Orange County NC Website
Browse       Search
4. Low and Moderate Income Housing Bonds -- $4.000.000 <br /> BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL <br /> OBLIGATION LOW AND MODERATE INCOME HOUSING BONDS IN <br /> THE MAXIMUM AMOUNT OF $490009000 <br /> WHEREAS -- <br /> The Board of Commissioners of Orange County, North Carolina, by <br /> resolution adopted on June 25, 2001, has stated its proposal to issue general <br /> obligation bonds to pay capital costs of providing housing for the benefit of persons <br /> of low and moderate income. <br /> The County has applied to the North Carolina Local Government Commission <br /> for its approval of such bonds, and the Commission has accepted the County's <br /> application. <br /> BE IT ORDERED by the Board of Commissioners of Orange County, North <br /> Carolina, as follows: <br /> 1. There are hereby ordered to be issued general obligation bonds of the <br /> County to pay capital costs of providing housing for the benefit of persons of low <br /> and moderate income, together with related financing and other necessary or <br /> incidental costs. <br /> 2. The maximum aggregate principal amount of the bonds issued for such <br /> purpose will be $4,000,000. <br /> 3. Taxes will be levied in an amount sufficient to pay the principal of and <br /> interest on the bonds so issued. <br /> 4. A sworn statement of debt prepared by the County's Finance Officer <br /> has been filed with the Clerk to this Board and is open to public inspection. <br /> 5. This Bond Order will take effect when approved by the County's voters <br /> in the manner provided by law. <br /> BONDORD&PHRES0814 <br />