OTHER-2025-035-Orange County North Carolina limited obligation bonds series 2025

Browse Search

payment of the 2025 Bonds . The effect of the other provisions of the United States Bankruptcy Code on the rights and remedies of the holders of the 2025 Bonds cannot be predicted and may be affected significantly by judicial interpretation, general principles of equity (regardless of whether considered in a proceeding in equity or at law) and considerations of public policy . CYBERSECURITY The County, like many other large public and private entities , relies on a large and complex technology environment to conduct its operations , and faces multiple cybersecurity threats including, but not limited to , hacking, phishing, viruses , malware and other attacks on its computing and other digital networks and systems (collectively, " Systems Technology") . As a recipient and provider of personal, private, or sensitive information , the County may be the target of cybersecurity incidents that could result in adverse consequences to the County and its Systems Technology, requiring a response action to mitigate the consequences . Cybersecurity incidents could result from unintentional events, or from deliberate attacks by unauthorized entities or individuals attempting to gain access to the County ' s System Technology for the purposes of misappropriating assets or information or causing operational disruption and damage . To mitigate the risk of business operations impact and/or damage from cybersecurity incidents or cyber- attacks , the County invests in multiple forms of cybersecurity and operational safeguards . i While the County ' s cybersecurity and operational safeguards are periodically tested , no assurances can be given by the County that such measures will ensure against other cybersecurity threats and attacks . Cybersecurity breaches could cause material disruption to the County ' s finances or operations . The costs of remedying any such damage or protecting against future attacks could be substantial . Further, cybersecurity breaches could expose the County to material litigation and other legal risks, which could cause the County to incur material costs related to such legal claims or proceedings . f CLIMATE CHANGE The County is susceptible to the effects of extreme weather events and natural disasters , including floods , droughts and hurricanes , and has experienced severe weather events in the past . These effects may be amplified by a prolonged global temperature increase over the next several decades (commonly referred to as "climate change") . No assurances can be given that a future extreme weather event driven by climate change will not adversely affect the operations of the County . THE COUNTY GENERAL The County is located in the north-central portion of the State . The Town of Chapel Hill is the largest municipality in the County and is the home of The University of North Carolina at Chapel Hill . See Appendix A for a description of the County . FINANCIAL INFORMATION The financial statements of the County have been audited by certified public accountants for the fiscal year ended June 30 , 2024 . Excerpts from the financial statements of the County for the fiscal year ended June 30 , 2024 are available in Appendix B hereto . Copies of the complete financial statements containing the unqualified report of the independent certified public accountants are available in the office I 16 i I