Orange County NC Website
Browse       Search
challenging or questioning in any way the status of the interest portion of the Installment <br />Payments as being excludable from gross income for federal income tax purposes, nor has <br />Purchaser been notified of any listing or proposed listing of it by the Internal Revenue Service as <br />an issuer that may not enter into the type of transaction as contemplated by the Purchase <br />Agreement. <br />On the basis of the foregoing facts, estimates and circumstances in existence on the date <br />hereof it is not expected that the proceeds of the Purchase Agreement will be used in a manner <br />that would cause the Purchase Agreement to be "arbitrage bonds" under Section 148 of the Code <br />and the Regulations. To the best of our knowledge and belief there are no other facts, estimates <br />or circumstances which would materially change such expectations. <br />Dated this ~ day of ~ehruary 2007, the same being the date of <br />delivery of and payment for the Purchase Agreement. <br />Orange County, North Carolina <br />B ~G~ <br />Y• <br />Name: Kenneth T. Chav;rnrs <br />Title: Finance Director <br />#765698v2 (BAPCC/N Carolina Installment Purch Agmt) A-13 <br />