Orange County NC Website
Browse       Search
April 1, 2018 $ xxxxxxx <br /> April 1, 2019 $ xxxxxxx <br /> together with interest on the unpaid principal from the date of this Bond until payment at <br /> the annual rate of [2.50%], with interest payable semiannually on each April 1 and <br /> October 1, beginning October 1, 2015. The principal of this Bond may not be paid, <br /> prepaid or redeemed prior to maturity except on the dates and in the amounts set forth <br /> above. <br /> Interest will be calculated on the basis of a 360-day year consisting of twelve 30- <br /> day months. Principal and interest are payable in lawful money of the United States of <br /> America by federal reserve wire transfer (or other transfer of immediately available <br /> funds) sent to the Bondholder on the payment date. <br /> In all events, and notwithstanding any other provisions of this Bond, (1) all <br /> payments on this Bond will be applied first to interest accrued and unpaid to the payment <br /> date and then to principal, and (2) if not sooner paid, the entire principal of and interest on <br /> this Bond will be due and payable on April 1, 2019. <br /> This Bond is issued pursuant to a Bond Order and a Bond Resolution, each adopted <br /> by the County's governing Board of Commissioners on June 17, 2014, and the Constitution <br /> and laws of the State of North Carolina, including the Local Government Bond Act. <br /> The County's full faith and credit are pledged for the payment of principal of and <br /> interest on this Bond. <br /> This Bond is fully registered as to both principal and interest. Transfer of this Bond <br /> may be registered upon books maintained for that purpose by the County's Finance Officer, <br /> who has been appointed Registrar, at Orange County Government Services Center, 200 <br /> South Cameron Street, Hillsborough NC 27278, or such successor office as the Registrar <br /> may designate in writing to the Bondholder. The Registrar will not, however, register the <br /> transfer of any portion of the Bond to any person or entity other than a bank, an insurance <br /> company or a similar financial institution unless the North Carolina Local Government <br /> Commission has previously approved the transfer. This Bond may only be transferred <br /> and held in minimum denominations of$250,000 and integral multiples of$5,000 above <br /> the minimum. Transfer of this Bond is further subject to the restrictions set forth in the <br /> Forward Bond Purchase Agreement dated July , 2014, which provides for the <br /> issuance of this Bond. <br /> The Registrar will treat the registered owner of this Bond as the person exclusively <br /> entitled to payment of principal of and interest on this Bond and the exercise of all other <br /> 6 <br />