Agenda - 06-17-2014 - 6h - Laserfiche WebLink

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April 1, 2018 $ xxxxxxx April 1, 2019 $ xxxxxxx together with interest on the unpaid principal from the date of this Bond until payment at the annual rate of [2.50 %], with interest payable semiannually on each April 1 and October 1, beginning October 1, 2015. The principal of this Bond may not be paid, prepaid or redeemed prior to maturity except on the dates and in the amounts set forth above. Interest will be calculated on the basis of a 360 -day year consisting of twelve 30- day months. Principal and interest are payable in lawful money of the United States of America by federal reserve wire transfer (or other transfer of immediately available funds) sent to the Bondholder on the payment date. In all events, and notwithstanding any other provisions of this Bond, (1) all payments on this Bond will be applied first to interest accrued and unpaid to the payment date and then to principal, and (2) if not sooner paid, the entire principal of and interest on this Bond will be due and payable on April 1, 2019. This Bond is issued pursuant to a Bond Order and a Bond Resolution, each adopted by the County's governing Board of Commissioners on June 17, 2014, and the Constitution and laws of the State of North Carolina, including the Local Government Bond Act. The County's full faith and credit are pledged for the payment of principal of and interest on this Bond. This Bond is fully registered as to both principal and interest. Transfer of this Bond may be registered upon books maintained for that purpose by the County's Finance Officer, who has been appointed Registrar, at Orange County Government Services Center, 200 South Cameron Street, Hillsborough NC 27278, or such successor office as the Registrar may designate in writing to the Bondholder. The Registrar will not, however, register the transfer of any portion of the Bond to any person or entity other than a bank, an insurance company or a similar financial institution unless the North Carolina Local Government Commission has previously approved the transfer. This Bond may only be transferred and held in minimum denominations of $250,000 and integral multiples of $5,000 above the minimum. Transfer of this Bond is further subject to the restrictions set forth in the Forward Bond Purchase Agreement dated July 2014, which provides for the issuance of this Bond. The Registrar will treat the registered owner of this Bond as the person exclusively entitled to payment of principal of and interest on this Bond and the exercise of all other rr.