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LOB Collateral Overview 17 <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 50% of the financing amount (for example, at least $5 million of <br /> collateral for a $10 million loan .) <br /> ➢ 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 /> ➢ 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 /> NORTH CAROLINA <br />