Orange County NC Website
authenticated by the manual signature of an authorized officer or employee of a bond <br /> registrar selected by the Finance Officer. <br /> Interest on each Bond will be payable semiannually (a) from its date, if it is <br /> authenticated prior to the first interest payment date, or (b) otherwise from the interest <br /> payment date that is, or immediately precedes, the date on which it is authenticated (unless <br /> payment of interest is in default, in which case such Bond will bear interest from the date to <br /> which interest has been paid). Principal, interest and any prepayment premium will be <br /> payable in lawful money of the United States of America. <br /> The Board directs the Finance Officer to execute a certificate prior to the initial <br /> delivery of the Bonds designating the final aggregate principal amount of the Bonds (up to <br /> the maximum authorized amounts stated above), the final principal payment schedule, and <br /> the interest payment dates for the Bonds. This certificate will be conclusive evidence of the <br /> Finance Officer's approval and determination of these matters. <br /> 8. Finance Officer as Registrar;Payments to Registered Owners -- The Board <br /> appoints the Finance Officer as Registrar for the Bonds. As Registrar, the Finance Officer <br /> shall maintain appropriate books and records of the ownership of the Bonds. The County <br /> will treat the registered owner of each Bond as the person exclusively entitled to payment <br /> of principal, interest and any prepayment premium and the exercise of all rights and <br /> powers of the owner, except that the County will make payments to the person shown as <br /> owner on the registration books at the end of the calendar day on the 15th day of the <br /> month (whether or not a business day) preceding each interest payment date. <br /> 9. Advertising Bonds for Sale - The Board directs the Finance Officer, in <br /> collaboration with the LGC, to take all proper steps to advertise the Bonds for sale in <br /> accordance with standard LGC procedures, including by using a "Notice of Sale" document <br /> in the LGC's customary form and in substantially the same form as used for prior County <br /> bond sales. The Board directs the Finance Officer to review and approve a form of Notice of <br /> Sale as that officer may determine to be in the County's best interest. <br /> 10. LGC To Sell Bonds -- The County asks the LGC to sell the Bonds, to receive <br /> and evaluate bids and to award the Bonds based on the best bid received. <br /> 11. Completing Official Statement after Sale - After the LGC has received bids <br /> and awarded the Bonds to the successful bidder, the Board directs the Finance Officer, in <br /> collaboration with the LGC, to prepare a final Official Statement within the meaning of Rule <br />