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7 <br />(e) A tax levied under this act is payable by the <br />transferor of the interest. Except as otherwise <br />provided in this act, the provisions of GS 105-228.32 <br />through GS 105-228.37 apply to a tax levied under this <br />act, The County must provide metering or similar <br />equipment for the collection of the tax in lieu of the <br />use of tax stamps. <br />(f) The Board of Commissioners of Orange County may, by <br />resolution, repeal or reduce the rate of a tax levied <br />under this act, Repeal or reduction of the tax must <br />become effective on the first day of a month and may <br />not become effective until the end of the fiscal year <br />in which the repeal or reduction resolution was <br />adopted. Repeal of an excise tax on conveyances, or <br />reduction of its rate, under this act does not effect <br />a liability for a tax that attached before the <br />effective date of the repeal or reduction, nor does it <br />effect a right to a refund of a tax that accrued <br />before the effective date of the repeal or reduction. <br />(g) The proceeds of the tax levied under this act may be <br />used for any lawful purpose. <br />SECTIQN 2. This act applies to Orange County only. <br />SECTIQN 3. This act is effective when it becomes law. <br />