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0 Bco:y, 1 9 PacF 199 <br />STATE OF NORTH CAROLINA <br />INTERLOCAL AGREEMENT FOR <br />COUNTY OF LEE SANFORD-LEE COUNTY AIRPORT <br />~y~ <br />THIS AGREEMENT is made and entered into this day of ~~hY cui'c <br />2003, by and between Lee County, a body corporate and public, and tile City of San ord, <br />a municipal corporation. <br />WITNESSE'I'll: <br />WHEREAS, in accordance with Chapter 63 of the North Carolina General <br />Statutes which provides for the joint ownership, operation, and control of airports for <br />cities and counties, Lee County and the City of Sanford adopted resolutions in 1976 to <br />create an airport commission to operate the Sanford-Lce County Airport; and <br />WHEREAS, in 1992, the North Carolina General Assembly created the Sanford- <br />Lee County Regional Airport Authority for the purpose of relocating the Sanford-Lee <br />Comity Airport to the northern part of Lee County to serve as a reliever facility for <br />Raleigh-Durham Airport; and <br />WHEIZEAS, prior to this date, the Sanford-Lee County Airport was located <br />within the city limits of the City of Sanford; and Lee County and the City of Sanford <br />collected ad valorem taxes on the personal property located at the airport in proportion to <br />their respective tax rates; and Lee County and the City of Sanford divided the operating <br />and capital expenses of the Airport equally between the two bodies, with each paying <br />one-half (1/2) of those expenses; and <br />WHEREAS, the City of Sanford participated in the purchase of the land for the <br />new airport and the capital expenses with regard to the construction of the new airport in <br />the same fashion, paying one-half( %z) of the local portion of those expenses; and <br />WHEREAS, the City of Sanford can no longer collect ad valorem taxes on the <br />personal property located at the new airport without annexing it into the city limits; and <br />WHEREAS, Lee County and the City of Sanford recognize that there is a benefit <br />from the new airport remaining outside of the city limits at this time, but desire to <br />memorialize their agreement that expenses of the airport beyond normal operating <br />expenses be borne by Lee County and the City of Sanford equally. <br />NOW, THEI217ORE, for and in consideration of the past expenditures made by <br />the City of Sanford toward the new airport, the mutual promises contained herein, and the <br />payments to be made hereunder, the parties hereto agree as follows: <br />