Orange County NC Website
Browse       Search
(d) Bonds in lieu of which others have been authenticated under Section 2.04 • <br />(relating to registration and exchange of Bonds) or Section 2.05 (relating to mutilated, <br />lost, stolen, destroyed or undelivered Bonds). <br />"Owner," when used with reference to Bonds, means the person in whose name <br />such Bond is registered on the registration books maintained by the Trustee. <br />"Payment .Date" means, with respect to the 2010 Bonds, each May 1 and <br />November 1 beginning May 1, 201 1, and with respect to any Additional Bonds means the <br />dates specified for principal and interest payments with respect to such Additional Bonds. <br />"Payment Fund" means the Orange County 2010 Bond Payment Fund established <br />in Section 4.02. <br />"Permitted Investments" means such investments as from time to time are legal <br />investments for the County's funds, as determined at the time of investment. <br />"Prepayment Account" means the account of that name in the Payment Fund <br />established in Section 4.02. <br />"Principal Account" means the account of that name in the Payment Fund • <br />established in Section 4.02. <br />"Proceeds Fund" means the Orange County 2010 Proceeds Fund established in <br />Section 4.01. <br />"Record Date" means the close of business on the 15th day of the month (whether <br />or not a Business Day) preceding a Payment Date. <br />"Restricted Yield" means a "yield," within the meaning of Treas. Regs. Secs. <br />1.103-13 (c), -13 (d), 1.148-9T(a), or any successor or other provision that may be <br />applicable, not in excess of a "yield" equal to %. <br />"Special Counsel" means such attorney or firm of attorneys nationally recognized <br />on the subject of municipal obligations as may be selected by the County and approved <br />by the Trustee (which approval will not be unreasonably withheld). <br />"State" means the State of North Carolina. <br />"Term Bonds" means any Bonds (including the 2010 Bonds maturing November <br />1, ,and on November 1, )that are subject to mandatory redemption <br />pursuant to sinking fund requirements. • <br />"Trust Agreement" means this Trust Agreement, as it may be duly amended or <br />supplemented. <br />35 <br />