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refunding bonds and to use the proceeds thereof, together with any other funds necessary, to
<br />advance refund all or a portion of each maturity of the County's outstanding School Bonds,
<br />Series 2005, dated March 1, 2005 and Public Improvement Bonds, Series 2006, dated September
<br />1, 2006 (collectively, the "Bonds To Be Refunded ").
<br />(c) That the prospective Bonds To Be Refunded financed, together with any other funds
<br />necessary, various public school and other public facilities of the County.
<br />(d) That the shortest period of time in which the Bonds To Be Refunded can be finally
<br />paid without making it unduly burdensome on the taxpayers of the County, as determined by the
<br />Local Government Commission of North Carolina, is a period which expires not later than
<br />December 31, 2043.
<br />Section 2. Pursuant to the 2013 Order there shall be issued bonds of the County in an
<br />aggregate principal amount of $62,390,000, with such amount subject to adjustment as
<br />hereinafter set forth, designated "General Obligation Refunding Bonds, Series 2013" and dated
<br />their date of delivery, or such other date as may be designated by the County Manager or Finance
<br />Director (the "Series 2013 Bonds "). The Chairman or Vice - Chairman of the Board, the County
<br />Manager or the Finance Director, respectively, each acting on behalf of the County, may increase
<br />or decrease the aggregate principal amount of the Series 2013 Bonds by any amount, so long as
<br />such amount shall not exceed $95,580,000, as determined to be in the best interest of the County,
<br />and may make any such increase or decrease either before or after the bids are opened. The
<br />Series 2013 Bonds shall be stated to mature (subject to adjustment as hereinafter set forth)
<br />annually, March 1 (or such other date designated in accordance with the immediately preceding
<br />sentence), $170,000 2014, $2,100,000 2016, $3,970,000 2017, $5,015,000 2018, $6,380,000
<br />2019, $6,430,000 2020, $6,460,000 2021, $6,495,000 2022, $6,535,000 2023, $6,565,000 2024,
<br />$6,165,000 2025, $3,280,000 2026 and $2,825,000 2027. The foregoing notwithstanding, the
<br />Chairman or Vice - Chairman of the Board, County Manager or Finance Director, respectively,
<br />each acting on behalf of the County, may increase or decrease the principal amount of the Series
<br />2013 Bonds maturing at each maturity, either before or after the opening of bids in the case of a
<br />competitive sale or prior to execution of a contract of purchase in the case of a private sale of the
<br />Series 2013 Bonds (including elimination or addition of one or more maturities), provided that
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<br />Attachment number 2
<br />G -1 Page 189
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