Orange County NC Website
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Orange High School. Orange High School is a - story building consisting of approximately <br /> square feet on an approximately _- acre site located at 500 Orange High School Road in <br /> Hillsborough, North Carolina . The County estimates the insured value of this building (not including the <br /> equipment associated with the building, which is generally not part of the Mortgaged Property) to be <br /> approximately [$ 43 . 2 million] . <br /> Ephesus Elementary School. Ephesus Elementary School is a - story building consisting of <br /> approximately square feet on an approximately _- acre site located at 1495 Ephesus Church <br /> Road in Chapel Hill, North Carolina . A portion of the proceeds of the 2024A Bonds will be used to make <br /> certain improvements to Ephesus Elementary School, including installation of playground equipment and <br /> upgrades and cafeteria furniture . The County estimates the insured value of this building (not including the <br /> equipment associated with the building, which is generally not part of the Mortgaged Property) to be <br /> approximately [$ 11 . 7 million] . <br /> NO OTHER FACILITY OR IMPROVEMENT FINANCED WITH THE 2024 BONDS <br /> WILL BE INCLUDED AS PART OF THE MORTGAGED PROPERTY. <br /> The Trust Agreement and the Modified Deed of Trust generally allow the County to direct the <br /> release of any portion of the Mortgaged Property, in the County ' s discretion, so long as the taxable, <br /> appraised or insured value of the property remaining subject to the lien of the Modified Deed of Trust <br /> following such release is at least equal to 50 % of the principal amount of the Outstanding Bonds . See <br /> "THE DEED OF TRUST No Transfers ; Releases ; Grants of Easements" in Appendix C hereto . <br /> ESTIMATED SOURCES AND USES OF FUNDS <br /> The County estimates the sources and uses of funds for the plan of finance to be as follows : <br /> SOURCES : <br /> Par Amount of the 2024 Bonds <br /> Net Original Issue Premium/Discount <br /> TOTAL SOURCES OF FUNDS <br /> USES : <br /> Deposit to Project Fund <br /> Costs of Issuances <br /> TOTAL USES OF FUNDS <br /> s Includes legal fees, underwriters ' compensation, financial advisor fees, rating agency fees, fees and expenses of the Trustee and <br /> miscellaneous fees and expenses . <br /> 12 <br />