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6 <br /> would allow Orange County immediate access to the funds at any <br /> e <br /> Additionally, NationsBank will secure these deposits with U.S. Treasuries. <br /> The second option would be to invest the funds in Orange County's <br /> 14-day Time Open Account, which currently bears an interest rate of 5.93% <br /> Orange County would have access to the funds at any f 5. s <br /> notice. NationsBank could accommodate any withdrawal�s given 30 Orange County might have, that <br /> Account will also be secured by U.S. s notice. The Time Open <br /> Both the Public Investment and the Time Open interest rates are subject weekly. ubject to <br /> We have also attached an interest revenue chart <br /> the amount of interest you could earn by placing (Exhibit proceeds in escrow. <br /> It is evident from comparing this chart with the amortization schedules escrow. <br /> you would save more money by choosing a construction draw option han you would gain from putting excess funds into escrow. It should also be no Yo <br /> that since the escrow account interest rates are subject to change week <br /> Y funded financing. <br /> interest rate risk increases with fully g eeklynancing. <br /> Ken, we look forward to hearing from you soon. Please call <br /> questions you may have about our proposal. with any <br /> Yours truly, <br /> c9ite <br /> Denise Corey <br /> Chapel Hill City Executive Stephanie Leo <br /> 918-4203 Assistant Vice President <br /> 918-4204 <br />