Orange County NC Website
A " Restricted Yield " means a "yield, " within the meaning of Treas . Regs . Secs . <br /> 1 . 10343 (c), 43 ( d) , 1 . 148 - 9T (a) , or any successor or other provision that may be <br /> applicable, not in excess of the "yield " on the 2025 Bonds, which does not exceed <br /> 33220 % <br /> ARTICLE IV <br /> COUNTY' S UNDERTAKING FOR CONTINUING DISCLOSURE . <br /> The County undertakes, for the benefit of the beneficial owners of the 2025 <br /> Bonds, to provide the following items and information to the MSRB : <br /> (a) by not later than seven months from the end of each of the County' s <br /> Fiscal Years, beginning with the Fiscal Year that ends June 30, 2025 , audited County <br /> financial statements for such fiscal year, if available, prepared in accordance with <br /> Section 159 - 34 of the General Statutes of North Carolina, as it may be amended from <br /> time to time, or any successor statute, or, if such audited financial statements are <br /> not available by seven months from the end of any fiscal year, unaudited County <br /> financial statements for such fiscal year, to be replaced subsequently by audited <br /> County financial statements to be delivered within 15 days after such audited <br /> financial statements become available for distribution , <br /> (b) by not later than seven months from the end of each of the County' s <br /> Fiscal Years, beginning with the Fiscal Year that ends June 30 , 2025 , the financial <br /> Of I <br /> and statistical data as of a date not earlier than the end of the preceding fiscal year <br /> for the type of information included in Appendix A to the final Official Statement <br /> relating to the 2025 Bonds under the captions "THE COUNTY - DEBT <br /> INFORMATION " and "— TAX INFORMATION " (excluding any information on <br /> overlapping or underlying debt) to the extent such items are not included in the <br /> audited financial statements referred to in (a) above ; <br /> ( c) in a timely manner, not in excess of ten business days after the <br /> occurrence of the event, notice of any of the following events with respect to the <br /> 2025 Bonds . <br /> ( 1 ) principal and interest payment delinquencies ; <br /> 13 <br />