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Attachment 4 66 <br /> y PRELIMINARY OFFICIAL STATEMENT DATED MAY 2025 <br /> � NEW ISSUE BOOK-ENTRY ONLY Ratings:Moody's: [� <br /> .N S&P: �] <br /> 2 2 Grj ,o Fitch: �] <br /> •U <br /> F [In the opinion of Bond Counsel and subject to the qualifications described in this Official Statement, interest on the <br /> 2025 Bonds is not includable in gross income for federal income tax purposes, and interest on the 2025 Bonds offered hereby is <br /> c exempt from current State of North Carolina income taxes.See "TAX TREATMENT"herein for additional information regarding <br /> tax consequences arising from ownership or receipt of interest on the 2025 Bonds.][Bond Counsel to review language.] <br /> si �a <br /> ORANGE COUNTY,NORTH CAROLINA <br /> �r LIMITED OBLIGATION BONDS,SERIES 2025 <br /> � o <br /> W o <br /> N <br /> 0 <br /> wDated:Date of Delivery Due: October 1,as shown on the inside front cover <br /> 0 <br /> �e This Official Statement has been prepared by Orange County,North Carolina(the"County")to provide information on <br /> " the 2025 Bonds described herein. Selected information is resented on this cover page for the convenience of the user. Investors <br /> p � p p g <br /> OA must read the entire Official Statement to obtain information essential to the making of an informed investment decision. <br /> WSecurity: The payment by the County of the principal of and interest on the 2025 Bonds is limited to <br /> a ti funds appropriated for that purpose by the Board of Commissioners for the County in its sole <br /> discretion, except to the extent payable from Bond proceeds, investment earnings, Net <br /> U Proceeds related to casualty or condemnation proceeds, or amounts derived from the <br /> o enforcement of remedies on default. <br /> U As security for the 2025 Bonds,the Prior Bonds and all other Bonds issued under the Trust <br /> .� Agreement(as such terms are defined herein),the County has executed and delivered a deed <br /> r of trust,as amended,and will execute and deliver a supplement to such deed of trust,granting, <br /> o among other things, a lien of record on the Mortgaged Property subject to Permitted <br /> Encumbrances(as such terms are defined herein). <br /> ~ o THE OBLIGATION TO MAKE PAYMENTS WITH RESPECT TO THE 2025 BONDS IS NOT A GENERAL <br /> x •° 'Z OBLIGATION OF THE COUNTY,AND THE TAXING POWER OF THE COUNTY IS NOT PLEDGED <br /> q 5 DIRECTLY OR INDIRECTLY TO SECURE ANY MONIES DUE TO THE OWNERS OF THE 2025 BONDS. <br /> o See the caption"SECURITY AND SOURCES OF PAYMENT OF 2025 BONDS"herein. <br /> 2 Redemption: The 2025 Bonds are subject to redemption as described herein. <br /> O o Purpose: Proceeds of the 2025 Bonds will be used to(1)finance the acquisition,construction,equipping <br /> oand improvement of certain County facilities as further described herein and(2)pay certain <br /> h ti costs incurred in connection with the issuance of the 2025 Bonds. <br /> 7� o <br /> a Interest Payment Dates: April 1 and October 1 of each year,commencing October 1,2025 <br /> 0 <br /> w o Denomination: $5,000 or integral multiples thereof <br /> o Delivery: On or about June 2025 <br /> 2 Bond Counsel: Sanford Holshouser LLP <br /> � � o <br /> c o a County Attorney: John L.Roberts,Esq. <br /> W ti <br /> Financial Advisor: Davenport&Company LLC <br /> O Underwriters'Counsel: McGuireWoods LLP <br /> • o Trustee: The Bank of New York Mellon Trust Company,N.A. <br /> o <br /> ti BAIRD <br /> ' Ramirez & Co., Inc. Siebert Williams Shank <br /> a The date of this Official Statement is June 2025. <br /> � s <br /> U <br /> Cr U O <br /> "Preliminary,subject to change. <br />