Agenda 05-20-25; 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various Capital Investment Plan Projects

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103 The County is home to two institutions of higher learning. The University of North Carolina at Chapel Hill is the flagship university in the State's 17 institution system and is consistently ranked one of the top public universities in the country. Enrollment at The University of North Carolina at Chapel Hill rose from 8,791 in 1960 to 32,234 for the 2024-25 academic year. The University is planning a new living and learning community in Chapel Hill, called Carolina North, which will occupy over 250 acres of land in the County. Durham Technical Community College is a public two-year accredited institution of higher education and technical training school primarily located in Durham, North Carolina that has a 20-acre Orange County campus located outside the Town of Hillsborough. Durham Tech serves more than 18,000 students and offers programs leading to over 90 degrees and certificates. The County contributed$975,346 toward operating expenses of Durham Technical Community College in the fiscal year ended June 30,2024 and has budgeted$1,020,363 toward such operating expenses for the fiscal year ending June 30,2025. Additionally, the County is located within a one-hour drive of several other colleges and universities. These include Alamance Community College, Duke University, Elon University,High Point University,North Carolina Agricultural and Technical State University,North Carolina Central University, North Carolina State University and the University of North Carolina at Greensboro. Transportation. Major expansion and maintenance of primary and secondary highways within the County are primarily the responsibility of the State.Municipalities within the County bear the responsibility for local street systems. The County has no responsibility for the construction or maintenance of streets or highways. The County is served by two interstate highways, which merge in the center of the County. Interstate Highway 85 connects the County to the cities of Greensboro, Charlotte and Atlanta to the south and west, and the cities of Durham, Richmond and Washington, D.C. to the north and east. Interstate Highway 40 connects the County to the cities of Winston-Salem, Greensboro and Asheville to the north and west, and the Research Triangle Park and the City of Raleigh to the south and east. Other major highways include U.S. highways 15-501 and 70 and N.C. highways 54, 57 and 86. The Town of Chapel Hill operates a local bus system that provides public transportation services to the Town and adjacent areas, including services to the Town of Carrboro and the University of North Carolina at Chapel Hill on a contractual basis. Effective January 1, 2002, the Town instituted the State's first fare free transportation system for passengers on all regular routes and services. Bus routes and stops are located so that 90% of all households are within one-quarter mile of a bus stop. The Town has established several park-ride lots on the perimeter of the Town to facilitate transportation in and out of the University and downtown area. The system operates 99 buses during weekday peak periods, and shared- ride, demand responsive programs to provide evening services. The bus system is the second largest transit system in the State by ridership,providing over seven million rides per year prior to COVID-19. The bus system is financed primarily with a special ad valorem tax levy,federal and State operating and capital assistance,and contractual contributions from the Town of Carrboro and the University. The Town receives federal operating assistance from the Federal Transit Administration and State operating assistance which combined equals about 30%of eligible operating costs for the system. Orange County Transportation Services offers a continuum of locally accessible transportation services, including pick-up and drop-off services for the elderly and disabled. The Hillsborough circulator connects major destinations throughout Hillsborough with hourly service Monday through Friday. This service is free to all passengers. In addition,Triangle Transit Authority operates a bus system that provides 32