Orange County NC Website
32 <br /> If a notice contains a condition and the Trustee either (i) does not receive <br /> moneys sufficient to pay the principal of and interest on the 2019B Bonds on or <br /> prior to the redemption date, or (ii) the stated condition is not fulfilled, <br /> in either case on or prior to the redemption date, <br /> then redemption will not be made, and the Trustee must, within a reasonable <br /> time, give notice the same way the redemption notice was given that the moneys <br /> were not so received (or condition was not fulfilled) and the redemption was not <br /> made. <br /> (c) Each redemption notice must specify (i) the complete designation of <br /> the 2019B Bonds to be redeemed, (ii) the CUSIP numbers of the 2019B Bonds to be <br /> redeemed, (iii) the dated dates, maturity dates and interest rates of the 2019B <br /> Bonds to be redeemed, (iv) the date fixed for redemption, (v) any conditions to the <br /> redemption, as contemplated by subsection (b) above, (vi) the principal amount of <br /> 2019B Bonds or portions thereof to be redeemed, (vii) the applicable redemption <br /> price, (viii) the address of the place or places of payment, (ix) the Trustee's name <br /> and telephone number, and the name of a contact person, (x) that interest accrued <br /> to the date fixed for redemption will be paid as specified in the notice, and (xi) that <br /> on and after the established redemption date interest on 2019B Bonds which have <br /> been redeemed will cease to accrue. The Trustee must also include in any <br /> redemption notice any additional information provided by the County for use in the <br /> notice. <br /> Section 2.04. 2019B Bonds Payable on Redemption Date; Interest <br /> Ceases To Accrue. If on or before the date fixed for redemption funds are <br /> deposited with the Trustee to pay the principal of and interest accrued to the <br /> redemption date on 2019B Bonds called for redemption, the 2019B Bonds (or <br /> portions of 2019B Bonds) called for redemption cease to accrue interest from and <br /> after the redemption date. Thereafter, those 2019B Bonds (a) are no longer entitled <br /> to the benefits provided by the Trust Agreement and (b) are not deemed to be <br /> Outstanding under the Trust Agreement. <br /> ARTICLE III <br /> 7 <br />