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145 <br /> Orange County,North Carolina <br /> Limited Obligation Bonds, Series 2021A* <br /> Taxable Limited Obligation Refunding Bonds, Series 2021B* <br /> INTRODUCTION <br /> The purpose of this Official Statement,which includes the Appendices hereto,is to provide certain <br /> information in connection with the Orange County, North Carolina Limited Obligation Bonds, Series <br /> 2021A in the aggregate principal amount of$ * (the "2021A Bonds") and Taxable Limited <br /> Obligation Bonds, Series 2021B in the aggregate principal amount of$ * (the "2021B Bonds" <br /> and,together with the 2021A Bonds,the"2021 Bonds"). <br /> The 2021 Bonds will be issued pursuant to a Trust Agreement dated as of June 1,2021 (the"Trust <br /> Agreement"),between Orange County,North Carolina(the"County")and The Bank of New York Mellon <br /> Trust Company,N.A., as trustee (the"Trustee"). <br /> Capitalized terms used in this Official Statement, unless otherwise defined herein, have the <br /> meanings set out in Appendix C hereto under the caption"DEFINITIONS." <br /> This Introduction provides only certain limited information with respect to the contents of this <br /> Official Statement and is expressly qualified by the Official Statement as a whole. Prospective investors <br /> should review the full Official Statement and each of the documents summarized or described herein. This <br /> Official Statement speaks only as of its date, and the information contained herein is subject to change. <br /> THE COUNTY <br /> The County is a political subdivision of the State of North Carolina(the"State"). See Appendix A, <br /> "THE COUNTY,"hereto for certain information regarding the County. The County's most recent audited <br /> financial statements are contained in Appendix B hereto. <br /> PURPOSE <br /> The 2021 Bonds are being issued in order to (1)finance the acquisition, construction, equipping <br /> and improvement of certain County facilities as further described herein, (2) refinance an installment <br /> financing contract entered into between Bank of America, N.A. and the County in 2014 (the "Refunded <br /> 2014 Installment Financing Contract"), (3)refund a state revolving loan issued to the County in 2014 (the <br /> "Refunded SRL"), (4) refund the outstanding Orange County Public Facilities Company Limited <br /> Obligation Bonds, Series 2012 (the "Refunded 2012 Bonds" and, together with the Refunded 2014 <br /> Installment Financing Contract and Refunded SRL, the "Refunded Obligations"), and (5) finance certain <br /> costs incurred in connection with the execution and delivery of the 2021 Bonds. See "THE PLAN OF <br /> FINANCE"and"ESTIMATED SOURCES AND USES OF FUNDS"herein. <br /> SECURITY <br /> The payment by the County of the principal of and interest on the 2021 Bonds is limited to funds <br /> appropriated for that purpose by the Board of Commissioners for the County in its sole discretion, except <br /> to the extent payable from Bond proceeds, investment earnings, Net Proceeds related to casualty or <br /> condemnation proceeds, or amounts derived from the enforcement of remedies on default. <br /> *Preliminary,subject to change. <br />