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Agenda - 05-18-2021; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various CIP Projects and To Refinance Existing County Obligations
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Agenda - 05-18-2021; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various CIP Projects and To Refinance Existing County Obligations
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5/13/2021 3:20:20 PM
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BOCC
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5/18/2021
Meeting Type
Business
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Agenda
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8-e
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Agenda for May 18, 2021 Board Meeting
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157 <br /> TOTAL ANNUAL DEBT SERVICE REQUIREMENTS <br /> The following table sets forth for each Fiscal Year of the County, the debt service required to be <br /> paid by the County under the Trust Agreement with respect to the 2021 Bonds. <br /> 2021A Bonds 2021B Bonds <br /> Fiscal Year Total Principal Total Principal <br /> (Ended June 30) and Interest and Interest Total <br /> 2021 <br /> 2022 <br /> 2023 <br /> 2024 <br /> 2025 <br /> 2026 <br /> 2027 <br /> 2028 <br /> 2029 <br /> 2030 <br /> 2031 <br /> 2032 <br /> 2033 <br /> 2034 <br /> 2035 <br /> 2036 <br /> 2037 <br /> 2038 <br /> 2039 <br /> 2040 <br /> 2041 <br /> TOTAL' <br /> Note:Totals may not foot due to rounding. <br /> CERTAIN RISKS OF 2021 BOND OWNERS <br /> INSUFFICIENCY OF PAYMENTS <br /> If the County fails to pay any payments on the Bonds as the same become due or if another event <br /> of default occurs under the Trust Agreement, the Trustee may accelerate the principal with respect to the <br /> Bonds, direct the Deed of Trust Trustee to foreclose on the Mortgaged Property under the Deed of Trust, <br /> take possession of the Mortgaged Property and attempt to dispose of the Mortgaged Property. See "THE <br /> DEED OF TRUST" in Appendix C hereto. Zoning restrictions and other land use factors relating to the <br /> Mortgaged Property may limit the use of the Mortgaged Property and may affect the proceeds obtained on <br /> any disposition by the Deed of Trust Trustee. THERE CAN BE NO ASSURANCE THAT THE MONEYS <br /> AVAILABLE IN THE FUNDS AND ACCOUNTS HELD BY THE TRUSTEE AND THE PROCEEDS OF ANY SUCH <br /> DISPOSITION OF THE MORTGAGED PROPERTY WILL BE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE <br /> PRINCIPAL AND INTEREST WITH RESPECT TO THE BONDS. SECTION 160A-20(f)OF THE GENERAL STATUTES <br /> OF NORTH CAROLINA PROVIDES THAT NO DEFICIENCY JUDGMENT MAY BE RENDERED AGAINST THE <br /> COUNTY FOR ANY AMOUNTS THAT MAY BE OWED BY THE COUNTY UNDER THE TRUST AGREEMENT,AND <br /> THE TAXING POWER OF THE COUNTY IS NOT AND MAY NOT BE PLEDGED DIRECTLY OR INDIRECTLY OR <br /> CONTINGENTLY TO SECURE ANY MONEYS OWING BY THE COUNTY UNDER THE TRUST AGREEMENT. THE <br /> 13 <br />
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