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11 <br />Attachment 2 <br />Bond Order for Refunding Bonds <br />BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION <br />REFUNDING BONDS IN THE MAXIMUM AMOUNT OF $15,500,000 <br />WHEREAS — <br />Orange County has determined that refinancing a portion of the County's <br />outstanding general obligation bonds could provide savings to the County. The County <br />has applied to the North Carolina Local Government Commission for its approval of the <br />issuance of County bonds to carry out such a refinancing, and the LGC has accepted the <br />County's 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 refunding bonds of <br />the County to provide for the refinancing of a portion of the County's outstanding general <br />obligation bonds, including the payment of related financing costs. In particular, the <br />bonds to be refunded may include all or any portion of the County Outstanding General <br />Obligation Refunding Bonds, Series 2005B. <br />2. The maximum aggregate principal amount of the bonds issued for such <br />purpose will be $15,500,000. <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 has <br />been filed with the County Clerk and is available for public inspection. <br />5. This Bond Order takes effect immediately. <br />