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59 <br /> Orange County,North Carolina <br /> Limited Obligation Bonds, Series 2019B <br /> INTRODUCTION <br /> The purpose of this Official Statement, which includes the Appendices hereto, is to provide <br /> certain information in connection with the Orange County, North Carolina Limited Obligation Bonds, <br /> Series 2019B in the aggregate principal amount of$[ ]*(the"2019B Bonds"). <br /> The 2019B Bonds will be issued pursuant to a Trust Agreement dated as of June 1, 2018 (the <br /> "2018 Trust Agreement"), as previously supplemented and as supplemented by a Second Supplemental <br /> Trust Agreement dated as of November 1, 2019 (the "Second Supplemental Trust Agreement"), each <br /> between Orange County, North Carolina (the "County") and The Bank of New York Mellon Trust <br /> Company,N.A., as trustee(the"Trustee"). <br /> The County has previously issued its $7,510,000 Limited Obligation Bonds, Series 2018 (the <br /> "2018 Bonds"), of which$[6,715,000] in principal amount is currently Outstanding,pursuant to the Trust <br /> Agreement and its $14,135,000 Limited Obligation Bonds, Series 2019A (the "2019A Bonds" and, <br /> together with the 2018 Bonds, the "Prior Bonds"), all of which remain Outstanding, pursuant to the Trust <br /> Agreement and the First Supplemental Trust Agreement dated as of May 1, 2019 (the"First Supplemental <br /> Trust Agreement" and, together with the 2018 Trust Agreement and the Second Supplemental Trust <br /> Agreement,the"Trust Agreement"),each between the County and the Trustee. <br /> Capitalized terms used in this Official Statement, unless otherwise defined herein, have the <br /> meanings set out in Appendix C hereto under the caption"DEFINITIONS." <br /> This Introduction provides only certain limited information with respect to the contents of this <br /> Official Statement and is expressly qualified by the Official Statement as a whole. Prospective investors <br /> should review the full Official Statement and each of the documents summarized or described herein. <br /> This Official Statement speaks only as of its date, and the information contained herein is subject to <br /> change. <br /> THE COUNTY <br /> The County is a political subdivision of the State of North Carolina (the "State"). See <br /> Appendix A,"THE COUNTY,"hereto for certain information regarding the County. The County's most <br /> recent audited financial statements are contained in Appendix B hereto. <br /> PURPOSE <br /> The 2019B Bonds are being issued in order to (1) finance the acquisition, construction, equipping <br /> and improvement of certain County facilities as further described herein and (2)finance certain costs <br /> incurred in connection with the execution and delivery of the 2019B Bonds. See "THE PLAN OF <br /> FINANCE"and"ESTIMATED SOURCES AND USES OF FUNDS"herein. <br /> SECURITY <br /> The payment by the County of the principal of and interest on the 2019B Bonds is limited to <br /> funds appropriated for that purpose by the Board of Commissioners for the County in its sole discretion, <br /> *Preliminary,subject to change. <br /> 119081418_1 <br />