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49 <br /> WHEREAS, the FY25 Orange Transit Work Program was developed and <br /> recommended by the SWG, presented for public comment, and adopted, as required, by the <br /> Boards of Orange County and GoTriangle; and <br /> WHEREAS, the FY 2025 Triangle Tax District Orange Operating Ordinance was adopted <br /> by the GoTriangle Board of Trustees; and <br /> WHEREAS, the Parties desire to implement the components of the FY 2025 Orange <br /> County Transit Work Program as adopted by GoTriangle and Orange County; and <br /> WHEREAS, as stated in the Comprehensive Participation Agreement, all <br /> Implementation Elements ("Projects") contained in the Orange County Transit Annual Work <br /> Program, whether partially or fully funded with Orange County Transit Tax Revenues, will <br /> not move forward until Implementation Agreements, which shall include a Global/Capital <br /> Funding Agreement or an Global/Operating Agreement, are executed by and between the <br /> Implementing Party; GoTriangle, as administrator of the Special District, and all other <br /> appropriate Parties as identified in Exhibit A. <br /> WHEREAS, Orange County, shall be a party to any Operating Agreement if any <br /> Project involves federal or state funding that is otherwise under the distribution and program <br /> management responsibility of County or, regardless of funding source, constitutes a <br /> regionally significant project as defined in 23 CFR § 450.104; and <br /> WHEREAS, the Parties are authorized to enter into this Agreement pursuant to, inter <br /> alia, N.C.G.S. §§ 160A-20.1; 160A-312; 160A-313; 160A-610; 153A-275; 153A-276; and <br /> 153A-449. <br /> NOW, THEREFORE, in consideration of the above recitals and the mutual covenants <br /> herein contained, the Parties hereto agree as follows: <br /> 1. Annual Approval: <br /> The Agreement shall be reviewed annually to determine project progress and appropriate <br /> updates to Exhibit A documents, which is then executed by all appropriate Parties. The review <br /> and approval should consist of: <br /> A. Addition of new Projects to the Exhibit A if one or more is identified to be included as a <br /> part of this Agreement. <br /> B. Removal of Projects from the Exhibit A if one is identified to be complete or to be <br /> discontinued during the Agreement review process. <br /> C. Update of active Projects in Exhibit A if one or more is identified to require changes to <br /> the scope and/or annual funding amount. <br /> D. Updated Agreement shall be reviewed and executed by all Parties. <br /> 2. Term: <br /> The Term, or period of performance, is defined as the latest anticipated year for <br /> programmed funds allocated by the Orange County Transit Annual Work Program for all <br /> 2 <br /> Global Agreement for Transit Operations <br /> Orange County, FY2025 <br /> Contract#YY-XXX <br />