Orange County NC Website
Browse       Search
6 <br />entitled to payment of principal, premium, if any, and interest and the exercise of all <br />rights and powers of the owner, except that interest payments will be made to the <br />person shown as owner on the registration books an the 15th day of the month <br />preceding each interest payment date. <br />9. Advertising Bonds for Sale -- There has been made available to the <br />Board a draft of a Notice of Sale and Bid Form relating to the Bonds (the "Notice of <br />Sale"). The Finance Officer, in collaboration with the LGC, is authorized and directed <br />to take all proper steps to advertise the Bonds for sale substantially in accordance with <br />the draft Notice of Sale, which is hereby approved, provided that the Finance Officer, <br />in collaboration with the LGC, may make such changes in the Notice of Sale not <br />inconsistent with this resolution as such officer may consider to be in the County's <br />best interest. <br />In addition, the Finance Officer is authorized and directed to provide for the <br />publication of a notice of sale of the Bonds, in such form as such officer may <br />determine, at least one time each in both (a) a newspaper having general circulation in <br />the County and (b) a recognized national financial journal, in each case at least fve <br />days before the sale date for the Bonds, all in accordance with LGC guidelines. <br />10. LGC To Sell Bonds =The County asks the LGC to sell the Bonds, to <br />receive and evaluate bids and to award the Bonds to the successfixl purchaser. <br />11. Completing Official Statement after Sale -- After bids have been <br />received and the LGC has awarded the Bonds to the successful purchaser, the Finance <br />Officer is authorized and directed to prepare, in collaboration with the LGC, a <br />supplement to the Official Statement containing, among such other matters as may be <br />appropriate, information requixed pursuant to Rule 15c2-12 ("Rule 15c2-12") <br />promulgated by the United States Securities and Exchange Commission under the <br />United States Securities Act of 1934, as amended. The County, together with the <br />LGC, will arrange for the delivery within seven business days of the date the Bonds <br />are sold of a reasonable number of copies of the supplemented Official Statement to <br />the successful bidder on the Bonds for delivery to each potential investor requesting a <br />copy of the supplemented Official Statement and to each person to whom such bidder <br />and members of the bidding group initially sell the Bonds. <br />12. Finance G~cer To Complete Bond Closing -After the sale of the <br />Bonds, the- Finance Officer and all other County officers and ,employees are <br />authorized and directed to take all proper steps to have the Bonds prepared and <br />executed in accordance with their terms and to deliver the Bonds to the purchaser <br />upon payment for the Bonds. <br />The Finance Officer is authorized and directed to hold the executed Bonds, and <br />any other documents authorized or permitted by this resolution, in escrow on the <br />