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the Bonds. Unless other funds are lawfully available and appropriated for timely payment <br /> of the Bonds, the County will levy and collect an annual ad valorem tax, without <br /> restriction as to rate or amount, on all locally taxable property in the County sufficient to <br /> pay the principal of and interest on the Bonds as the same become due. <br /> 4. Form of Bonds -- The Bonds will take the form of a single fully-registered <br /> bond to be designated "General Obligation Refunding Bond, Series 2015." The Bond will <br /> be fully registered as to payment of principal and interest, and will be registered initially <br /> in the name of the Purchaser. This Bond will be dated the date of its initial delivery to the <br /> Purchaser and will be numbered R-1 for identification. <br /> The Bond will be substantially in the form set out in Exhibit A, with such changes <br /> as the officers signing the Bond may approve. The delivery of the Bond to the Purchaser <br /> will be conclusive evidence of such officers' approval of the final form of the Bond. <br /> The Bond must be signed by the manual or facsimile signature of the County <br /> Manager or the Board Chair. The County's seal must be affixed to the Bond (or a <br /> facsimile of the seal printed on the Bond) and attested by the manual or facsimile <br /> signature of the Clerk to this Board. No Bond will be valid unless at least one signature <br /> appearing on the Bond is manually applied; the manual signature may be the signature of <br /> an LGC official that is required by law to appear on the Bond. <br /> 5. Bond Payment Provisions — The final aggregate principal amount of Bonds <br /> to be issued and the principal and interest payment schedule for the Bonds will be as <br /> stated in the final Forward Bond Purchase Agreement. <br /> Principal and interest on the Bonds will be payable in lawful money of the United <br /> States of America by federal reserve wire transfer (or other transfer of immediately <br /> available funds) sent to the Bondholder on the payable date. Principal of the Bonds will <br /> not be subject to prepayment or redemption in advance of the stated principal installment <br /> payment dates. <br /> 6. Disbursement of Bond Proceeds — The Board directs the Finance Officer <br /> to determine, in consultation with the LGC, the procedures for the disbursement of the <br /> proceeds of the Bonds for the payment of the Prior Bonds and other costs. <br /> 7. Finance Officer as Registrar; Payments to Registered Owners -- (a) The <br /> Finance Officer is appointed Registrar for the Bonds. As Registrar, the Finance Officer <br /> must maintain appropriate books and records of the ownership of the Bonds. <br /> (b) The County will treat the registered owner of each Bond as the person <br /> exclusively entitled to payment of principal and interest and the exercise of all rights and <br /> powers of the owner, except that the County will make all payments to the person shown <br /> as owner on the registration books at the end of the calendar day on the 15th day <br /> 2 <br />