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4 <br /> Attachment l <br /> Proposed Bond Order for adoption <br /> Bond Order Authorizing the Issuance of Orange County General <br /> Obligation School Bonds in the Maximum Amount of <br /> $300,000,000, Subject To Voter Approval <br /> WHEREAS-- <br /> The Board of Commissioners of Orange County, North Carolina, has stated <br /> its proposal to issue general obligation bonds to pay capital costs of providing <br /> school facilities. <br /> The County has applied to the North Carolina Local Government <br /> Commission for its approval of such bonds, and the Commission has accepted <br /> the County's application. <br /> BE IT ORDERED by the Board of Commissioners of Orange County, North <br /> Carolina, as follows: <br /> 1. There are hereby ordered to be issued general obligation school <br /> bonds of the County to pay capital costs of providing school facilities, together <br /> with related financing and other necessary or incidental costs. <br /> 2. The maximum aggregate principal amount of the bonds issued for <br /> such purpose will be $300,000,000. <br /> 3. Taxes will be levied in an amount sufficient to pay the principal of <br /> and interest on the bonds so issued. <br /> 4. A sworn statement of debt prepared by the County's Finance <br /> Officer has been filed with the Clerk to this Board and is open to public <br /> inspection. <br /> 5. This Bond Order will take effect when approved by the County's <br /> voters in the manner provided by law. <br />