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it <br /> 9 <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 1993" (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 <br /> duly passed by said Board of Commissioners (the "Resolution") . <br /> The Bonds maturing prior to March 1, 2004 are not subject to <br /> redemption prior to maturity. The Bonds maturing on March 1, 2004 <br /> and thereafter may be redeemed, at the option of said County, from <br /> any moneys that may be made available for such purpose, either in <br /> whole or in part on any date not earlier than March 1, 2003 , at the <br /> principal amount of the Bonds to be redeemed, together with <br /> interest accrued thereon to the date fixed for redemption, plus a <br /> redemption premium of 1/2 of 1% of the principal amount of each <br /> 8 <br />