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IRMA Exemption

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INDEPENDENT REGISTERED MUNICIPAL ADVISOR EXEMPTION

The Town of Cary, North Carolina (the “Town”) is posting this written announcement with the intent that market participants may provide advice and information to the Town regarding municipal financial products or the issuance of municipal securities and utilize the independent registered municipal advisor (“IRMA”) exemption from the municipal advisor definition in Securities and Exchange Commission rules.

The Town has engaged the services of Davenport & Company LLC (“Davenport”) to act as financial advisor to the Town in considering proposals and information that market participants provide to the Town regarding municipal financial products or the issuance of municipal securities. Davenport has advised the Town that it is a registered municipal advisor with both the Securities and Exchange Commission and the Municipal Securities Rulemaking Board.  The Town will rely on the advice of Davenport (i.e. the Town will seek and consider the advice, analysis and perspective of Davenport) regarding any information or proposals it receives that the Town determines to consider. Davenport has advised the Town that, as of the date of this announcement, the Davenport personnel providing services to the Town have been employed by Davenport for longer than two years. The Town will update this announcement from time to time as necessary if Davenport advises the Agency that the circumstances regarding such personnel have changed.

Any advice or information that you wish the Town to consider should be sent to the Town per the following contact information:

Mary Beth Huber

Deputy Treasurer
Finance Department
Town of Cary
PO Box 8005
Cary, NC  27512-8005
(919) 462-3957

marybeth.huber@townofcary.org

In no event should any proposal or advice regarding the Town be sent directly to Davenport without the express direction of the Town.  The Town will forward to Davenport any information or proposals from market participants that it receives and wishes to consider. Davenport has been instructed to inform the Town if any advice or information is sent directly to it.  The preceding sentence does not refer to the disclosures that are required to be sent to the financial advisor pursuant to 17 CFR § 240.15Ba1-1(d)(3)(vi)(C)(1), which may be directed to Ty Wellford; Davenport & Co., Inc.; 901 E. Cary Street, 14th Floor; Richmond, VA  23219 (Email: twellford@investdavenport.com ).

Date:  August 6, 2014