HomeMy WebLinkAboutRES-2026-025-Approval of Agreements for School Sales Tax Recapture RES - 202 & 025 � 41171QU Attachment 1
s * h draft of March 23
Resolution approving agreements for school sales tax recoupment
Whereas, the Board has been presented with information and draft documents
related to a mechanism to facilitate the County' s recapture of a portion of the sales
tax paid from County funds related to spending on school capital projects ,
Be it resolved by the Board of Commissioners of Orange County, North
Carolina, as follows :
1 . That the Board determines to enter into the agreements for school
sales tax recoupment presented to this meeting. The agreements must be in
substantially the forms of draft master lease agreements dated March 23 , 2026, that
appear as Exhibits A and B to this resolution, which the Board hereby approves . The
Board also approves the forms of the agreements to add or remove particular school
facilities from the scope of the master agreements in Exhibits A and B .
2 . That the Board authorizes and directs the County Manager, the Chief
Financial Officer and all other County officers to take all actions necessary or
appropriate to put the agreements into effect. The County' s execution and delivery
of any related agreement will be conclusive evidence of the County' s approval of the
final form of that Agreement.
3 . That the Board authorizes and directs the County Manager and all
other County officers to take all actions necessary or appropriate to put into place
the documents to add or remove particular school facilities from the scope of the
master agreements, from time to time and as many times as may be appropriate for
the purpose, without the need for further Board approval . This approval includes
authorizing the Chair and the County Manager, or either of them, to determine which
school facilities are to be added or removed from the scope of the Master
Agreements, and when, without the need for further Board approval .
4 . That this resolution takes effect immediately.