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a� <br /> Little River Park Interlocal Agreement Draft July 29, 2002 <br /> tract shall be negotiated and approved by both Boards. If,however,the additional tract <br /> will have no financial impact on costs associated with Park operations and maintenance, <br /> then the purchase of the proposed tract does not require participation from the other <br /> County. <br /> 5 Regulations. Orange County and Durham County, through their Boards, <br /> with input from their respective citizen advisory committee, shall approve <br /> all policies, fees,and operational guidelines to be implemented by Orange <br /> County in the operation and management of the Park,unless specifically <br /> otherwise provided for in this Agreement. <br /> 6. Budget. . The Orange and Durham County Managers, or their designee, <br /> shall meet to consider and make recommendations regarding an annual <br /> budget for the development and operation of the Park. The budget shall <br /> Est capital improvements to be made to the Park within the next fiscal <br /> year. The recommendations of the Managers shall be submitted to their <br /> respective Boards. The Boards shall each consider such budget <br /> recommendations and take such action as deemed appropriate. If the <br /> Boards do not agree on the annual budget as submitted by the Managers, <br /> the Managers shall meet again to reconsider and submit a modified budget <br /> proposal to the Boards. The failure of the respective Boards to agree upon <br /> an annual budget after a second attempt shall be grounds for terminating <br /> this Agreement pursuant to Section 17,below. <br /> 7. Park Funding. All operating and maintenance costs of the Park shall be <br /> shared equally by both counties on a 50:50 basis (Orange County 50% and <br /> Durham County 50%). Orange County,through their Recreation and Parks <br /> Department, shall be responsible for operating and maintaining the Park <br /> and shall invoice Durham County twice annually for 50%, for the actual <br /> costs, including building and grounds maintenance,personnel costs,both <br /> direct and indirect costs,required insurance and any other costs incurred to <br /> properly operate and maintain a public facility. In no event shall the <br /> amount invoiced exceed the budgeted amount for the Park in the then <br /> current fiscal year.Durham County will provide Orange County detailed <br /> accounting of both direct and indirect costs incurred for staff, <br /> administrative and capital costs incurred by Durham County and shall be <br /> credited that amount by Orange County towards its twice-annual payment. <br /> 8. Contracts. Orange County shall contract with engineers, consultants, <br /> contractors and other parties as necessary to complete park development in <br /> accordance with the approved Park Master Plan. In all cases, Orange <br /> County will comply with both counties' shared goals of enabling minority- <br /> owned firms to participate as contractors and sub-contractors in county <br /> projects. Orange County shall also comply with bidding procedures set <br /> forth by general statute and shall not exceed budgeted amounts by either <br /> County. <br /> Page 3 of 8 <br />