Orange County NC Website
4 <br /> in the County sufficient to pay the principal of and interest on the Bonds as the same <br /> become due. <br /> 4. Approval of Official Statement for Offering - There has been made <br /> available to each member of the Board a draft of an official statement (the "Official <br /> Statement") relating to the Bonds, which is designed to provide appropriate <br /> information about the County and the financing to prospective investors in the <br /> Bonds. The draft Official Statement remains subject to completion and amendment. <br /> The Board approves the LGC's distribution of the Official Statement to <br /> prospective purchasers of the Bonds. The Official Statement as distributed must be <br /> in substantially the form presented to this meeting, which the Board approves, with <br /> changes as the Finance Officer may approve. The Board ratifies the prior actions of <br /> the Finance Officer and other County representatives, in collaboration with the LGC <br /> staff, in preparing the text of the Official Statement. <br /> The Board acknowledges that it is the County's responsibility, and ultimately <br /> the Board's responsibility, to ensure that the Official Statement in its final form <br /> neither contains an untrue statement of a material fact nor omits to state a material <br /> fact required to be included therein for the purpose for which the Official Statement <br /> is to be used or necessary to make the statements therein, in light of the <br /> circumstances under which they were made, not misleading. By the adoption of this <br /> resolution, the Board members acknowledge and accept their own responsibility for <br /> causing the County to fulfill these responsibilities for the Official Statement. <br /> The County deems the Official Statement as distributed by the LGC to be a <br /> "final official statement" within the meaning of Rule 15c2-12 of the Securities <br /> Exchange Act of 1934, as amended ("Rule 15c2-12"), except for the omission of <br /> certain final Bond pricing and other information that Rule 15c2-12 allows to be <br /> omitted. <br /> 5. Prepayment Provisions - The Board directs the Finance Officer, upon <br /> advice from the LGC, to determine the terms and conditions under which the Bonds <br /> will be subject to prepayment prior to maturity. The Finance Officer shall execute a <br /> certificate prior to the initial delivery of the Bonds designating prepayment terms <br /> 2 <br />