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behalf of Durham and Orange counties in strict compliance with the financial terms <br /> outlined in the Wake Transit Governance Interlocal Agreement, <br /> 4.02 Equitable Use of Net Proceeds within the Triangle Tax District. In accordance with <br /> N.C.G.S. 105-508.1, the Parties hereby acknowledge that the Durham and Orange Bus and Rail <br /> Financial Plans and the Wake County Financial Plan, as further described in Section 4.01, above, <br /> were modeled at different times, for separate geographical boundaries and transit systems within <br /> those boundaries, and with different assumptions. As such, the Parties hereby agree that <br /> pursuant to N.C.G.S. 105-508.1, the "equitable use" of all Wake County Tax Revenue and Wake <br /> Transit Plan Revenue collected by and through GoTriangle in administration of the Triangle Tax <br /> District shall be as defined pursuant to Section 2.03 above. The Parties further agree that a <br /> segregation of all Wake County Tax Revenue and Wake Transit Plan Revenue and all <br /> expenditures of the same as dictated by the Wake County Transit Plan as defined in Section 2.13, <br /> above, is an"equitable use" of said revenues, for the benefit of the Triangle Tax District. <br /> 4.03 Approval of the Wake County Financial Plan. By execution of this Agreement, the <br /> Parties signify their approval of the Wake County Financial Plan in accordance with N.C.G.S. <br /> 105-508.1. <br /> 4.04 Oversight, Implementation & Amendments to the Financial Plan. Nothing herein <br /> shall confer any right, duty, oversight, or authority upon Durham County, Orange County, <br /> DCHC-MPO, or BG-MPO, to amend, review or approve any revisions or modifications to the <br /> Wake County Financial Plan or any aspects related to the implementation of the Wake County <br /> Transit Plan. Likewise, nothing herein shall confer any right, duty, oversight, or authority upon <br /> Wake County or CAMPO to amend, review or approve any revisions or modifications to the <br /> Durham and Orange Bus and Rail Financial Plans. <br /> 4.05 Modeling of the Financial Plan. Consistent with the financial segregation of all Wake <br /> County Tax Revenues and Wake Transit Plan Revenues from any and all plans or projects not <br /> included in the Wake County Transit Plan, the Wake County Financial Plan shall be modeled <br /> and presented separate and apart from any other financial plan of the Tax District, including the <br /> Durham and Orange Bus and Rail Financial Plans. <br /> ARTICLE V <br /> INDEPENDENCE OF TRANSIT PLANS AND LIMITATIONS OF THE PARTIES <br /> 5.01 Independence of the Transit Plans. Durham County, Orange County, DCHC-MPO and <br /> BG-MPO, by virtue of this Agreement hereby acknowledge they do not have any authority, <br /> control, or input in the administration, implementation or governance of the Wake County <br /> Transit Plan or any financial components associated with the same. Notwithstanding the above, <br /> it is acknowledged that the GoTriangle Board of Trustees has representative membership from <br /> Durham and Orange counties. Likewise, Wake County and CAM PO, by virtue of this <br /> Agreement hereby acknowledge they do not have any authority, control, or input in the <br /> administration, implementation or governance of the Durham and Orange Bus and Rail <br /> Investment Plans or any financial components associated with the sarne. Notwithstanding the <br /> 12 <br />