Orange County NC Website
Browse       Search
7 <br /> 3. Quarterly Financial Reports for Q1 and Q3 shall be delivered to all parties of the ILA no later than 45 <br /> days after the close of each of these quarters. <br /> 4. Reporting expectations and templates are to be further developed and negotiated by the SWG per <br /> indicated dates in the ILA. <br /> Delineation of Funding Sources &Supplantation Limitations <br /> 1. ILA endeavors to clearly define what funding sources this ILA governs: <br /> a. Article 43 Half-Cent (0.5 percent) Sales and Use Tax <br /> b. Article 51 Three-Dollar($3) increase to GoTriangle Regional Registration Fee <br /> c. Article 52 Seven-Dollar($7) County Vehicle Registration Fee <br /> d. Vehicle Rental Tax(to accommodate future shifts of what this funding source will support, <br /> language has been included to acknowledge that it is under the control of the GoTriangle Board <br /> of Trustees and any future allocations of such funding are at the sole discretion of the GoTriangle <br /> Board of Trustees) <br /> 2. Supplantation means the opportunity for parties to this agreement to use certain funding sources to <br /> replace existing funds or other resources for public transportation systems. <br /> a. Local Funding Source that allows supplantation: the County Vehicle Registration Tax(N.C.G.S <br /> 105-570)which is levied at its maximum amount of$7.00 per year; <br /> b. Local Funding Sources that do not allow supplantation: <br /> i. Local Government Sales and Use Taxes for Public Transportation (N.C.G.S. 105-506:514) <br /> which is levied at its maximum allowable rate of one half percent(non-supplantation <br /> cited in N.C.G.S 105-507.3.b); <br /> ii. Regional Transit Authority Registration Tax (N.C.G.S. 105-560:569) which is levied at its <br /> maximum amount of$8.00 per year with $3.00 of each $8.00 collected allocated locally <br /> to Orange County(non-supplantation cited in N.C.G.S. 105-564). <br /> SWG Adherence to Public Meetings/Records Laws <br /> DCHC MPO is designated as the administrator/convener of the SWG.The MPO and SWG members will adhere to <br /> North Carolina public meeting laws, as it is recognized as an 'administrative and advisory arm to the parties' of <br /> the ILA.This reference is found in state statute, N.C.G.S. 143-318.9:18, Article 33 of Chapter 143, "Meetings of <br /> Public Bodies." <br />