Minutes - 19880201 - Laserfiche WebLink

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zx ~ the denomination of $500 or any multiple thereof and shall be numbered. ~- ±~ - - - The bands shall bear interest at a rate ar rates to be determined by the Local Gover-iment Commission of North Carolina at the twme the bonds are sold, which interest to the respective maturities thereof shall be payable semiannually on June 1 and December 1 of each year; provided, however, that the interest an any bond awarded to the FmHA to the respective maturities of the installments of the principal thereof shall be payable vn June 1, 1988 and annually thereafter an the lst day of June each year. Each bond shall bear interest Pram the interest payment date next preceding the date on which it is authenticated unless it is (a) authenticated upon an interest payment date in which event it shall bear interest from such interest payment date or (b) authenticated prior to the first interest payment date in which event it shall bear interest from its date; provided, however, that if at L~he time of authentication interest is in default, such band shall bear ~.nterest from the date to which interest has been paid. The principal of and the interest and any redemption premium an the bonds shall be payable in any coin or currency of the United States of America which is legal. tender far the payment of public and private debts on the respective dates of payment thereof. The principal of and any redematian premium an each bend, other than a band registered i.n the name of the FmHA, shall be payable to the registered owner thereof or his registered assigns ar legal representative at the corporate trust office of the Bond Registrar mentioned hereinafter upon the presentation and surrender thereof as the same shall became due and payable. - Payment of the interest on each bond shall be made by the Sand Registrar on each interest payment date to the person