Agenda 05-21-24; 6-b - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various Capital Investment Plan Projects

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76 Appendix C, do not purport to be complete. Reference is made to such documents for full and complete statements of their respective provisions. Additional information and copies in reasonable quantity of the principal financing documents may be obtained from the County at 131 West Margaret Lane, Third Floor,PO Box 8181, Hillsborough,North Carolina 27278,Attention: Chief Financial Officer. Copies of such documents can also be obtained during the offering period from Robert W.Baird&Co.Incorporated at 380 Knollwood Street,Suite 440,Winston- Salem,North Carolina 27103 or FHN Financial Capital Markets at 1000 Ridgeway Loop Road, Suite 200, Memphis, Tennessee 38120. After the offering period, copies of such documents may be obtained from the Trustee at 4655 Salisbury Road, Suite 300,Jacksonville,Florida 32256. THE 2024 BONDS AUTHORIZATION The County is issuing the 2024 Bonds pursuant to the provisions of Section 20 of Chapter 160A of the North Carolina General Statutes and Article 8 of Chapter 159 of the North Carolina General Statutes, each as amended(collectively, the "Act"), and a resolution of the Board of Commissioners of the County adopted on May 21,2024. Each 2024 Bond will be deemed an"installment contract"under the Act. In addition, the County's issuance of the 2024 Bonds was approved by the North Carolina Local Government Commission (the "LGC") on June 4, 2024. The LGC is a division of the State Treasurer's office charged with general oversight of local government finance in the State of North Carolina (the "State"). LGC approval is required for substantially all bond issues and other local government financing arrangements in the State. Before approving an installment financing (which includes the financing arrangement for the 2024 Bonds), the LGC must determine, among other things, that (1) the proposed financing is necessary and expedient, (2)the financing,under the circumstances, is preferable to a general obligation or revenue bond issue for the same purpose, and (3) the sums to fall due under the proposed financing are not excessive for the local government. GENERAL Payment Terms. The 2024 Bonds will be dated their date of delivery. Interest on the 2024 Bonds is payable on each April 1 and October 1 (the "Payment Dates"), beginning October 1, 2024, at the rates set forth on the inside front cover page of this Official Statement(calculated on the basis of a 360-day year consisting of twelve 30-day months). Interest payments will be made to the person shown as the owner of the 2024 Bond as of the applicable Record Date. "Record Date"means the end of the calendar day on the 15th day of the month(whether or not a Business Day)preceding a Payment Date. Principal on the 2024 Bonds is payable on October 1 in the years and amounts set forth on the inside front cover page of this Official Statement. Payments will be effected through DTC. See Appendix E, "BOOK-ENTRY ONLY SYSTEM"hereto. Registration and Exchange. So long as DTC or its nominee is the registered owner of the 2024 Bonds,transfers and exchanges of beneficial ownership interests in the 2024 Bonds will be available only through DTC Participants and DTC Indirect Participants. See Appendix E, "BOOK-ENTRY ONLY SYSTEM" hereto. The Trust Agreement describes provisions for transfer and exchange applicable if a book-entry system is no longer in effect. These provisions generally provide that the transfer of the 2024 Bonds is registrable by the Owners thereof, and the 2024 Bonds may be exchanged for an equal aggregate, unredeemed principal amount of 2024 Bonds of the authorized denomination and of the same maturity and interest rate, only upon presentation and surrender of the 2024 Bonds to the Trustee at the principal corporate trust office of the Trustee together with an executed instrument of transfer in a form approved by 4