Notice of Adoption

Notice of Adoption Bond Order Authorizing the Issuance of $320,525,000 General Obligation School Bonds of the County of New Hanover, North Carolina WHEREAS, the Board of Commissioners (the "Board") of the County of New Hanover, North Carolina (the "County") has ascertained and hereby determines that it is necessary to pay the capital costs of constructing, improving, and renovating school facilities, including, but not limited to, the construction and renovation of classroom facilities, the acquisition and installation of furnishings and equipment, the acquisition of land, rights-of-way and easements in land required therefor, and related public infrastructure development; and WHEREAS, an application has been filed with the Secretary of the Local Government Commission of North Carolina (the "Commission") requesting Commission approval of the General Obligation School Bonds hereinafter described as required by the Local Government Bond Act, and the Clerk to the Board has notified the Board that the application has been accepted for submission to the Commission. NOW, THEREFORE, BE IT ORDERED by the Board of Commissioners of the County of New Hanover, North Carolina, as follows: Section 1. To raise the money required for the purpose described above, in addition to any funds which may be made available for such purpose from any other source, General Obligation School Bonds of the County are hereby authorized and shall be issued pursuant to the Local Government Finance Act of North Carolina. The maximum aggregate principal amount of such General Obligation School Bonds authorized by this order shall be $320,525,000. Section 2. Taxes will be levied in an amount sufficient to pay the principal and interest of the General Obligation School Bonds. Section 3. A sworn statement of the County's debt has been filed with the Clerk to the Board and is open to public inspection. Section 4. The bond order will take effect when approved by the voters of the County at a referendum scheduled for November 3, 2026. The foregoing order was adopted on the 15th day of June, 2026 and is hereby published on June 19, 2026. Any action or proceeding questioning the validity of the order must be begun within 30 days after the date of publication of this notice. The Chief Financial Officer of the County of New Hanover has filed a statement estimating that the total amount of interest that will be paid on the bonds over the expected term of the bonds, if issued, is $179,852,988. A tax is authorized to be levied to pay the principal and interest on the bonds if they are issued. The finance officer has filed a statement estimating that a property tax increase of $0.005 per $100 (equivalent to $5.00 per $100,000) of assessed valuation will be required to provide sufficient funds to pay the principal and interest on the proposed bonds. These estimates are preliminary, are for general informational purposes only, and may differ from the actual interest paid on the bonds or the actual property tax increases required to provide sufficient funds to pay the principal and interest on the bonds. /s/ Kymberleigh G. Crowell Clerk to the Board of Commissioners County of New Hanover, North Carolina Publication Dates LWLM0540468