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8 <br /> ARTICLE 2 <br /> DEFINITIONS <br /> 2.01"CAPITAL FUNDING AGREEMENT:" An agreement between agencies to provide a <br /> specified amount of funding for an Implementation Element. Any such agreement will include <br /> details of the capital improvements to be provided and detail expectations on Orange County <br /> Transit Annual Work Program resource funding, responsibilities, schedule, reporting and <br /> performance and shall adhere to any and all standards outlined in specific project worksheets <br /> through the Orange County Transit Annual Work Program. <br /> 2.02 "CAPITAL PROJECTS ORDINANCE:" The annual financial ordinance for the <br /> Orange Transit major capital fund pursuant to N.C.G.S. Chapter 159,tied to the multi-year <br /> Capital Improvement Plan, the Annual Capital Budget, and planned capital project funding <br /> agreements that implement needed capital projects. <br /> 2.03 "COMPONENT UNIT or SEPARATE COMPONENT UNIT:" A unit of local <br /> government within the Tax District that has administrative responsibility for the budget <br /> adoption, operation or, management of specified transit services and associated supporting <br /> implementation elements. The component unit is required to report Orange County Transit <br /> Plan Revenues, including Dedicated Local Transit Funding Sources, expenditures and fund <br /> balance in columns separate from the component's financial data in its annual audited <br /> statements. <br /> 2.04 "GOVERNANCE INTERLOCAL AGREEMENT" or "GOVERNANCE ILA:" The <br /> Transit Governance Interlocal Agreement dated March 8, 2023 between Research Triangle <br /> Regional Public Transportation Authority ("GoTriangle"), Durham-Chapel Hill-Carrboro <br /> Metropolitan Planning Organization("DCHC MPO"), and Orange County for implementing <br /> public transit services and projects in the fiscally constrained Orange County Transit Multi- <br /> Year Vision Plan. This Governance ILA is included as Exhibit A to this Agreement. <br /> 2.05 "IMPLEMENTATION ELEMENT:" A discrete project, operation, or study or a discrete <br /> logical grouping of projects, operations, or studies tracked separately by the Orange County <br /> Transit Annual Work Program. <br /> 2.06 "IMPLEMENTATION PARTNERS:" The listed signatories to this agreement who are <br /> non-voting members of the Orange County SWG. These implementation partners have roles <br /> supporting implementing elements of the Orange County Transit Annual Work Program. <br /> These partners fulfill their roles and responsibilities as outlined in specific project agreements <br /> to deliver approved implementation elements in the Orange County Transit Annual Work <br /> Program along with the Dedicated Local Transit Funding Sources approved in these project <br /> specific agreements. <br /> 2.07 "MAJOR FUND:" A fund as defined by the Governmental Accounting Standards Board <br /> ("GASB"), is reported in a separate column in the basic fund financial statements and is <br /> subject to a separate audit opinion in the independent auditor's report. The Tax District shall <br /> 4 <br />