Orange County NC Website
will not conflict with or constitute, on the County ' s part, a violation of, breach of or default under any <br /> material statute, existing law, administrative regulation, filing, decree or order, state or federal , or any <br /> provision of the Constitution or laws of the State, or any rule or regulation of the County, or any material <br /> indenture, mortgage, lease, deed of trust, note, resolution, or other agreement or instrument to which the <br /> County, or its properties, are subject or by which the County, or its properties , are or may be bound or, to <br /> the knowledge of the County, any order, rule or regulation of any regulatory body or court having <br /> jurisdiction over the County or its activities or properties . <br /> (j ) The County is not in default in the payment of the principal of or interest on any <br /> of its indebtedness for borrowed money and is not in default in any material respect under any document <br /> or instrument under and subject to which any indebtedness for borrowed money has been incurred which <br /> default would affect materially and adversely the transactions contemplated by any of the County <br /> Documents . No event has occurred or is continuing under the provisions of any such document or <br /> instrument that, with the lapse of time or the giving of notice, or both, would constitute an event of default <br /> thereunder, which event of default would affect adversely the transactions contemplated by any of the <br /> County Documents . <br /> (k) The County is not in material breach of or in default under the Approving <br /> Resolution, any applicable law or administrative regulation of the State or the United States , or any <br /> applicable judgment or decree, or any loan agreement, note, resolution or other agreement or instrument to <br /> which the County is a party or is otherwise subject, which breach or default would in any way materially <br /> adversely affect the authorization or issuance of the Bonds and the transactions contemplated hereby, and <br /> no event has occurred and is continuing which, with the passage of time or the giving of notice or both, <br /> would constitute such a breach or default. <br /> (1) On and as of the Closing, all authorizations , consents , and approvals of, notices to , <br /> registrations or filings with, or actions in respect of any governmental body, agency, or other instrumentality <br /> or court required to be obtained, given, or taken on behalf of the County in connection with the execution, <br /> delivery and performance by the County of the County Documents , and any other agreement or instrument <br /> to which the County is a party and which has been or will be executed in connection with the consummation <br /> of the transactions contemplated by the foregoing documents , will have been obtained, given, or taken and <br /> will be in full force and effect. <br /> (m) Any certificate signed by an authorized officer of the County delivered to the <br /> Underwriters shall be deemed a representation and warranty by the County to the Underwriters as to the <br /> truth of the statements made therein. <br /> (n) The County has and will cooperate with the Underwriters and their counsel in any <br /> endeavor to qualify the Bonds for offering and sale under the securities or "Blue Sky" laws of such <br /> jurisdictions of the United States as the Underwriters may request; provided, however, that the County will <br /> not be required to execute a general or special consent to service of process or qualify to do business in <br /> connection with any qualification or determination in any jurisdiction. <br /> (o) The audited financial statements of the County for the period ended June 30 , 2023 , <br /> present fairly the County ' s financial condition as of such date and the results of its operations for the <br /> respective periods set forth therein and have been prepared in accordance with generally accepted <br /> accounting principles consistently applied. There has been no material change in the financial affairs of <br /> the County since June 30 , 2023 , except as disclosed specifically in the Official Statement. <br /> (p) If between the date of this Bond Purchase Agreement and the date 25 days after <br /> the " end of the underwriting period" for the Bonds , as defined in the Rule, any event occurs which might <br /> - 6- <br />