Orange County NC Website
43 <br /> ARTICLE IV <br /> COUNTY'S UNDERTAKING FOR CONTINUING DISCLOSURE. <br /> The County undertakes, for the benefit of the beneficial owners of the 2025 <br /> Bonds, to provide the following items and information to the MSRB: <br /> (a) by not later than seven months from the end of each of the County's <br /> Fiscal Years, beginning with the Fiscal Year that ends June 30, 2025, audited County <br /> financial statements for such fiscal year, if available, prepared in accordance with <br /> Section 159-34 of the General Statutes of North Carolina, as it may be amended from <br /> time to time, or any successor statute, or, if such audited financial statements are <br /> not available by seven months from the end of any fiscal year, unaudited County <br /> financial statements for such fiscal year, to be replaced subsequently by audited <br /> County financial statements to be delivered within 15 days after such audited <br /> financial statements become available for distribution; <br /> (b) by not later than seven months from the end of each of the County's <br /> Fiscal Years, beginning with the Fiscal Year that ends June 30, 2025, the financial <br /> and statistical data as of a date not earlier than the end of the preceding fiscal year <br /> for the type of information included in Appendix A to the final Official Statement <br /> relating to the 2025 Bonds under the captions "THE COUNTY - DEBT <br /> INFORMATION" and "—TAX INFORMATION" (excluding any information on <br /> overlapping or underlying debt) to the extent such items are not included in the <br /> audited financial statements referred to in (a) above; <br /> (c) in a timely manner, not in excess of ten business days after the <br /> occurrence of the event, notice of any of the following events with respect to the <br /> 2025 Bonds: <br /> (1) principal and interest payment delinquencies; <br /> (2) non-payment related defaults, if material; <br /> (3) unscheduled draws on debt service reserves reflecting financial <br /> difficulties; <br /> 14 <br />