Orange County NC Website
Browse       Search
156 <br /> The Trust Agreement and the Deed of Trust generally allow the County to direct the release of any <br /> portion of the Mortgaged Property, in the County's discretion, so long as the taxable, appraised or insured <br /> value of the property remaining subject to the lien of the Deed of Trust following such release is at least <br /> equal to 50% of the principal amount of the Outstanding Bonds. See "THE DEED OF TRUST—No <br /> Transfers; Releases; Grants of Easements"in Appendix C hereto. <br /> ESTIMATED SOURCES AND USES OF FUNDS <br /> The County estimates the sources and uses of funds for the plan of finance to be as follows: <br /> SOURCES: <br /> Par Amount of the 2021 Bonds <br /> Net Original Issue Premium/Discount <br /> TOTAL SOURCES OF FUNDS <br /> USES: <br /> Deposit to Project Fund <br /> Refunding of 2012 Bonds <br /> Prepayment of 2014 Contract <br /> Prepayment of State Revolving Loan <br /> Costs of Issuance' <br /> TOTAL USES OF FUNDS <br /> ' Includes legal fees,underwriters'compensation,financial advisor fees,rating agency fees,fees and expenses of the Trustee and <br /> miscellaneous fees and expenses. <br /> 12 <br />