Orange County NC Website
77 <br /> Additional information and copies in reasonable quantity of the principal financing documents may <br /> be obtained from the County at 131 West Margaret Lane, Third Floor, PO Box 8181, Hillsborough,North <br /> Carolina 27278,Attention: Chief Financial Officer. Copies of such documents can also be obtained during <br /> the offering period from Robert W.Baird&Co.Incorporated at 380 Knollwood Street, Suite 440,Winston- <br /> Salem,North Carolina 27103. After the offering period, copies of such documents may be obtained from <br /> the Trustee at 4655 Salisbury Road, Suite 300,Jacksonville,Florida 32256. <br /> THE 2026A BONDS <br /> AUTHORIZATION <br /> The County is issuing the 2026A Bonds pursuant to the provisions of Section 20 of Chapter 160A <br /> of the North Carolina General Statutes and Article 8 of Chapter 159 of the North Carolina General Statutes, <br /> each as amended(collectively, the "Act"), and a resolution of the Board of Commissioners of the County <br /> adopted on May 19, 2026. Each 2026A Bond will be deemed an"installment contract"under the Act. <br /> In addition, the County's issuance of the 2026A Bonds is expected to be approved by the North <br /> Carolina Local Government Commission(the"LGC")on June 9, 2026. The LGC is a division of the State <br /> Treasurer's office charged with general oversight of local government finance in the State of North Carolina <br /> (the "State"). LGC approval is required for substantially all bond issues and other local government <br /> financing arrangements in the State. Before approving an installment financing (which includes the <br /> financing arrangement for the 2026A Bonds), the LGC must determine, among other things, that (1) the <br /> proposed financing is necessary and expedient, (2)the financing,under the circumstances, is preferable to <br /> a general obligation or revenue bond issue for the same purpose, and (3) the sums to fall due under the <br /> proposed financing are not excessive for the local government. <br /> GENERAL <br /> Payment Terms. The 2026A Bonds will be dated their date of delivery. Interest on the 2026A <br /> Bonds is payable on each April 1 and October 1 (the "Payment Dates"),beginning October 1,2026, at the <br /> rates set forth on the inside front cover page of this Official Statement(calculated on the basis of a 360-day <br /> year consisting of twelve 30-day months). Interest payments will be made to the person shown as the owner <br /> of the 2026A Bond as of the applicable Record Date. "Record Date"means the end of the calendar day on <br /> the 15th day of the month (whether or not a Business Day) preceding a Payment Date. Principal on the <br /> 2026A Bonds is payable on April 1 in the years and amounts set forth on the inside front cover page of this <br /> Official Statement. Payments will be effected through DTC. See Appendix E, "BOOK-ENTRY ONLY <br /> SYSTEM"hereto. <br /> Registration and Exchange. So long as DTC or its nominee is the registered owner of the 2026A <br /> Bonds,transfers and exchanges of beneficial ownership interests in the 2026A Bonds will be available only <br /> through DTC Participants and DTC Indirect Participants. See Appendix E, "BOOK-ENTRY ONLY <br /> SYSTEM" hereto. The Trust Agreement describes provisions for transfer and exchange applicable if a <br /> book-entry system is no longer in effect. These provisions generally provide that the transfer of the 2026A <br /> Bonds is registrable by the Owners thereof,and the 2026A Bonds may be exchanged for an equal aggregate, <br /> unredeemed principal amount of 2026A Bonds of the authorized denomination and of the same maturity <br /> and interest rate, only upon presentation and surrender of the 2026A Bonds to the Trustee at the principal <br /> corporate trust office of the Trustee together with an executed instrument of transfer in a form approved by <br /> the Trustee in connection with any transfer. The Trustee may require the person requesting any transfer or <br /> exchange to reimburse it for any shipping and tax or other governmental charge payable in connection <br /> therewith. <br /> 4 <br />