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2 <br /> SUPPLEMENTAL BOND RESOLUTION <br /> WHEREAS.- <br /> On June 25, 2001, the Board of Commissioners (the "Board") of Orange <br /> County, North Carolina (the "County"), adopted a resolution providing for the sale <br /> of certain refunding bonds, among other matters (the "Bond Resolution"). <br /> The Bond Resolution provided that the refunding bonds would be subject to <br /> prepayment by the County prior to their maturity. After consultation with the staff <br /> of the North Carolina Local Government Commission and upon recommendation <br /> from the County's financial advisor, the Finance Officer determined it would <br /> enhance the savings to the County if the refunding bonds were not subject to <br /> prepayment. <br /> By this resolution, the Board ratifies this determination by the Finance <br /> Officer. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of <br /> Orange County, North Carolina, as follows: <br /> 1. Notwithstanding any other provision of the Bond Resolution, the <br /> Refunding Bonds (as defined in the Bond Resolution) will not be subject to <br /> redemption or prepayment prior to their maturities. The prior actions of the <br /> Finance Officer and any other County representatives consistent with this <br /> provision are ratified, approved and confirmed. <br /> 2. Except as provided above, the Board confirms the provisions of the <br /> Bond Resoution. <br />