Orange County NC Website
38 <br /> EXHIBIT B - Definitions: Rules of Construction <br /> For all purposes of this Supplemental Agreement, unless the context requires <br /> otherwise, the following terms have the following meanings. <br /> "2023 Bonds" means the County's Limited Obligation Bonds, Series 2023, <br /> originally issued pursuant to the Prior Agreement and this Supplemental Agreement <br /> as (a) a $ Limited Obligation Bond, Series 2023A, and (b) a <br /> $ Limited Obligation Bond, Series 2023B. <br /> "2023A Interest Rate" means an annual interest rate equal to 3.73%, but <br /> means the Alternative Rate of Interest under the conditions described in Section <br /> 1.05 and during the continuation an Event of Default, "2023A Interest Rate" means <br /> the Default Rate. <br /> "2023B Interest Rate" means an annual interest rate equal to 3.83%, but <br /> means the Alternative Rate of Interest under the conditions described in Section <br /> 1.05 and during the continuation an Event of Default, "2023B Interest Rate" means <br /> the Default Rate. <br /> "2023 Proceeds Account" means the 2023 Proceeds Account established <br /> pursuant to Section 3.02. <br /> "2023 Project" means the following: <br /> (a) carrying out the planned acquisitions and improvements <br /> referenced in the Introduction to this Supplemental Agreement and specified <br /> in Exhibit A; <br /> (b) carrying out any additional public acquisitions and <br /> improvements as the County may designate to the Trustee in a City <br /> Certificate, subject to the restrictions in Exhibit A; and <br /> (c) paying Financing Costs related to the 2023 Bonds. <br /> "2023 Project Costs" means "Project Costs," as defined in the Prior <br /> Agreement, related to the 2023 Project. <br /> 20 <br />