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5 <br /> MEMORANDUM OF AGREEMENT <br /> BETWEEN THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENTS <br /> ON PROCEEDS RELATING TO THE SETTLEMENT OF OPIOID LITIGATION <br /> Contents <br /> BackgroundStatement.....................................................................................................................3 <br /> Statementof Agreement ..................................................................................................................4 <br /> A. Definitions............................................................................................................................4 <br /> B. Allocation of Settlement Proceeds <br /> 1. Method of distribution.............................................................................................5 <br /> 2. Overall allocation of funds.......................................................................................5 <br /> 3. Allocation of funds between Local Governments ...................................................5 <br /> 4. Municipal allocations <br /> a. Local Governments receiving payments......................................................6 <br /> b. Municipality may direct payments to county...............................................6 <br /> 5. Use of funds for opioid remediation activities.........................................................6 <br /> 6. Relationship of this MOA to other agreements and resolutions..............................6 <br /> C. Payment of Litigating and Non-Litigating Parties...............................................................6 <br /> D. Special Revenue Fund <br /> 1. Creation of special revenue fund.............................................................................6 <br /> 2. Procedures for special revenue fund........................................................................6 <br /> 3. Interest earned on special revenue fund...................................................................7 <br /> E. Opioid Remediation Activities <br /> 1. Limitation on use of funds.......................................................................................7 <br /> 2. Opportunity to cure inconsistent expenditures ........................................................7 <br /> 3. Consequences of failure to cure inconsistent expenditures .....................................7 <br /> 4. Annual meeting of counties and municipalities within each county .......................7 <br /> 5. Use of settlement funds under Option A and Option B <br /> a. Option A.......................................................................................................8 <br /> b. Option B.......................................................................................................8 <br /> 6. Process for drawing from special revenue funds <br /> a. Budget item or resolution required..............................................................9 <br /> b. Budget item or resolution details.................................................................9 <br /> 7. Coordination group..................................................................................................9 <br /> F. Auditing, Compliance, Reporting, and Accountability <br /> 1. Audits under Local Government Budget and Fiscal Control Act............................9 <br /> 2. Audits under other acts and requirements................................................................9 <br /> 3. Audit costs ...............................................................................................................9 <br /> 1 <br />