Agenda - 12-02-2024; 6-a - Orange County Global Agreement for Capital

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55 role to the Orange County Board of Commissioners, DCHC MPO Executive Board, and GoTriangle Board of Trustees. 2.036 "Supplantation"shall mean the opportunity for parties to this agreement to use certain funding sources to replace existing funds or other resources for public transportation systems. a. Local Funding Source that allows supplantation: the County Vehicle Registration Tax (N.C.G.S 105-570)which is levied at its maximum amount of$7.00 per year; b. Local Funding Sources that do not allow supplantation: i. Local Government Sales and Use Taxes for Public Transportation (N.C.G.S. 105- 506:514)which is levied at its maximum allowable rate of one-half percent (non-supplantation cited in N.C.G.5105-507.3.b); ii. Regional Transit Authority Registration Tax(N.C.G.S. 105-560:569)which is levied at its maximum amount of$8.00 per year with $3.00 of each$8.00 collected allocated locally to Grange County (non-supplantation cited in N.C.G.S. 105-564). 2.037 "Tax District"shall mean any tax district administered by GoTriangle pursuant to authorizing resolutions and N.C.G.S. 105-508 et seq. or N.C.G.S 105-561 etseq.to which Orange County is a member, now or in the future. 2.038 "Transit Plan,"or"Multi-Year Vision Plan,"shall mean the comprehensive multi-year vision plan for transit operating and capital needs over a period of time of at least 4 years,through coordination with the DCHC-MPD Metropolitan Transportation Plan adoption process and shall also be prepared by the SWG for approval by appropriate governing boards,which shall include all the separate components of: a. Multi-year Capital Improvement Plan b. Annual Operating Program,or Multi-Year Service Implementation Plan,which shall include assumptions for administrative staff needs to support plan implementation efforts across the period of time defined by the Transit Plan c. Financial Plan (as defined in section 2.016) d. Update of the Financial Model Assumptions(if applicable) 2.039 "Triangle Tax District"shall mean the tax district,also referred to as the Special District created by GoTriangle on or about May 25, 2016, pursuant to authorizing resolutions and N.C.G.S. 105- 508 et seq. 2.040 "Comprehensive Participation Agreement" shall mean an agreement that formally invites parties to participate in plan implementation elements that are not explicitly parties to this Transit Governance Interlocal Agreement. Nothing herein shall prevent Orange County from entering a mutually negotiated Cost Sharing Agreement with other jurisdictions for any regional transit projects or systems so long as they are detailed in the Multi-Year Vision Plan.