RES-2012-101 Resolution for the Sale of Up to $20,000,000 of County General Obligation Refunding Bonds

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EXHIBIT A- Form of Bonds REGISTERED REGISTERED Number R-X UNITED STATES OF AMERICA STATE OF NORTH CAROLINA ORANGE COUNTY General Obligation Refunding Bond, Series 2012 INTEREST RATE MATURITY DATE DATED DATE CUSIP % April 1, December 20,2012 684 609 XXX REGISTERED OWNER.*****CEDE & CO.***** PRINCIPAL AMOUNT: **** THOUSAND DOLLARS ($ ,000)*** ORANGE COUNTY, NORTH CAROLINA (the "County'), for value received, promises to pay to the registered owner of this Bond, or registered assigns or legal representative, the principal amount stated above on the maturity date stated above, subject to prior redemption as described herein, and to pay interest on this Bond semiannually on each April 1 and October 1, beginning April 1, 2013, at the annual rate stated above. Interest is payable (a) from the dated date stated above, if this Bond is authenticated prior to April 1, 2013, or (b) otherwise from the April 1 or October 1 that is, or immediately precedes, the date on which this Bond is authenticated(unless payment of interest on this Bond is in default, in which case this Bond will bear interest from the date to which interest has been paid). Principal and interest are payable in lawful money of the United States of America. This Bond is one of an issue of the County's $20,000,000 General Obligation Refunding Bonds, Series 2012 (the "Bonds"), of like date and tenor, except as to number, denomination, rate of interest, privilege of redemption and maturity. The Bonds are issued pursuant to a resolution adopted by the County's governing Board of Commissioners on November 20, 2012, and the Constitution and laws of the State of North Carolina, including the Local Government Bond Act. The County's full faith and credit are pledged for the payment of principal of and interest on this Bond.