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• Section 8. As soon as reasonably practicable after the <br /> close of each quarter of the fiscal year, the District shall dis- <br /> tribute to Chapel Hill and Carrboro the net proceeds of the tax <br /> received by the District based upon development that has taken <br /> place within each respective municipality's corporate limits, <br /> extra-territorial planning jurisdiction and transition area(s) , <br /> as established in joint planning agreements. The remainder of <br /> the net proceeds, plus the cost incurred by Orange County in col- <br /> lecting and administering the tax, shall be remitted to Orange <br /> County. As used in this Part, the term "net proceeds" means the <br /> gross proceeds of the tax less the cost to the county of collec- <br /> tion and administering the tax. <br /> Section 9. The boundaries of the District may be expanded <br /> to include portions of Orange County within the corporate limits <br /> of the Town of Hillsborough, the Town of Mebane, or the City of <br /> Durham in accordance with the provisions of this section. <br /> (a) Upon a favorable vote of the majority of the membership <br /> of the governing body of the municipalities listed in <br /> this section, the entire area of that municipality that <br /> is located within Orange County shall be annexed (the <br /> "annexed area" ) to the District on the first day of the <br /> next quarterly period that follows the month in which <br /> the vote took place. <br /> (b) Consistent with Section 5 of this Part, if any of the <br /> municipalities referenced in this section vote to be in <br /> the District, the net proceeds generated by the tax <br /> authorized by this Part and distributed to any such <br /> municipality shall be deposited in a capital reserve <br /> 8 <br />