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<br /> Orange County, North Carolina
<br /> Limited Obligation Bonds , Series 2025
<br /> INTRODUCTION
<br /> The purpose of this Official Statement, which includes the Appendices hereto, is to provide certain
<br /> information in connection with the Orange County, North Carolina Limited Obligation Bonds, Series 2025
<br /> in the aggregate principal amount of $ * (the "2025 Bonds") ,
<br /> The 2025 Bonds will be issued pursuant to a Trust Agreement dated as of June 1 , 2021 (the "2021
<br /> Trust Agreement"), as previously supplemented and as supplemented by a Third Supplemental Trust
<br /> Agreement (the "Third Supplemental Trust Agreement" and, together with the 2021 Trust Agreement, as
<br /> previously supplemented, the "Trust Agreement"), each between Orange County, North Carolina (the
<br /> "County") and The Bank of New York Mellon Trust Company, N .A . , as trustee (the "Trustee") .
<br /> Pursuant to the Trust Agreement, the County has previously issued its ( 1 ) $ 19,355 ,000 Limited
<br /> Obligation Bonds, Series 2021A (the "2021A Bonds"), of which $ 13 ,960, 000 in principal amount is
<br /> currently Outstanding, (2) $4,230, 000 Taxable Limited Obligation Refunding Bonds, Series 2021B (the
<br /> "202113 Bonds"), all of which have matured and are no longer Outstanding, (3 ) $5 , 080,000 Limited
<br /> Obligation Bonds, Series 2023A (the "2023A Bonds"), of which $ [ in principal amount is
<br /> currently Outstanding, (4) $9,218 , 000 Limited Obligation Bonds, Series 2023B (the "202313 Bonds"), of
<br /> which $ [ in principal amount is currently Outstanding, (5 ) $9, 800,000 Limited Obligation Bonds,
<br /> Series 2024A (the "2024A Bonds"), all of which remain Outstanding, and (6) $2, 080, 000 Taxable Limited
<br /> Obligation Bonds, Series 2024B (the "2024B Bonds" and, together with the 2021A Bonds, the 2023A
<br /> Bonds, the 2023B Bonds and the 2024A Bonds, the "Prior Bonds"), all of which remain Outstanding .
<br /> Capitalized terms used in this Official Statement, unless otherwise defined herein, have the
<br /> meanings set out in Appendix C hereto under the caption "DEFINITIONS . "
<br /> This Introduction provides only certain limited information with respect to the contents of this
<br /> Official Statement and is expressly qualified by the Official Statement as a whole . Prospective investors
<br /> should review the full Official Statement and each of the documents summarized or described herein . This
<br /> Official Statement speaks only as of its date, and the information contained herein is subject to change.
<br /> THE COUNTY
<br /> The County is a political subdivision of the State of North Carolina (the " State") . See Appendix A,
<br /> "THE COUNTY, " hereto for certain information regarding the County . The County ' s most recent audited
<br /> financial statements are contained in Appendix B hereto .
<br /> PURPOSE
<br /> The 2025 Bonds are being issued in order to ( 1 ) finance the acquisition, construction, equipping
<br /> and improvement of certain County facilities as further described herein and (2) finance certain costs
<br /> incurred in connection with the execution and delivery of the 2025 Bonds . See "THE PLAN OF
<br /> FINANCE" and "ESTIMATED SOURCES AND USES OF FUNDS" herein .
<br /> ' Preliminary, subject to change.
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