Orange County NC Website
22 P <br />be mace available for such purpose, either in whole on any date <br />not earlier than June 1, 1998, or in part. an any interest payment <br />date not earlier than June 1, 1998, at the principal amount of <br />the bonds to be redeemed, together with interest accrued thereon <br />to the date fixed for redemption, plus a redemption premium of <br />1/2 of 1% of the principal amount of each band to be redeemed for <br />each calendar year or part thereof between the redemption date <br />and the maturity date of such bond, such premium not to exceed 2% <br />of such principal amount. <br />If less than all of the bonds of any one maturity shall <br />be called far redemption, the particular bonds or portions of <br />bonds of such maturi~y to be redeemed shall be selected by lot by <br />said County in such manner as said County in its discretion may <br />detersaine; provided, however, that the portion of any band to be <br />redeemed shall be in the principal. amount of $500 or some <br />multiple thereof and ;what, in selecting bonds far redemption, the <br />Sand Registrar shall treat each Hond as representing '`..hat number <br />of bonds which is obtained by dividing the principal amount of <br />such bond by $500. If less '~han all of the bands. stated to <br />mature on different dates shall be Called for redemption, the <br />particular bands ar portions thereof to be redeemed shall be <br />called in the inverse order of ~+.heir maturities. <br />Not mare than sixty (60) par less than thirty (30) days <br />before the redemption date of any bands to be redeemed, whether <br />such redemption be a,n whole ar in part, said County shall cause a <br />Halite of such redemption to be filed wi~~h the Bond Registrar and <br />mailed, postage prepaid, to the registered owner of each band to <br />be redeemed in whale or in part at his address appearing upon the <br />registration books of said County. On the date f~.xed far <br />redemption, notice having been given as aforesaid, the bonds or <br />portions thereof so called for redemption shall be due and <br />payable at the redemption price provided for the redemption of <br />- 1 A <br />