Agenda - 02-01-1988 - Laserfiche WebLink

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2�� This bond or any part hereof at the time outstanding may be redeemed, at the option of said County at any time prior to the maturity of any installment of the principal hereof, either in whole or in part in the inverse order of the maturity dates of the installments of principal, from any moneys that may be made available for such purpose, at the aggregate principal amount of the installments of principal to be redeemed, together with the interest accrued thereon to the date fixed for redemption, but without any premium. On the date designated for redemption, notice having been given and moneys for payment of the redemption price being held in trust for such purpose, all as provided in said resolu- tion, this bond or part hereof shall become and be due and pay- able, and the interest on this bond or part hereof so redeemed shall cease to accrue. The Bond Registrar shall not be required to exchange or register any transfer of (i) any bond during a period beginning at the opening of business fifteen (15) days before the day of the mailing of a notice of redemption of bonds or any portion thereof and ending at the close of business on the day of such mailing or (ii) any bond called for redemption in whole or in part pursuant to said resolution. It is hereby certified and recited that all acts, con- ditions, and things required by the Constitution and laws of North Carolina to happen, exist, and be performed precedent to and in the issuance of this bond have happened, exist, and have been performed in regular and due form and time as so required; that provision has been made for the levy and collection of a direct annual tax upon all taxable property within said County sufficient to pay the principal of and the interest on this bond as the same shall become due; and that the total indebtedness of -21- BROWN a WOOD.ONE WORLD TRADE CENTER.NEW YORK.N.Y.1004E