Heat oven to 325ºF (165ºC). Grease and flour 2 L (9-cup) fluted or regular tube pan.
For Cake, in medium bowl, combine flour, baking powder and salt; set aside. In large bowl, beat butter, sugar and orange peel on medium speed 2 minutes until light and fluffy. Beat in eggs, one at a time, beating well after each addition. Gradually beat in flour mixture on low speed. Increase speed to medium and beat 30 seconds longer. Stir in corn meal until thoroughly combined. Spoon into prepared pan; spread evenly. Bake 50 to 60 minutes or until toothpick inserted in center comes out clean. Cool 15 minutes. Remove from pan; cool at least 30 minutes.
For Sauce, in small saucepan, stir together sugar and cornstarch. Stir in juice. Heat to boiling, stirring frequently, until thickened and bubbly. Remove from heat; stir in butter and bourbon. Cool at least 15 minutes before serving.