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15 <br /> Current Joint ILA for Municipal Tax Collection Charges <br /> • Original Interlocal Agreement made in 1978 in accordance with North Carolina General <br /> Statute 160A-461 to collect taxes for Carrboro, Chapel Hill, and Hillsborough. <br /> • Updated in 2006 — single agreement that included all three towns. <br /> • Municipal tax collection rate set at 0.5% of the annual amount collected for each of the towns <br /> with an expiration of agreement set not to exceed 99 years from July 1 , 2006. <br /> • Agreement requires unanimous approval from all three towns and County to make <br /> amendments and requires a one-year notice for termination. <br /> ORANGE COUNTY <br /> 2 NC)RTH CARC7LINA <br />