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20 <br /> d�a$M7Fo� <br /> State of North Carolina <br /> Department of State Treasurer <br /> JANET COWELL State and Local Government Finance Division T.VANCE HOLLOMAN <br /> TREASURER and the Local Government Commission DEPUTY TREASURER <br /> INTRODUCTION <br /> This Official Statement,including the cover page and the appendices hereto,is intended to fur- <br /> nish information in connection with the public invitation for bids for the purchase of$9,760,000* <br /> General Obligation Refunding Bonds, Series 2009 (the "Bonds"), of the County of Orange, North <br /> Carolina(the"County"). <br /> The information furnished herein includes a brief description of the County and its economic <br /> conditions, government, debt management, tax structure, financial operations, budget, pension <br /> plans and contingent liabilities. The County has assisted the Local Government Commission of <br /> North Carolina(the"Commission")in gathering and assembling the information contained herein. <br /> This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy <br /> any securities other than the Bonds offered hereby, nor shall there be any offer or solicitation of such <br /> offer or sale of the Bonds in any jurisdiction in which it is unlawful for such person to make such <br /> offer, solicitation or sale. Neither the delivery of this Official Statement nor the sale of any of the <br /> Bonds implies that the information herein is correct as of any date subsequent to the date hereof. <br /> The information contained herein is subject to change after the date of this Official Statement, and <br /> this Official Statement speaks only as of-its date. <br /> This Official Statement is deemed to be a final official statement with respect to the Bonds <br /> within the meaning of Rule 15c2-12 promulgated by the Securities and Exchange Commission under <br /> the Securities Exchange Act of 1934,as amended(the"Rule"),except,when it is in preliminary form, <br /> for the omission of certain pricing and other information to be made available by the successful bid- <br /> der or bidders for the Bonds to the Commission. In accordance with the requirements of such Rule, <br /> the County will agree in a resolution to be adopted by the Board of Commissioners of the County <br /> prior to the sale of the Bonds to certain continuing disclosure obligations. See the caption"Continu- <br /> ing Disclosure"herein. <br /> THE LOCAL GOVERNMENT COMMISSION OF NORTH CAROLINA <br /> The Commission, a division of the Department of State Treasurer, State of North Carolina(the <br /> "State"), is a State agency that supervises the issuance of the bonded indebtedness of all units of lo- <br /> cal government and assists these units in the area of fiscal management.Appendix A to this Official <br /> Statement contains additional information concerning the Commission and its functions. <br /> *Preliminary,subject to change. <br /> 1 <br />