Agenda - 12-15-2009 - 4k - Laserfiche WebLink

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s~~a,,~ ~ rm~ s ~.Q~~ State of North Carolina Department of State Treasurer JANET cowErt. State and Local Government Finance Division TREASURER and the Local Government Commission INTRODUCTION T. VANCE HOLLOMAN DEPUTY TREASURER This Official Statement, including the cover page and the appendices hereto, is intended to fur- nish information in connection with the public invitation for bids for the purchase of $9,760,000* General Obligation Refunding Bonds, Series 2009 (the "Bonds"), of the County of Orange, North Carolina (the "County"). The information furnished herein includes a brief description of the County and its economic conditions, government, debt management, tax structure, financial operations, budget, pension plans and contingent liabilities. The County has assisted the Local Government Commission of North Carolina (the "Commission") in gathering and assembling the information contained herein. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy any securities other than the Bonds offered hereby, nor shall there be any offer or solicitation of such offer or sale of the Bonds in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. Neither the delivery of this Official Statement nor the sale of any of the Bonds implies that the information herein is correct as of any date subsequent to the date hereof. The information contained herein is subject to change after the date of this Official Statement, and this Official Statement speaks only as of~its date. This Official Statement is deemed to be a final official statement with respect to the Bonds within the meaning of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the "Rule"), except, when it is in preliminary form, for the omission of certain pricing and other information to be made available by the successful bid- der or bidders for the Bonds to the Commission. In accordance with the requirements of such Rule, the County will agree in a resolution to be adopted by the Board of Commissioners of the County prior to the sale of the Bonds to certain continuing disclosure obligations. See the caption "Continu- ing Disclosure" herein. THE LOCAL GOVERNMENT COMMISSION OF NORTH CAROLINA The Commission, a division of the Department of State Treasurer, State of North Carolina (the "State"), is a State agency that supervises the issuance of the bonded indebtedness of all units of lo- cal government and assists these units in the area of fiscal management. Appendix A to this Official Statement contains additional information concerning the Commission and its functions. 20 *Preliminary, subject to change.