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9 <br />Notice of Public Hearing -- OranEe County Public Building Bonds <br />The Orange County Board of Conulussioners has called for a public <br />hearing at 7:30 p.m. on June 23, 2004, related to the following bond order. <br />Further information regarding the hearing appears at the end of this notice. <br />x x x x ~: k~ x x e::~ a: ~ x x :e •r.:: <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 Commissioners <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 such bonds without referendum <br />approval because the amount of the proposed bonds does not exceed two- <br />thirds of the amount by which the County will have reduced its outstanding <br />indebtedness in the 2003-04 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 Conunissioners 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 />