Minutes - 19880201 - Laserfiche WebLink

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2Z V For the prompt payment hereof, both principal and in- terest as the same shall become due, the faith-and credit of said County of Prange are hereby irrevocably pledged. This bond is duly authorized and issued under and pur- suant to The Local Government Bond Act, as amended, Article 7, as amended, of Chapter 159 of the General Statutes of North Carolina, an order which has taken effect, and a resolution duly passed by the Board of Commissioners for said County, for the purpose of providing funds, with any other available funds, for constructing a portion of a sanitary sewew system far said County. At the office of the Sand Registrar, in the manner and subject to the conditions provided in said resolution, this bond may be exchanged far an equal aggregate principal amount of bonds having maturities corresponding to the maturities of the installments of principal of this band then unpaid, issuable in fully registered form in the denomination of $500 or~any integral multiple thereof and bearing interest at the same rate. This bond is registered as to both principal and inter- est in the name of the United States of America, Farmers Home Administration, on books of said County kept by the Finance Director far the County as Band Registrar, and the transfer hereof may hereafter be registered by }she registered owner hereof only upon an execution of an assignment hereon duly executed by such registered owner or his attorney or legal representative. Notice of such assignment shall be given promptly by the assignor to the Band Registrar by registered mail., such notice to be in such form as shall be satisfactory to the Band Registrar, and upon receipt of such notice this bond shall be registered as to both principal. and interest on such registration books in the name of the assignee named in such notice.