to <br /> schools, libraries, stormwater drainage, open space and. <br /> recreation, and emergency and public safety facilities, including <br /> jails. <br /> (2) The towns of Chapel Hill , Carrboro, and Hillsborough may expend <br /> such funds on capital improvements related to roads and other <br /> transportation systems, stormwater drainage, open space and <br /> recreation, and police and fire stations. Such funds may be spent <br /> by each municipality only for improvements that are located within <br /> the corporate limits of each municipality or each municipality's <br /> extra-territorial planning jurisdiction or each municipality's <br /> transition area(s) as established under a joint planning agreement <br /> with Orange County, except that Chapel Hill and Carrboro may by <br /> agreement expend funds on joint projects that transcend each <br /> other's jurisdictional boundaries, such as road or drainage <br /> improvement projects. <br /> Section 4. An ordinance adopted under this Act shall provide that: <br /> (1) A person responsible for the impact of land development shall pay <br /> an excise tax for each square foot of dwelling space and <br /> commercial building enclosed floor space for which an occupancy <br /> permit is issued or, if no such permit is obtained, for each <br /> square foot of dwelling space and commercial building enclosed <br /> floor space occupied. <br /> (2) The tax shall be due on or before the date an occupancy permit is <br /> issued for the dwelling unit or commercial building enclosed floor <br /> space in question or, if no such permit is obtained, the date such <br /> dwelling unit or commercial floor space is occupied. However, no <br /> tax due shall be considered delinquent until sixty (60) days after <br /> the tax becomes due. There shall be added to delinquent taxes <br /> interest at the legal rate of interest. <br /> (3) Taxes authorized by this Act may be collected pursuant to <br /> G.S. 153A-147 or G.S. 160A-207. In addition, taxes authorized by <br />