Orange County NC Website
thereon to the date fixed for redemption, have been deposited by <br /> the Issuer to be held in trust for the registered owners of Bonds <br /> or portions thereof to be redeemed, interest on the Bonds or <br /> portions thereof called for redemption shall cease to accrue, such <br /> Bonds or portions thereof shall cease to be entitled to any <br /> benefits or security under this resolution or to be deemed <br /> outstanding, and the registered owners of such Bonds or portions <br /> thereof shall have no rights in respect thereof except to receive <br /> payment of the redemption price thereof, plus accrued interest to <br /> the date of redemption. <br /> If a portion of a Bond shall be selected for redemption, the <br /> registered owner thereof or his attorney or legal representative <br /> shall present and surrender such Bond to the Bond Registrar for <br /> payment of the principal amount thereof so called for redemption <br /> and the redemption premium, if any, on such principal amount, and <br /> the Bond Registrar shall authenticate and deliver to or upon the <br /> order of such registered owner or his legal representative, without <br /> charge therefor, for the unredeemed portion of the principal amount <br /> of the Bond so surrendered, a Bond or Bonds of the same maturity, <br /> of any denomination or denominations authorized by this resolution <br /> and bearing interest at the same rate. <br /> Section 5. Bonds, upon surrender thereof at the office of the <br /> Bond Registrar together with an assignment duly executed by the <br /> registered owner or his attorney or legal representative in such <br /> form as shall be satisfactory to the Bond Registrar, may, at the <br /> 18 <br />