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Key Financing Terms <br /> 15 <br /> Limited Obligation Bonds, Series 2026A&B <br /> ➢ Security Pledge- County assets serve as collateral, with payments subject to annual County appropriations <br /> ➢ Maturity Term- 5-20 Year maturities matches the useful life of the assets <br /> ➢ April 1 and October 1 Repayment Dates to Bank Trustee; First Interest Payment on October 1, 2026, and First <br /> Principal Payment on April 1, 2028, consistent with the Debt Model <br /> ➢ Estimated Interest Rates- Between 4.5% - 5.5% subject to market conditions <br /> ➢ Maximum Annual Debt Service- Estimated to be $6.395 million in FY 2028 <br /> ➢ Source of Repayment- Property Taxes, Solid Waste Fees, Sportsplex Fees, and OGFD Repayment <br /> ➢ Because Limited Obligation Bonds are not secured by a direct pledge of the County's taxing power, they are <br /> usually rated one notch below the County's general obligation bonds <br /> ➢ Current Limited Obligation Bonds- Aa1/AA+/AA+ from Moody's, Standard & Poor's, and Fitch Ratings <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />