Laserfiche WebLink
pursuant to which there are to be executed and delivered from time to time Certificates of <br />Participation, including the Certificates of Participation (County of Cabarms, North Carolina <br />Installment Financing Contract), Series 2003 (the "2003 Certificates"), the proceeds of which <br />will be used to advance the moneys to the County under the Contract; <br /> <br /> (4) a Preliminary Official Statement to be dated on or about July 11, 2003 (the <br />"Preliminary Official Statement") which, as supplemented with certain pricing and other <br />permitted omitted information, is to be the Official Statement to be dated on or about July 24, <br />2003 (the "Official Statement"), puisuant to which the 2003 Certificates are to be offered and <br />sold to the public; and ~.., <br /> <br /> (5) a Contract of Purchase, including the exhibits attached thereto, to be dated on or <br />about July 24, 2003 (the "Purchase Contract") between the Corporation and UBS PaineWebber <br />Inc., on its own behalf and as representative of the other underwriters (if any) named therein <br />(collectively, the "Underwriters"), pursuant to which the Underwriters agree to purchase the <br />2003 Certificates for sale to the public; <br /> <br /> WHEREAS, the obligations of the County to make Installment'Payments and other <br />payments pursuant to the Contract shall constitute limited obligations of the County payable <br />solely from currently budgeted appropriations of the County and shall not constitute a pledge of <br />the faith and credit of the County within the meaning of any constitutional debt limitation; <br /> <br /> - WHEREAS, no deficiency judgment may be rendered against the County in any action <br />for breach of a contractual obligation under the Contract, and the taxing power of the County is <br />not and may not be pledged in any way directly or indirectly or contingently to secure any <br />moneys due under the Contract; and <br /> <br />6 <br /> <br /> <br />