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the previous bond or bonds evidencing the same debt as that <br /> evidenced by this bond) is registered at the close of business on <br /> the record date for such interest, which shall be the 15th day <br /> (whether or not a business day) of the calendar month next <br /> preceding such interest payment date, by check mailed to such <br /> person at his address as it appears on the bond registration books <br /> of said County. Both the principal of and the interest on this <br /> Bond shall be paid in any coin or currency of the United States of <br /> America that is legal tender for the payment of public and private <br /> debts on the respective dates of payment thereof. For the prompt <br /> payment hereof, both principal and interest as the same shall <br /> become due, the faith and credit of said County of Orange are <br /> hereby irrevocably pledged. <br /> This bond is one of an issue of bonds designated "School <br /> Bonds, Series 1994" (the "Bonds") and issued by said County for the <br /> purpose of providing funds, with any other available funds, for <br /> providing additional school facilities in said County, and this <br /> bond is issued under and pursuant to The Local Government Bond Act, <br /> as amended, Article 7, as amended, of Chapter 159 of the General <br /> Statutes of North Carolina, an order adopted by the Board of <br /> Commissioners for said County, which order was approved by the vote <br /> of a majority of the qualified voters of said County who voted <br /> thereon at a referendum duly called and held, and a resolution duly <br /> passed by said Board of Commissioners (the "Resolution") . <br /> 8 <br />