Orange County NC Website
7 . Finance Officer as Registrar; Payments to Registered Owners - - The <br /> Board appoints the Finance Officer as Registrar for the Bonds . As Registrar, the <br /> Finance Officer shall maintain appropriate books and records of the ownership of the <br /> Bonds . The County will treat the registered owner of each Bond as the person <br /> exclusively entitled to payment of principal and interest and the exercise of all rights <br /> and powers of the owner, except that the County will make payments to the person <br /> shown as owner on the registration books at the end of the calendar day on the 15th <br /> day of the month (whether or not a business day) preceding each interest payment <br /> date . <br /> 8 . Advertising Bonds for Sale - The Board directs the Finance Officer, in <br /> collaboration with the LGC , to take all proper steps to advertise the Bonds for sale in <br /> accordance with standard LGC procedures , including through the use of a " Notice of <br /> Sale " document in the LGC ' s customary form and in substantially the same form as <br /> used for prior County bond sales . The Board directs the Finance Officer to review and <br /> approve a form of Notice of Sale as that officer may determine to be in the County ' s <br /> best interest. <br /> 9 . LGC To Sell Bonds - - The County asks the LGC to sell the Bonds , to <br /> receive and evaluate bids and to award the Bonds based on the best bid received . <br /> 10 . Completing Official Statement after Sale - After the LGC has received <br /> bids and awarded the Bonds to the successful bidder, the Board directs the Finance <br /> Officer, in collaboration with the LGC , to prepare a final Official Statement within the <br /> meaning of Rule 15c242 . The Board authorizes the Finance Officer to approve the <br /> final document as a final Official Statement. The County, together with the LGC , will <br /> arrange for the delivery within seven business days of the sale date of a reasonable <br /> number of copies of the final Official Statement to the successful bidder on the Bonds <br /> for delivery to each potential investor requesting a copy of the final Official Statement <br /> and to each entity to which the bidder and members of the bidding group initially sell <br /> the Bonds . <br /> 11 . County Officers To Complete Closing - The Board authorizes the <br /> County Manager, the Finance Officer and all other County officers and employees to <br />