Orange County NC Website
Browse       Search
amounts to the Trustee for deposit in the Payment Fund, The Trustee will then <br /> apply those moneys to Bond payments as directed by a County Representative. In <br /> the absence of any direction from the County, the Trustee will deposit those moneys <br /> in the Interest Account and use them to pay interest on the 2022 Bonds as the same <br /> becomes due. <br /> Section 3.04. Use of Funds and Accounts from 2018 Agreement. The <br /> Trustee is to maintain and administer the Bond Payment Fund (and its principal and <br /> interest accounts) and the Net Proceeds Fund established under the 2018 <br /> Agreement to the same effect and purpose as provided in the 2018 Agreement with <br /> respect to the 2022 Bonds as to the 2018 Bonds and all Bonds generally. <br /> ARTICLE IV <br /> OTHER MODIFIED TERMS <br /> Section 4.01. Financial Information to Lender. The County will send to the <br /> Lender a copy of the County's audited financial statements for each Fiscal Year within <br /> 30 days of the County's acceptance of the statements, but in any event within 270 days <br /> of the completion of each Fiscal Year. The County will send to the Lender a copy of the <br /> County's adopted budget ordinance within 30 days after its adoption by the County <br /> Board. The County shall also furnish the Lender, at such reasonable times as the <br /> Lender may request, all other financial information (including, without limitation, <br /> the County's annual budget as submitted or approved) as the Lender may <br /> reasonably request. The County shall permit the Lender or its agents and <br /> representatives to inspect the County's books and records and make extracts <br /> therefrom. <br /> Section 4.02. Amendments Require Lender's Consent. This Supplemental <br /> Agreement may only be amended by a writing signed by the Lender. Otherwise, the <br /> provisions of the Trust Agreement concerning the amendment of the Trust <br /> Agreement apply, <br /> Section 4.03 Permission To Use Information. The County agrees and <br /> consents that the Lender may use information related to the 2022 Bonds in <br /> connection with marketing, press releases or other transactional announcements or <br /> 10 <br />