Orange County NC Website
Browse       Search
63 <br /> any order, rule or regulation of any regulatory body or court having jurisdiction over the County <br /> or its activities or properties. <br /> 0) The County is not in default in the payment of the principal of or interest <br /> on any of its indebtedness for borrowed money and is not in default in any material respect under <br /> any document or instrument under and subject to which any indebtedness for borrowed money <br /> has been incurred which default would affect materially and adversely the transactions <br /> contemplated by any of the County Documents. No event has occurred or is continuing under <br /> the provisions of any such document or instrument that, with the lapse of time or the giving of <br /> notice, or both, would constitute an event of default thereunder, which event of default would <br /> affect adversely the transactions contemplated by any of the County Documents. <br /> (k) The County is not in material breach of or in default under the Approving <br /> Resolution, any applicable law or administrative regulation of the State or the United States, or <br /> any applicable judgment or decree, or any loan agreement, note, resolution or other agreement or <br /> instrument to which the County is a party or is otherwise subject, which breach or default would <br /> in any way materially adversely affect the authorization or issuance of the Bonds and the <br /> transactions contemplated hereby, and no event has occurred and is continuing which, with the <br /> passage of time or the giving of notice or both, would constitute such a breach or default. <br /> (1) On and as of the Closing, all authorizations, consents, and approvals of, <br /> notices to, registrations or filings with, or actions in respect of any governmental body, agency, <br /> or other instrumentality or court required to be obtained, given, or taken on behalf of the County <br /> in connection with the execution, delivery and performance by the County of the County <br /> Documents, and any other agreement or instrument to which the County is a party and which has <br /> been or will be executed in connection with the consummation of the transactions contemplated <br /> by the foregoing documents, will have been obtained, given, or taken and will be in full force <br /> and effect. <br /> (m) Any certificate signed by an authorized officer of the County delivered to <br /> the Underwriters shall be deemed a representation and warranty by the County to the <br /> Underwriters as to the truth of the statements made therein. <br /> (n) The County has and will cooperate with the Underwriters and their <br /> counsel in any endeavor to qualify the Bonds for offering and sale under the securities or "Blue <br /> Sky" laws of such jurisdictions of the United States as the Underwriters may request; provided, <br /> however, that the County will not be required to execute a general or special consent to service <br /> of process or qualify to do business in connection with any qualification or determination in any <br /> jurisdiction. <br /> (o) The audited financial statements of the County as of June 30, 2018, <br /> present fairly the County's financial condition as of such date and the results of its operations for <br /> the respective periods set forth therein and have been prepared in accordance with generally <br /> accepted accounting principles consistently applied. There has been no material change in the <br /> financial affairs of the County since June 30, 2018, except as disclosed specifically in the <br /> Official Statement. <br /> -7- <br />