Orange County NC Website
in the County and (b) a recognized national financial j ournal, in each case at least five <br />days before the sale date for the Bonds, all in accordance with LGC guidelines. <br />II. LGC To Sell Bonds -The County asks the LGC to sell the Bonds, <br />to receive and evaluate bids acid to award the Bonds to the successful purchaser. <br />12. Completing Official Statement after Sale -- After bids have been <br />received and the LGC has awarded the Bonds to the successful purchaser, the Finance <br />Officer is authorized and directed to prepare, in collaboration with the LGC, a <br />supplement to the Official Statement containing, among such other matters as may <br />be appropriate, information required pursuant to Rule 15c2-12 ("Rule 15c2-12") <br />promulgated by the United States Securities and Exchange Commission under the <br />United States Securities Act of 1934, as amended. The County, together with the <br />LGC, will arrange for the delivery within seven business days of the date the Bonds <br />axe sold of a reasonable number of copies of the supplemented Official Statement to <br />the successful bidder on the Bonds for delivery to each potential investor requesting <br />a copy of the supplemented Official Statement and to each person to whom such <br />bidder and members of the bidding group initially sell the Bonds. <br />13. Finance Officer To Complete Bond Closing- After the sale of the <br />Bonds, the Finance Officer and all other County officers and employees are <br />authorized and directed to take all proper steps to have the Bonds prepared and <br />executed in accordance with their terms and to deliver the Bonds to the purchaser <br />upon payment for the Bonds. <br />The Finance Officer is authorized and directed to hold the executed Bonds, and <br />any other documents authorized or permitted by this resolution, in escrow on the <br />County's behalf until the conditions for the delivery of the Bonds and other <br />documents have been completed to the Finance Officer's satisfaction, and thereupon <br />to release the executed Bonds and other documents for delivery to the appropriate <br />persons or organizations. <br />Without limiting the generality of the foregoing, this authorization and <br />direction is specifically extended to authorize the Finance Officer (a) to enter into <br />such agreements or take such other actions as such officer may deem appropriate in <br />connection with obtaining bond insurance for the Bonds and providing -for the <br />refunding contemplated by this resolution (such as giving notice of redemption and <br />85902.1 <br />