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Key Financing Terms 12 <br /> ➢ Security Pledge- County assets and annual County appropriations <br /> ➢ Maturity Term- 5- 20 Year maturities matches the useful life of the assets <br /> ➢ Estimated Interest Rates- up to 4% subject to market conditions <br /> ➢ Maximum Annual Debt Service not exceeding $4.2 Million (FY 2021-22) <br /> ➢ Source of Repayment- Property Tax, Solid Waste Fees and Sportsplex Fees <br /> ➢ Limited Obligation Bonds are Subordinate Lien to AAA General Obligation Bonds <br /> ➢ Anticipated Limited Obligation Bonds- AA1/AA+/AA+ from Moody's, Standard & Poor's and <br /> Fitch Ratings <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />