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4. Low and Madeerme Income Housinj Bonds -- 54.000.000 <br />BOND ORDER AUTHORIZRVG T~ ISSUANCE OF GENERAL <br />OBLIGATION LOW AND MODERATE INCOME ROUSING BONDS IN <br />THE MARNIUM AMOUNT OF $1,000,000 <br />WHEREAS-- <br />The Board of Commissioners of Orange County, North Carolina, by <br />resolution adopted on lone 25, 2001, has stated its proposal ro issue general <br />obligadoo bontls ro pay capital costs of providing housing for me beuefit of persons <br />of low and moderate income. <br />The Courtly has applied ro the North Carolina Local Government Commission <br />for its approval of such bonds, and [he Commission has accepted the County's <br />application. <br />BE TT ORDERED by the Boats of Commissioners oFOmnge County, NoM <br />Carolina, as follows: <br />1. There are hereby ordered td be issued general obliga4on bonds of Ne <br />County ro pay capita casts of providing housing far the benefit of persons of low <br />and moderate income, together with related fmaucing ant other necessary or <br />VlCldental COS45. <br />2. The maximmn aggregate principal amowt of the bonds issued fur such <br />purpose wiB he $4,000,000. <br />3. Taxes will be levied in an amount sufficient ro pay the Drincipal of and. <br />interest on Ore bonds so issued. <br />4. A sworn statement of debt prepared by the County's Finance Officer <br />has been filed wiN the Clerk to this BoaN and is open to public inspection. <br />5. This Hots Order will take effect when approved by the Coumy's votesa <br />in the mamu;r provided by law. <br />BONDORDADO]'TATI'0'XW <br />