Agenda Package 3-15-13 Budget Kickoff Work Session

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6. If at any time during the term of this agreement, the School Board does not expend $500,000.00 (FIVE HUNDRED THOUSAND DOLLARS) provided by the Board of Commissioners and the $400,000.00 (FOUR HUNDRED THOUSAND DOLLAR) match for the purposes set out herein each fiscal year, the School Board will refund to the County an amount equal to the difference between the actual expenditures and $900,000.00 (NINE HUNDRED THOUSAND DOLLARS), but not to exceed $500,000.00 (FIVE HUNDRED THOUSAND DOLLARS. 7. The parties agree that notwithstanding the provisions of North Carolina General Statute § 115C -424, the use and potential refund of the special restricted appropriation is to be controlled and governed exclusively by this agreement which only may be enforced as a contract between the parties through a civil action filed in the General Courts of Justice of Lee County. 8. The parties also agree that allocation of this special restricted appropriation to the School Board is contingent upon the availability of sufficient County funds and that it is further conditioned upon the allocation being and remaining consistent with the fiscal policies of the Board of County Commissioners. B. FOR THE FISCAL YEAR ENDING JUNE 30, 2013. If this interlocal agreement remains in full force and effect on July 1, 2012, Fiscal Year 2012- 2013 will be the final year of this agreement. The County shall include in its Fiscal Year 2012- 2013 budget ordinance a special restricted appropriation to the School Board in the amount of $500,000.00 (FIVE HUNDRED THOUSAND DOLLARS). The appropriation will be allocated upon the following terms and conditions: 1. The conditions listed above in Items 1 -8 will continue to control the allocation of the special appropriation for Fiscal Year 2012 -2013. IN TESTIMONY WHEREOF the County has caused this instrument to be signed in its corporate name by the Vice Chairman of its Board of Commissioners and attested by the Clerk to the Board and sealed with its County Seat, all by authority of its Board of Commissioners first duly given and the School Board has caused this instrument to be signed in its corporate name by the Chairman of its Board of Education and attested by the Secretary to the Board and sealed with its corporate seal, all by authority of its Board of Education first duly given and effective as of the day and year first written above.