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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
Date
5/18/2021
Meeting Type
Business
Document Type
Agenda
Agenda Item
8-e
Document Relationships
OTHER-2021-021 Deed of Trust and Security Agreement
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2021
OTHER-2021-022 Trust Agreement
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Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2021
OTHER-2021-023 Escrow Agreement
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\Board of County Commissioners\Various Documents\2020 - 2029\2021
OTHER-2021-024 Lease Modification
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Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2021
OTHER-2021-025 Orange County, NC Limited Obligation Bonds
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Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2021
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61 <br /> consistent with Rule 15c2-12 of the Securities and Exchange Commission <br /> promulgated under the Securities Exchange Act of 1934, as amended. <br /> As used above, the "final Official Statement" means the Official Statement <br /> dated June , 2021, that the County has approved and authorized for use in <br /> connection with the offering and sale of the 2021 Bonds. <br /> For the purposes of the events identified in subparagraph (c)(12) above, the <br /> event is considered to occur when any of the following occurs: the appointment of a <br /> receiver, fiscal agent or similar officer for an Obligated Person in a proceeding under <br /> the U.S. Bankruptcy Code or in any other proceeding under state or federal law in <br /> which a court or governmental authority has assumed jurisdiction over <br /> substantially all of the assets or business of the Obligated Person, or if such <br /> jurisdiction has been assumed by leaving the existing governing body and officials <br /> or officers in possession but subject to the supervision and orders of a court or <br /> governmental authority, or the entry of an order confirming a plan of <br /> reorganization, arrangement or liquidation by a court or governmental authority <br /> having supervision or jurisdiction over substantially all of the assets or business of <br /> the Obligated Person. <br /> If the County fails to comply with the undertaking described above, the <br /> Trustee may take action to protect and enforce the rights of all the beneficial owners <br /> of the 2021 Bonds with respect to such undertaking, including an action for specific <br /> performance; provided, however, that failure to comply with such undertaking will <br /> not be an Event of Default and will not result in any acceleration of payment of the <br /> 2021 Bonds. All actions will be instituted, had and maintained in the manner <br /> provided in this paragraph for the benefit of all beneficial owners of the 2021 Bonds. <br /> The County must provide the documents and other information referred to <br /> above to the MSRB in an electronic format as prescribed by the MSRB and <br /> accompanied by identifying information as prescribed by the MSRB. <br /> The County may discharge its undertaking as set forth in this Section by <br /> providing such information in any manner that the United States Securities and <br /> Exchange Commission subsequently authorizes in lieu of the manner described <br /> above. <br /> 30 <br />
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