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CS) <br /> PPAB DRAFT <br /> U/09/93 <br /> THIS INSTRUMENT HAS BEEN POE-AUDITED <br /> IN THE MANNER REQUIRED BY <br /> THE LOCAL GOVERNMENT BUDGET'AND <br /> FISCAL CONTROL ACT, <br /> Finance Officer <br /> NORTH CAROLINA CoMMUNrry ACTIVITY CENTER <br /> ORANGE COUNTY FACILITIES/SERVICES AGREEMENT <br /> THIS AGREEMENT(the "Agreement") made and entered into this day of December, 1993, <br /> by and between ORANGE COUNTY COMMUNITY ACTIVITY CORPORATION (the "Corporation"), a <br /> nonprofit corporation duly incorporated under the laws of the State of North Carolina, and the COUNTY <br /> OF ORANGE, NORTH CAROLINA (the "County"), a body politic and corporate existing under North <br /> Carolina law: <br /> WITNESSETU: <br /> WHEREAS, the Board of Commissioners of the County of Orange, North Carolina(the "Board") <br /> has determined that there is a need for a public swimming pool accessible to all residents of the County; <br /> and <br /> WHEREAS, the Board has evaluated several options for providing a public swimming pool <br /> accessible to all residents of the County; and <br /> WHEREAS, the Board has appropriated an initial amount of funding for the construction of a <br /> public swimming pool facility in the County's 1993-98 Capital Improvements Plan; and <br /> WHEREAS, the Corporation is a nonprofit organization authorized to own, operate and manage <br /> recreational activities in the County; and <br /> WHEREAS, the Corporation has proposed the construction of a Community Activity Center <br /> ("CAC"), which would include an olympic-sized swimming pool (the "CAC Pool") and other facilities, <br /> including an ice rink; and <br /> WHEREAS, the Corporation proposes to finance construction of the CAC through a "63-20" <br /> financing(the "Corporation Financing")in which the Corporation would issue its own corporate debt and <br /> the County would not be liable for any payment of that debt; and <br /> WHEREAS, due to economies of scale and other factors, the Corporation would be able to provide <br /> and maintain the CAC Pool on a more efficient basis than the County could if the County were to build <br /> and operate its own pool; and <br /> WHEREAS, the County is authorized to make public expenditures for parks and recreation; and <br />