Orange County NC Website
Browse       Search
19 <br /> 1 Slide#4 <br /> Key Financing Terms <br /> i Securlty Pledge-County Assets serve as Collateral and subject to Annual County Appropriations <br /> r Maturlty Term-7-20 Year maturities matches the useful Ilfe of the assets <br /> April land October t Repayment Oates to Bank Trustee;First Interest Payment on October 1,2024 anti First <br /> Principal Payment on Dctoher lr 2025r conslstent with the Oebt Model <br /> i Estl mated InterestRates- Between 2.5%-4.5%subjecttomarketconditIons <br /> Y Series 2024 LImlted Obligation Bonds Maxlmum Annual OebtService estimated tobe$2.33 million In FY2026 <br /> l Source of Repayment-Property Taxes and Solld Waste Fees <br /> Y LImlted Obllgatlon Bonds are Subordinate Lien to AAA General Obligation Bonds <br /> Current Llmlted Dbllgatlon Bonds-Aa1/AA+/AA+from Moody%Standard&Poor'sand Fitch Ratings <br /> ORANGE COUNTY <br /> NOKI-i-I Cr1ROLINA <br /> 2 <br /> 3 <br /> 4 Slide#5 <br /> LOB Collateral Overview <br /> Security Pledge-County Assets serve as Collateral and subject to Annual <br /> County Appropriations <br /> )ii� Lenders generally require that the value ofthe collateral be equal to at <br /> least 50%of the financing amount (for example, at least$10 million of <br /> collateral for a$20 million loan.) <br /> )i� The Whitted Building, orange County Library in Hillsborough and a <br /> variety of schools serves as the collateral which far exceeds the lender's <br /> requirements. <br /> �1, Pursuant to the County's financing document, the County can continue <br /> to borrow money against this same collateral pool as longs as a <br /> meaningful portion of the amount financed is used to improve property <br /> in the collateral pool. <br /> ORANGE COUNTY <br /> NOICI-H CAROLINA <br /> 5 <br /> 6 Commissioner Portie-Ascott asked which school buildings are included as collateral. <br />