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51 <br /> Slide #4 <br /> Key Financing Term <br /> ➢ Securlty Pledge-County Assets serve as Collateral and subject to Annual County Approprlatlons <br /> Maturlty Term-7-20 Year maturltles matches the useful I Ife of the assets <br /> ➢ April 1 and October L Repayment Dates to Bank Trustee;First Interest Payment on October 1,2024 and First <br /> PrinclpaI Payment on October 1,2025,conslstentwlth the Debt Model <br /> A Estimated Interest Rates- Between 35%-4.5%subject to marloet conditions <br /> ➢ Serles 202411-Imlted Obllgatlon Bonds Maxlmum Annual DebtServlce estimated to be$2.33 mllllon In FY2026 <br /> A Source of Repayment-Property Taxes,Sal Id Waste Fees and Article 46 Sa Ies Tax <br /> i LIMIted Obllgatlon Bonds are Subordlnate Llen to AAA General Obllgatlon Bonds <br /> i Current Llmlted Obllgatlon Bonds-A@l/AAt/AA+from Moody'srStandard&Poor'sand Fitch Ratings <br /> ORANGE COUNTY <br /> NoR rH CAROLINA <br /> 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 of the collateral be equal to at <br /> least 50%of the financing amount (for example, at least 5 million of <br /> collateral for a 12 million loan.) <br /> 9 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 propgrty <br /> in the collateral pool, ORANG COUNTY <br /> OUNTY <br /> NORTH C:AROLINA <br />