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October 3, 2017, and the Constitution and laws of the State of North Carolina, including the <br /> Local Government Bond Act. <br /> The County's full faith and credit are pledged for the payment of principal of and <br /> interest on this Bond. <br /> The Bonds are issued by means of a book-entry system,with one bond certificate for <br /> each maturity immobilized at The Depository Trust Company, New York, New York <br /> ("DTC"), and not available for distribution to the public. Transfer of beneficial ownership <br /> interests in the Bonds in the principal amount of $5,000 or any integral multiple thereof <br /> will be effected on the records of DTC and its participants pursuant to rules and procedures <br /> established by DTC and its participants. Principal and interest on the Bonds are payable by <br /> the County to DTC or its nominee as registered owner of the Bonds. The County is not <br /> responsible or liable for such transfer of ownership or payments or for maintaining, <br /> supervising or reviewing the records maintained by DTC, its participants or persons acting <br /> through such participants. <br /> Bonds maturing prior to February 1, 2028, are not subject to redemption prior to <br /> maturity. Bonds maturing on February 1, 2029, and thereafter are redeemable, at the <br /> County's option, from any moneys that may be made available for that purpose, in whole or <br /> in part on any date not earlier than February 1, 2028, at a redemption price of 100% of the <br /> principal amount to be redeemed, plus interest accrued to the redemption date, without <br /> premium. <br /> If less than all the Bonds stated to mature on different dates are called for <br /> redemption,the County will select the Bonds to be redeemed in such manner as the County <br /> may determine. If less than all of the Bonds of any one maturity are called for redemption, <br /> the particular Bonds or portions of Bonds to be redeemed from that maturity will be <br /> selected by lot in such manner as the County in its discretion may determine; provided, <br /> however, that the portion of each Bond to be redeemed will be in the principal amount of <br /> $5,000 or some integral multiple thereof, and that, in selecting Bonds for redemption, each <br /> Bond will be considered as representing that number of Bonds which is obtained by <br /> dividing the principal amount of such Bond by $5,000. Notwithstanding the foregoing, so <br /> long as a book-entry system with DTC is used for determining beneficial ownership of <br /> Bonds, if less than all the Bonds within a maturity are to be redeemed, DTC and its <br /> participants will determine which of the Bonds within any such maturity are to be <br /> redeemed. If a portion of a Bond is called for redemption, the County will issue a new Bond <br />