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<br />Kenneth T. Chavious <br />June 11, 2004 <br />Page 9 <br />Orange County Public Building Bonds-- Notice of Adoption of Bond Order <br />The Orange County Board of Commissioners has adopted the following <br />bond order, providing for the issuance of public building bonds. Further <br />information regarding the bonds and the bond order appears at the end of this <br />notice. <br />~ ~ ~ ~ ~ ~ <br />BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL <br />OBLIGATION PUBLIC BUILDING BONDS IN THE MAXIMUM <br />AMOUNT OF $4,200,000 <br />WHEREAS -- <br />By resolution adopted on May 18, 2004, the Board of Commissioners of <br />Orange County, North Carolina (the "County"), stated its proposal to issue general <br />obligation bonds to pay capital costs of providing public buildings. <br />By law, the County may issue such bonds without referendum approval <br />because the amount of the proposed bonds does not exceed two-thirds of the <br />amount by which the County will have reduced its outstanding indebtedness in the <br />2003-04 fiscal year. <br />The County has applied to the North Carolina Local Government <br />Commission (the "LGC") for its approval of such bonds. The LGC has accepted <br />the County's application. <br />BE IT ORDERED by the Board of Commissioners of Orange County, <br />North Carolina, as follows: <br />1. There are hereby ordered to be issued general obligation public <br />building bonds of the County to pay capital costs of providing public buildings, <br />including costs of acquisition, construction, renovation and other capital costs, <br />Orange 04 23 2d meeting docs <br />