Agenda - 12-01-1987 - Laserfiche WebLink

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NMII) CERTIFICATE AS TO ARBITRAGE We, Shirley Marshall and Kenneth T. Chavious, the Chairman of the Board of Commissioners for the County of Orange, North Carolina (the "County") and the Interim Finance Director for Count the y, being duly charged with others with responsibility for issuing the $200, 000 Sanitary Sewer Bond Anticipation Notes o the County, of y, date December 16, 1987 and maturing on March 16, 1988 (the ."New Notes") , to be delivered this day, DO HEREBY CERTIFY, pursuant to sections 1. 103-13, 1. 103-14 and 1. 103-15 of the Treasury Regulations and under Section 148 of the Internal Revenue Code of 1986, as amended (the "Code") , as follows: 1. The New Notes will be exchanged, par for par, for the $200, 000 Sanitary Sewer Bond Anticipation Note of the Count dated June 29, 1987 and County, maturing December 16, 1987 (the "Maturing Notes") which Maturing Notes were issued for the purpose of providing funds for paying (a) a portion of the cost of constructing a portion of a sanitary sewer system for the Count including the construction of sewage collector, interceptor and y, force mains and lines, sewage p g pumping facilities and appurtenant facilities, the construction of a sewage main to transport sews to the sanitary sewer system of the Town of Hillsborough for sewage treatment and the acquisition of any necessary land, rights of . way and equipment therefor (the "Project") and b accounting and financing expenses incurred and (b) certain legal, d �.n connection with the issuance of the Maturing Notes (the "Issuance Expenses" 2 . The estimated total cost of the Project and the Issu- ance Expenses will be at least $1,589, 045. Said total cost is expected to be financed by the County from the proceeds derived from the sale of the _Maturing Notes, investment earnings thereon the proceeds of state and federal grants and certain other moneys of the County. ys