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3 <br />Bond Order for Introduction - <br />Public Building Bonds <br />BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL <br />OBLIGATION PUBLIC BUILDING BONDS IN THE MAXIMUM <br />AMOUNT OF $3,900,000 <br />WHEREAS-- <br />By resolution adopted on May 18, 2004, the Board of Conunissioners <br />of Orange County, North Carolina (the "County"), stated its proposal to <br />issue general obligation bonds to pay capital costs of providing public <br />buildings. <br />By law, the County may issue general obligation bonds for this <br />purpose without referendum approval in an amount up to two-thirds of the <br />amount by which the County will have reduced its outstanding indebtedness <br />in the ?00.3-04 fiscal year. <br />The County has applied to the North Carolina Local Government <br />Commission (the "LGC") for its approval of such bonds. The LGC has <br />accepted the County's application. <br />BE IT ORDERED by the Board of Commissioners of Orange <br />County, North Carolina, as follows: <br />1. There are hereby ordered to be issued general obligation bonds <br />of the County to pay capital costs of providing public. buildings, including <br />costs of acquisition, construction, renovation and other capital costs, <br />including the possible acquisition of land for public buildings, together <br />with related financing and other necessary or incidental costs. <br />2. The maximum aggregate principal amount of the bonds issued <br />for such purpose will be $3,900,000. <br />3. Taxes will be levied in an amount sufficient to pay the <br />principal of and interest on the bonds so issued. <br />