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8 <br /> 5. Bonds for the Acquisition of Land and Interests in Land --A3,000 000 <br /> BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL <br /> OBLIGATION BONDS FOR LAND ACQUISITION IN THE MAXIMUM <br /> AMOUNT OF $390009000 <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 acquiring land (and interests in land) for <br /> County purposes. <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 THEREFORE ORDERED by the Board of Commissioners of <br /> Orange County, North 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 for the acquisition of land and interests in <br /> land for present or future County purposes, together with related financing and other <br /> necessary or incidental costs. This purpose includes, but is not limited to, the <br /> acquisition of land or interests in land for corporate purposes as well as parks, open <br /> space and conservation purposes. <br /> 2. The maximum aggregate principal amount of the bonds issued for such <br /> purpose will be $3,000,000. <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 />