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4 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />DRAFT <br />INTERLOCAL AGREEMENT <br />THIS INTERLOCAL AGREEMENT, made and entered into this <br />day of 2003 and effective as of the day of <br />2003, by and between the CHAPEL HILL-CARRBORO CITY <br />BOARD OF EDUCATION, a body politic of the State of North <br />Carolina, hereinafter called the "BOARD OF EDUCATION," and <br />ORANGE COUNTY, a body politic and corporate of the State of <br />North Carolina, hereinafter called the "BOARD OF COMMISSIONERS," <br />to memorialize an agreement. between the parties regarding <br />~. approval by the BOARD OF~COMMISSIONERS of the amount to be spent <br />by the BOARD OF EDUCATION for the site of the third high school <br />in the Chapel Hill-Carrboro City School District, hereinafter <br />called high school #3, and regarding amounts to be appropriated <br />by the BOARD OF COMMISSIONERS to the capital outlay fund of the <br />BOARD OF EDUCATION for high school #3; <br />W I T N E S S E T H• <br />WHEREAS, the BOARD OF EDUCATION exercises the statutory <br />authority to administer the Chapel Hill-Carrboz-o City School <br />System, and the BOARD OF COMMISSIONERS exercises the statutory <br />duty to provide certain school funding to the BOARD OF <br />EDUCATION; and <br />i <br />