Orange County NC Website
Browse       Search
51 <br /> 1 Slide#4 <br /> Key Financing Term <br /> Securlty Pledge-County Assets serve as Collateral and subject to Annual County Appropriations <br /> i Maturity Term-7-20 Year maturltles matches the useful I Ifa of the assets <br /> 50 April 1 and October L Repayment Oates to Bank Trustee;First Interest Payment on Oetober 1,2024 and First <br /> PrinclpaI Payment on Oooher 2,2025,consistent with the debt Model <br /> i Estimated Interest Rates- Between 3.5%-4.5%subject to market condltlons <br /> i Serles 2024 Limited Obllgatlon Bonds Maxlmum Annual Oebt Service estimated to be$2.33 mllllon In FY 2026 <br /> i Source of Repayment-Property Taxes,Solid Waste Fees and Article 4b Sales Tax <br /> 50 Llmlted Ohllgatlon Bonds are Subordinate Llen to AAA General OlrllgatIon Bonds <br /> Current Llmlted Obllgatlon Bonds-Aa1/AA+/AA+from Moody's,Standard&Poor'sand Fitch Ratings <br /> ORANGE COUNTY <br /> [FORTH CAROL INA <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 /> Lenders generally require that the value of the collateral be equal to at <br /> least 5D%of the financing amount (for example, at least$5 million of <br /> collateral for a$12 million loan.) <br /> The Whitted Building, Orange County Library in Hillsborough, Culbreth <br /> Middle School , Ephesus Elementary, Hillsborough Elementary, New <br /> Hope Elementary and Orange Middle School asthe collateral which far <br /> exceeds the lender's requirements. <br /> Pursuant tothe 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 prap; g <br /> in the collateral pool. ORANGE COUNTY <br /> INORTH€:AAOL.LNA <br /> 5 <br />