Orange County NC Website
Trust Agreement and proceeds of the disposition of the Mortgaged Property, the amount of <br />«~~hich may be reduced by the condition of the Mortgaged Property. <br />Outstanding General Obligation Debt of the Count~~ <br />The County has issued general obligation bonds and expects to issue general obligation <br />bonds and notes in the future. The County has pledged and «Till pledge its faith and credit and <br />taxing po~~~er to the payment of its general obligation bonds and notes. See the caption "THE <br />COUNTY -Debt Information" herein. FUNDS WHICH MAY OTHERWISE BE <br />AVAILABLE TO PAY INSTALLMENT PAI'MENTS OR ADDITIONAL PAI'MENTS <br />OR TO 11'IAKE OTHER PAYNTENTS TO BE NTADE BY THE C"OUNTY UNDER THE <br />FINANCING CONTRACT N1<4Y BE SUBJECT TO SUCH FAITH AND CREDIT <br />PLEDGE BY THE COLINTY AND THEREFORE M:~Y BE REQLIIRED TO BE <br />APPLIED TO THE PAYMENT OF ITS GENERAL OBLIGATION INDEBTEDNESS. <br />AVAILABLE SOURCES FOR PAYI~~TENT OF INSTALLMENT PAYII~TENTS <br />General <br />The County may pay its Installment Payments from any source of funds legally available <br />to it in each year and appropriated therefor during the term of the Financing Contract. <br />INSTALLMENT PAYII~TENT SCHEDULE <br />The following schedule sets forth for each Fiscal Year of the County ending June 30 the <br />amount of principal (t~-•hether at maturity or pursuant to mandatory prepayment) and interest <br />required to be paid under the Financing Contract with respect to the 2006A Cel-tificates. <br />Fiscal Year <br />Ending Principal Component of Interest Component of <br />June 30 Installment Payments Installment Payments Total <br />C-883836v4 13361.00022 1 <br />