Orange County NC Website
Browse       Search
16 <br /> • m Ratings: <br /> Moody's: <br /> S&P: <br /> Fitch: <br /> 2��° (See"Ratings"herein) <br /> N ° <br /> '4 3 PRELIMINARY OFFICIAL STATEMENT DATED NOVEMBER 80,2009 <br /> a NEW ISSVFr—Book-Entry Only <br /> 8,-, <br /> u <br /> A This Official Statement has been prepared by the Local Government Commission of North Carolina and the County of Orange, <br /> North Carolina to provide information in connection with the sale and issuance of the Bonds described herein. Selected infor- <br /> motion is presented on this cover page for the convenience of the user. To make an informed decision regarding the Bonds,a <br /> prospective investor should read this Official Statement in its entirety. Unless indicated,capitalized terms used on this cover <br /> $ page have the meanings given in this OflwW Statement. <br /> o � <br /> �A <br /> $9,7609000* <br /> M 9 ,j County of Orange, North Carolina <br /> 2 o <br /> s <br /> o` General Obligation Refunding Bonds, Series 2009 <br /> b a� <br /> cDated: Date of Delivery Due:As shown on inside cover page <br /> Tax Exemption In the opinion of Bond Counsel and subject to the qualifications de- <br /> scribed herein,interest on the Bonds is not includable in gross income <br /> s for federal income tax purposes and is exempt from existing State of <br /> 1�o North Carolina income taxation. See "Tax Exemption" herein for <br /> ., a ° additional information regarding tax consequences arising from own- <br /> sership or receipt of interest on the Bonds. The Bonds will not be <br /> "qualified tax-exempt obligations" within the meaning of Internal <br /> Revenue Code Section 26W)(3). <br /> A p <br /> Redemption The Bonds are subject to optional redemption at the times and prices <br /> p as set forth herein. <br /> Security The Bonds constitute general obligations of the County,secured by a <br /> s <br /> pledge of the faith and credit and taxing power of the County. <br /> o Interest Payment Dates February 1 and August 1,commencing February 1,2010 <br /> " Denominations $5,000 or any integral multiple thereof <br /> w Expected Closing/Settlement December 21,2009 <br /> ° a <br /> g� Bond Counsel Sanford Holshouser LLP <br /> Financial Advisor BB&T Capital Markets <br /> 8 <br /> W Sate Date December 8,2009 <br /> Sale of Bonds Pursuant to sealed bids in accordance with the Notice of Sale <br /> ° Qo <br /> The date of this Official Statement is December_,2009 <br /> as <br /> l3 Preliminary,subject to change. <br /> u <br /> ba <br /> 'n'a <br /> �2 <br />