Orange County NC Website
Exhibit B -- Undertaking for Continuing Disclosure <br /> The County undertakes, for the benefit of the beneficial owners of the Bonds, <br /> to provide the following items and information to the Municipal Securities <br /> Rulemaking Board (the "MSRB"): <br /> (a) by not later than seven months from the end of each of the County's fiscal <br /> years, beginning with the year ending June 30, 2021, audited County financial <br /> statements for such fiscal year, if available, prepared in accordance with Section 159- <br /> 34 of the General Statutes of North Carolina, as it may be amended from time to time, <br /> or any successor statute, or, if such audited financial statements are not available by <br /> seven months from the end of any fiscal year, unaudited County financial statements <br /> for such fiscal year, to be replaced subsequently by audited County financial <br /> statements to be delivered within 1S days after such audited financial statements <br /> become available for distribution; <br /> (b) by not later than seven months from the end of each of the County's fiscal <br /> years, beginning with the year ending June 30, 2021, (i) the financial and statistical <br /> data as of a date not earlier than the end of the preceding fiscal year (which data will <br /> be prepared at least annually, will specify the date as to which such information was <br /> prepared and will be delivered with any subsequent material events notices specified <br /> in subparagraph (c) below) for the type of information included under heading "The <br /> County - Debt Information" and "- Tax Information" in the final Official Statement <br /> (excluding any information on overlapping or underlying units), and (ii) the <br /> combined budget of the County for the current fiscal year, to the extent such items <br /> are not included in the audited financial statements referred to in (a) above; <br /> (c) in a timely manner, not in excess of ten business days after the <br /> occurrence of the event notice of any of the following events with respect to the <br /> Bonds: <br /> (1) principal and interest payment delinquencies; <br /> (2) non-payment related defaults; <br /> 14 <br />