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a© <br />covenants under this Agreement (together with interest that may accrue on any of the <br />above if the County shall fail to pay the same, as set forth in this Agreement). <br />"Amount Financed" means the principal sum of $1,685,000, <br />"Bond Counsel Opinion" means a written opinion (in form and substance <br />acceptable to Sellers) of an attorney or firm of attorneys acceptable to Sellers. <br />"Budget Officer" means the County officer from time to time charged with <br />preparing the County's draft budget as initially submitted to the Governing Board for its <br />consideration. <br />"Business Day" means any day on which banks in the State are not by law <br />authorized or required to remain closed. <br />"Closing Date" means the date on which this Agreement is first executed and <br />delivered by the parties. <br />"Code" means the Internal Revenue Code of 1986, as amended, including <br />regulations, rulings and revenue procedures promulgated thereunder or under the Internal <br />Revenue Code of 1954, as amended, as applicable to the County's obligations under this <br />Agreement and all proposed (including temporary) regulations which, if adopted in the <br />form proposed, would apply to such obligations. Reference to any specific Code <br />provision shall be deemed to include any successor provisions thereto. <br />"County" means Orange County, North Carolina. <br />"County Representative" means the County's Finance Officer or such other <br />person or persons at the time designated, by a written certificate furnished to Sellers and <br />signed on the County's behalf by the presiding officer of the County's Governing Board, <br />to act on the County's behalf for any purpose (or any specified purpose) under this <br />Agreement. <br />"Event of Default" means one or more events of default as defined in Section <br />8.01. <br />"Event of Nonappropriation" means any failure by the Governing Board to adopt, <br />by the first day of any Fiscal Year, a budget for the County that includes an appropriation <br />for Required Payments as contemplated by Section 3.05. <br />"Existing Encumbrances" means the encumbrances described in Exhibit B. <br />4 <br />finagreemttweeter