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<br />States of America which, at the respective dates of payment thereof, is legal
<br />tender for the oayment of public end pr ivete debts.
<br />Section 3. That seid $1,000,000 school building bonds may be issued from
<br />time to time in amounts as may be determined by resolution of the Board of
<br />Commissioners for the County of Orange end seid bands shell be des ignatad
<br />"School Building Bonds, Series " the bonds to be issssed et any one time
<br />to be designated by a different series letter. -~
<br />Se ctlon l;. That said 51,000,000 school building bonds shall be signed by
<br />the Chairman of the Board of Commissions rs and the Register of Deeds and ex
<br />officio Clerlt of seid Board, under the corporate reel of said Board, and the
<br />interest coupons to be attached to said bonds shall be executed rii th the f¢csi-
<br />mile signature of said Register of Deeds and ex officio Clerk. Said bonds and
<br />coupons and the endorsements to be printed uoon the reverse of seid bonds shall
<br />be in sub stanti ally the following forms:
<br />No.
<br />$1,000
<br />United States of America
<br />Steto of Liortn Cerolin¢
<br />COUNTY OP ORANGE
<br />School Building Bond, Series .
<br />The County of Orange, in the State of North Carolina, is ,justly indebted
<br />and for value received hereby promises to pay to the bearer or, 1f this bond be
<br />registered, to the raga stared onner hereof, on the first day of June, 19_,
<br />the princi.pel sum of
<br />ONE THOUSAND DOLLARS
<br />and to pay interest thereon from the date hereof at the rate of per centwn
<br />oar annum until payment of such print ipel sum, such interest to the maturity
<br />hereof being pey¢ble semi-annually on the first days of June and December in
<br />each gear uoon the presentation end surrender of the coupons renre renting such
<br />interest es the same respectively fall due. Both the principal of find the
<br />interest on this bond ere payable at the Central Hanover Ban]: and Trust Company,
<br />in the Borough of M1tanhat t¢n, City and State of New Yorh, in any coin or current
<br />of the United States of America which, et the respective dates of payment there t, _,
<br />is legal tender for the payment of public end private debts. For the prompt
<br />payment hereof, both principal end interest es the same shell fell due, the ful
<br />faith and credit of said County of Orange are hereby irrevocably pledged.
<br />This bond is one of a series issued by said County, acting as an adminis-
<br />trative agent of the State of Slorth Caroline in nrovi di ng a State system of
<br />public schools, for the nurno se of erecting additional school buildings, re- '
<br />modeling and enlarging existing school build ings end aceuiring any no cessery
<br />lend and equipment therefor, in order to maintain the ,six months' school term
<br />in said County as rocuired by the Constitution, end this bond is issued under
<br />and piu•suant to The County Finenca Act, as emended, and the Local Government
<br />Act, as amended, ¢nd an order •ahich ores apnr oved by the vote of e me,jori ty of
<br />the qualified voters of said County vtho voted thereon at an election duly -
<br />called end held, and resolutions duly passed by the Board of Commissioners far
<br />seid County.
<br />It is hereby certified and recited that all ec ts, conditions and things
<br />required to happen, exist and be oe rformed pro cadent to and 1n the issuance of
<br />this bond by the Constitution end larvs of North Carolina have happened, oxi st
<br />end have 'Doan performed in regular end due form end time as so reaulred; that
<br />provision has been made fbr the levy and collection of a direct annual t¢x upon
<br />ell tereble property vii thin said County sufficient to nay the principal of end
<br />the interest on this bondas the same shell fell due; and that the total in-
<br />debtedness of seid County, incl ud3 ng this bond, does not exceed any constl tuti o:
<br />or statutory limitation thereon.
<br />This bond m¢y be registered as to pri nc ioel alone in accordance e+i th the
<br />orovis ions endorsed ha reon.
<br />N 'tiITT1ES5 G1dP;RBO°, said County of Orange, by order of its Board pf Com-
<br />missioners, has caused this bond to bo signed by the Chairmen of seid Board end _
<br />by the Register of Deeds and ex off is to Clerk of seid Board, under the corpor¢te
<br />seal of satd Board, and has caused the interest coupons attached hereto to be
<br />executed erl th the facsimile signature of seid Regi star of Deeds end ex officio
<br />Clerlt, ell es of the first day of December, 1950.
<br />Chei rmen of Board of Co;maissiorers
<br />Register of Uee ds and ex officio
<br />Clerlt of Board of Conuni ssi oners
<br />
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