Orange County NC Website
Browse       Search
Attachment 4 <br /> _ = PRELIMINARY OFFICIAL STATEMENT DATED MAY 2025 <br /> L 5 - <br /> j <br /> NEW ISSUE BOOK-ENTRY ONLY Ratings : Moody's8 [_] <br /> S&P : [_l <br /> •o Fitch : [_] <br /> [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 /> a 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 /> $ <br /> A <br /> i v ORANGE COUNTY, NORTH CAROLINA <br /> Q LIMITED OBLIGATION BONDS, SERIES 2025 <br /> � o <br /> z � <br /> N <br /> Dated : Date of Delivery Due: October 1 , as shown on the inside front cover <br /> 0 <br /> yThis Official Statement has been prepared by Orange County, North Carolina (the "County") to provide information on <br /> p , the 2025 Bonds described herein. Selected information is presented on this cover page for the convenience of the user. Investors <br /> oz must read the entire Official Statement to obtain information essential to the making of an informed investment decision. <br /> Security. The payment by the County of the principal of and interest on the 2025 Bonds is limited to <br /> y ` funds appropriated for that purpose by the Board of Commissioners for the County in its sole <br /> oy discretion, except to the extent payable from Bond proceeds, investment earnings, Net <br /> v ° Proceeds related to casualty or condemnation proceeds, or amounts derived from the <br /> s enforcement of remedies on default. <br /> V o a <br /> As security for the 2025 Bonds, the Prior Bonds and all other Bonds issued under the Trust <br /> LQ <br /> Agreement (as such terms are defined herein), the County has executed and delivered a deed <br /> ° z of trust, as amended, and will execute and deliver a supplement to such deed of trust, granting, <br /> t c among other things, a lien of record on the Mortgaged Property subject to Permitted <br /> Q Encumbrances (as such terms are defined herein). <br /> zap <br /> fid THE OBLIGATION TO MAKE PAYMENTS WITH RESPECT TO THE 2025 BONDS IS NOT A GENERAL <br /> 4 •r OBLIGATION OF THE COUNTY, AND THE TAXING POWER OF THE COUNTY IS NOT PLEDGED <br /> h DIRECTLY OR INDIRECTLY TO SECURE ANY MONIES DUE TO THE OWNERS OF THE 2025 BONDS. <br /> y y See the caption "SECURITY AND SOURCES OF PAYMENT OF 2025 BONDS" herein. <br /> 0 0 = Redemption: The 2025 Bonds are subject to redemption as described herein. <br /> v e Purpose: Proceeds of the 2025 Bonds will be used to ( 1 ) finance the acquisition, construction, equipping <br /> p o and improvement of certain County facilities as further described herein and (2) pay certain <br /> ecosts incurred in connection with the issuance of the 2025 Bonds. <br /> "o Interest Payment Dates, April 1 and October 1 of each year, commencing October 1 , 2025 <br /> 0 <br /> o Denomination: $5,000 or integral multiples thereof <br /> Z o ° Delivery: On or about June , 2025 <br /> (� U <br /> vbio <br /> Bond Counsel: Sanford Holshouser LLP <br /> Q � o <br /> .o County Attorney: John L. Roberts, Esq. <br /> .� Financial Advisor: Davenport & Company LLC <br /> Underwriters ' Counsel: McGuireWoods LLP <br /> .fi o Trustee, The Bank of New York Mellon Trust Company, N.A. <br /> Lr LZ <br /> 4 0 <br /> BAIRD <br /> a <br /> QRamirez & Co . , Inc. Siebert Williams Shank <br /> C ti <br /> 4 ° The date of this Official Statement is June 2025 . <br /> ma 's ; <br /> 'Preliminary, subject to change. <br />