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2 <br /> TRIANGLE TRANSIT AUTHORITY <br /> August 22 , 1991 <br /> The Honorable Moses Carey <br /> Chairman <br /> Orange County Board of Commissioners <br /> Post Office Box 8181 <br /> Hillsborough, North Carolina 27278 <br /> Dear Mr . Carey: <br /> Following a public hearing on August 15 , the Triangle Transit <br /> Authority Board of Trustees decided to recommend a $ 5 tax rate for <br /> the vehicle registration tax. As required ty the legislation <br /> passed earlier this year by the General Assembly, the regional <br /> transit authority cannot levy a tax until that tax has been <br /> approved by the Special Tax Board and by each of the Boards of <br /> County Commissioners . <br /> Enclosed for your review are the proposed joint resolution by the <br /> County Commissioners adopting the tax; a copy of the tax <br /> legislation; a schedule of implementation of the tax; the General <br /> Manager' s tax rate recommendation; and the minutes of the August <br /> 15 public hearing. The Board of Trustees requests your <br /> consideration of the joint resolution during September . <br /> At the August 15 meeting, the board of Trustees also approved an <br /> amended FY 1991-1992 budget . The budget plan ( copy enclosed) <br /> requires a total of $ 416 , 700 in public funds . These funds will <br /> come from $ 171 , 750 in carry over NCDOT grant funds not used in FY <br /> 1990-1991 ; $ 144 , 950 in additional NCDOT funds ; and $ 100 , 000 in <br /> funds from local governments. This request is necessary because of <br /> the legislative restrictions as well as the timing of receipt of <br /> vehicle registration tax funds . <br /> The Authority proposed that the $ 100 , 000 in local funds be <br /> requested from each of the three counties in proportion to 1990 <br /> population estimates . The Orange County share is $13 , 500 . The <br /> Board of Trustees envisioned that the County and the Town of Chapel <br /> Hill would share the contribution by mutual agreement . The Board <br /> of Trustees requests a decision by November I . <br /> Suite 206,50 Park Offices <br /> P.O.Box 13787,Research Triangle Park,NC 27709 (919)549-9999 <br />