Orange County NC Website
Browse       Search
6 <br /> 7. Finance Officer as Registrar; Payments to Registered Owners -- The <br /> Board appoints the Finance Officer as Registrar for the Bonds. As Registrar, the <br /> Finance Officer shall maintain appropriate books and records of the ownership of <br /> the Bonds. The County will treat the registered owner of each Bond as the person <br /> exclusively entitled to payment of principal, interest and any prepayment premium <br /> and the exercise of all rights and powers of the owner, except that the County will <br /> make payments to the person shown as owner on the registration books at the end <br /> of the calendar day on the 15th day of the month (whether or not a business day) <br /> preceding each interest payment date. <br /> 8. Advertising Bonds for Sale - The Board directs the Finance Officer, in <br /> collaboration with the LGC, to take all proper steps to advertise the Bonds for sale in <br /> accordance with standard LGC procedures, including through the use of a "Notice of <br /> Sale" document in the LGC's customary form and in substantially the same form as <br /> used for prior County bond sales. The Board directs the Finance Officer to review <br /> and approve a form of Notice of Sale as that officer may determine to be in the <br /> County's best interest. <br /> 9. LGC To Sell Bonds -- The County asks the LGC to sell the Bonds, to <br /> receive and evaluate bids and to award the Bonds based on the best bid received. <br /> 10. Completing Official Statement after Sale - After the LGC has received <br /> bids and awarded the Bonds to the successful bidder, the Board directs the Finance <br /> Officer, in collaboration with the LGC, to prepare a final Official Statement within the <br /> meaning of Rule 15c2-12. The Board authorizes the Finance Officer to approve the <br /> final document as a final Official Statement. The County, together with the LGC, will <br /> arrange for the delivery within seven business days of the sale date of a reasonable <br /> number of copies of the final Official Statement to the successful bidder on the <br /> Bonds for delivery to each potential investor requesting a copy of the final Official <br /> Statement and to each entity to which the bidder and members of the bidding group <br /> initially sell the Bonds. <br /> 11. County Officers To Complete Closing - The Board authorizes the <br /> Finance Officer and all other County officers and employees to take all proper steps <br /> 4 <br />