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D ir , 6 <br /> •STATE of NORTH CAROLINA <br /> AGREEMENT BETWEEN <br /> THE TOWN OF HILLSBOROUGH, N.C. <br /> AND ORANGE COUNTY, N.C. • <br /> THIS AGREEMENT, made this day of • <br /> 1989, between the TOWN OF HILLSBOROUGH, N.C. , hereinafter <br /> referred to as the TOWN and ORANGE COUNTY, N.C. , hereinafter <br /> referred to as the COUNTY. <br /> WITNES SETH <br /> The TOWN must immediately begin the development of a water <br /> supply source in addition to the currently used direct with- <br /> drawal of water from the Eno River. <br /> The TOWN has selected the Seven Mile Reservoir as a first <br /> choice of water supply alternatives. <br /> The COUNTY has selected the Seven Mile Reservoir as a first <br /> choice of water supply alternatives. <br /> The COUNTY has passed a referendum authorizing the sale of <br /> bonds in the amount of one million dollars ($1,000,000.00) <br /> and designated for the development of a reservoir. <br /> The COUNTY now owns one hundred and sixty acres of land in <br /> the Seven Mile Reservoir basin. <br /> The TOWN and COUNTY have prepared sepaiate schedules for the <br /> construction of the Seven Mile Reservoir for the purpose of <br /> an additional water supply. <br /> NOW, THEREFORE, the Town and COUNTY, for an in consideration <br /> of matters hereinafter set forth, do hereby agree as follows: <br /> The TOWN, after signing this agreement, will immediately <br /> schedule a referendum requesting authorization to sell <br /> bonds for funding of an alternative water supply in <br /> accordance with the referenced schedule. <br /> The TOWN, after the passing of said referendum, will <br /> proceed with the design, securing of all required approvals <br />