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25 <br /> 1 Bondholders generally require that the County offer collateral equal to at least 50% of the loan <br /> 2 amount (for example, at least $5 million of collateral for a $10 million loan). The County expects <br /> 3 to offer collateral with a value equal to at least 100% of the loan amount.The prospective collateral <br /> 4 package has an approximate value of$160.0 million. <br /> 5 <br /> 6 TARIFF ISSUE <br /> 7 The municipal bond market has experienced volatility due to rising concerns over new tariffs and <br /> 8 international trade tensions. These tariffs are causing uncertainty in the broader economy and <br /> 9 leading a few investors to re-evaluate their investment strategies. This has resulted in short-term <br /> 10 fluctuations in bond yields (interest rates). Staff is working with the County's financial advisors to <br /> 11 ensure the County remains well positioned for a successful June 2025 bond issuance. The <br /> 12 financing team will closely monitor this situation and will update accordingly if borrowing costs <br /> 13 become a material concern. Recent North Carolina bond financings appear to indicate a return to <br /> 14 stability. <br /> 15 <br /> 16 Gary Donaldson, Chief Financial Officer, made the following presentation: <br /> 17 <br /> 18 Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Series 2025Limited Obligation Bonds <br /> Spring Financing Resolution and Public Hearing <br /> Gary Donaldson,Chief Financial Officer <br /> May 6, 2025 <br /> 19 <br /> 20 <br /> 21 <br />