Orange County NC Website
Browse       Search
68 <br /> Attachment 4 <br /> PRELIMINARY OFFICIAL STATEMENT DATED JUNE_,2026 <br /> �x <br /> � NEW ISSUE BOOK-ENTRY ONLY Ratings:Moody's: [_] <br /> S&P: [_] <br /> :o Fitch: [_] <br /> U In the opinion o Bond Counsel and subject to thequalifications described in this Official Statement, interest on the <br /> h � P� f .I ff <br /> 2026A Bonds is not included in gross income for federal income tax purposes, and interest on the 2026A Bonds is exempt from <br /> c State of North Carolina income taxes.See the section "TAX TREATMENT"in this Official Statement for additional information <br /> regarding tax consequences arising from ownership of, or receipt of interest on, the 2026A Bonds. <br /> 2 <br /> ORANGE COUNTY,NORTH CAROLINA <br /> LIMITED OBLIGATION BONDS, SERIES 2026A <br /> "It cats' <br /> w N <br /> WN <br /> w Dated:Date of Delivery Due: April 1,as shown on the inside front cover <br /> This Official Statement has been prepared by Orange County,North Carolina(the"County")to provide information on <br /> ° the 2026A Bonds described herein. Selected information is presented on this cover page for the convenience of the user. Investors <br /> must read the entire Official Statement to obtain information essential to the making of an informed investment decision. <br /> O� <br /> W o Security: The payment by the County of the principal of and interest on the 2026A Bonds is limited to <br /> funds appropriated for that purpose by the Board of Commissioners for the County in its sole <br /> y discretion, except to the extent payable from Bond proceeds, investment earnings, Net <br /> U Proceeds related to casualty or condemnation proceeds, or amounts derived from the <br /> w . enforcement of remedies on default. <br /> U As security for the 2026A Bonds,the Prior Bonds and all other Bonds issued under the Trust <br /> Agreement(as such terms are defined herein),the County has executed and delivered a deed <br /> o _21 of trust,as amended,and will execute and deliver a supplement to such deed of trust,granting, <br /> o among other things, a lien of record on the Mortgaged Property subject to Permitted <br /> o Encumbrances(as such terms are defined herein). <br /> o THE OBLIGATION TO MAKE PAYMENTS WITH RESPECT TO THE 2026A BONDS IS NOT A <br /> o GENERAL OBLIGATION OF THE COUNTY,AND THE TAXING POWER OF THE COUNTY IS NOT <br /> PLEDGED DIRECTLY OR INDIRECTLY TO SECURE ANY MONIES DUE TO THE OWNERS OF THE <br /> .o 2026A BONDS. See the caption"SECURITY AND SOURCES OF PAYMENT OF 2026A <br /> BONDS"herein. <br /> Uo Redemption: The 2026A Bonds are subject to redemption as described herein. <br /> Oo Purpose: Proceeds of the 2026A Bonds will be used to (1) finance the acquisition, construction, <br /> E~ equipping and improvement of certain County facilities as further described herein and(2)pay <br /> Q certain costs incurred in connection with the issuance of the 2026A Bonds. <br /> Q o <br /> o Interest Payment Dates: April 1 and October 1 of each year,commencing October 1,2026 <br /> ti N o <br /> Denomination: $5,000 or integral multiples thereof <br /> q o° Delivery: On or about June_,2026 <br /> ° Bond Counsel: Sanford Holshouser PLLC <br /> w ti a County Attorney: John L.Roberts,Esq. <br /> oFinancial Advisor: Davenport&Company LLC <br /> Underwriters'Counsel: McGuireWoods LLP <br /> .E Trustee: The Bank of New York Mellon Trust Company,N.A. <br /> O 5 � <br /> 5 o BAIRD Hilltop Securities <br /> . The date of this Official Statement is June 2026. <br /> Y � <br /> � U O <br /> Preliminary,subject to change. <br />