Orange County NC Website
Browse       Search
28 <br /> Section 4.01 of the First Supplemental Trust Agreement between the County and the <br /> Trustee dated as of May 1, 2019 apply to the County with respect to the 2019B <br /> Bonds. <br /> Section 1.04. Form and Details; Payments. The 2019B Bonds will be <br /> designated "Limited Obligation Bonds, Series 2019B," and will be in substantially <br /> the form of Exhibit C, with changes as the Trust Agreement may permit or require. <br /> The 2019B Bonds will be numbered R-1 upward for identification. The 2019B <br /> Bonds are payable as to interest semiannually on each Payment Date at the <br /> following rates (calculated based on a 360-day year consisting of twelve 30-day <br /> months), and are payable as to principal on October 1 in the following years and <br /> amounts: <br /> Maturity Principal Annual Interest <br /> Date (October 1) Amount f$1 Rate <br /> 2020 <br /> 2021 <br /> [to come] <br /> Exhibit D shows a schedule of payments due on the 2019B Bonds with <br /> respect to each Payment Date. Upon any redemption of the 2019B Bonds, the <br /> County will recalculate the schedule of payments to reflect the redemption, and will <br /> then deliver a substitute Exhibit D to the Trustee reflecting the recalculated <br /> payment schedule. <br /> Section 1.05. Redemption Dates and Prices. The 2019B Bonds are <br /> subject to redemption as described in Section 2.01. <br /> Section 1.06. Delivery of 2019B Bonds. The Trustee will authenticate <br /> and deliver the 2019B Bonds when it has received the following items: <br /> a) Certified copies of County Board resolutions (i) approving the <br /> terms and conditions under which the 2019B Bonds are to be executed and <br /> 3 <br />