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I.~ £ N 0 R A N D U ,H 0 F A G R K £ I.] £ ~',~ T In consideration of the payment to the City of Concord by Cabarrus County of 50,.q of thal portion of the o~erational budget for the fiscal year beginning Juty 1. t9/8 and ending June 30. !979 , which is made m of ]nco1 tax monies only (not inclndiug endowment grants, fines, copy sales, etc.) for the Cbarles A. Cannon Nemorial Library, the City of Concord agrees to make available, under ~ts established ~'ules and regulations, and as same may be Erom Lime to time amended, the facilities of the Charles A. Cannon I. lemorial Library to all residents of Cabarrus County, to stock the bookmobile with books, and to provide the staff to operate said bookmobile (Cabarrus County, however, ¥~ili pay all operating expenses of, and provide all maintenance for, said bookmobile). The local tax ~oney portion of said library budget shall be determined by subtracting from the total approved annual budget all other sources of revenues the library receives for the fiscal year covered by ti~is agreement. This agreement is for a term of one year, but is subject to renewal from time to time by the parties hereto. Cabarrus County shall be furnished a copy of the annual audit of the City of Concord, Cabarrus County shall be refunded 50% of the difference between the actual local (City and County) '. tax revennes appropriated and budgeted fm' the operation of the library and the actual expenditures made for library operations in each fiscal year, i~ any. This 17th day of October , 1978.