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58 <br /> Article 46: Historic Overview <br /> • A supplemental "1/4 cent retail sales tax" was passed by Orange <br /> County voters in a Nov. 2011 referendum. <br /> • Orange County Board of Commissioners adopted a Resolution in <br /> Dec. 2011 to outline the core uses of the new "Article 46" funds. <br /> • The County received the initial Article 46 funds from the N .C. <br /> Department of Revenue beginning in the Spring of 2012. <br /> • Annual revenues (estimated at $2.5 million total in 2011 ) are split <br /> 50/50 between Education (Orange County Schools & Chapel <br /> Hill/Carrboro City Schools) & Economic Development, with each <br /> group to receive approx. $1 .25 million. <br /> • By 2018, the County's total Article 46 revenues were projected to be <br /> approx. $3.6 million for the new fiscal year, due to a steady 5% - 7% <br /> annual growth rate in the local economy's retail sales collections. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />