Orange County NC Website
Browse       Search
5 <br /> and conditions. This certificate will be conclusive evidence of the Finance Officer's <br /> determination of these terms and conditions. <br /> 6. Form of Bonds; Payment Details -- The Bonds will be designated <br /> "General Obligation School Bonds, Series 2020." <br /> The Bonds will be in substantially the form set out in Exhibit A. The Bonds <br /> will be dated the date of their initial issuance, will be in fully registered form, will be <br /> in denominations of$5,000 and integral multiples thereof and will be numbered for <br /> identification from R-1 upward. <br /> The Bonds must be signed by the manual or facsimile signature of the Board's <br /> Chair or the County Manager, and the County's seal must be affixed to the Bonds (or <br /> a facsimile of the seal printed on the Bonds) and attested by the manual or facsimile <br /> signature of the Clerk to this Board or any Deputy or Assistant Clerk. No Bond will <br /> be valid unless at least one of the signatures appearing on the Bond (which may be <br /> the signature of the LGC's representative required by law) is manually applied or <br /> until the Bond has been authenticated by the manual signature of an authorized <br /> officer or employee of a bond 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 <br /> interest payment date that is, or immediately precedes, the date on which it is <br /> authenticated (unless payment of interest is in default, in which case such Bond will <br /> bear interest from the date to which interest has been paid). Principal, interest and <br /> any prepayment premium will be payable in lawful money of the United States. <br /> The Board directs the Finance Officer to execute a certificate prior to the <br /> initial delivery of the Bonds designating the final aggregate principal amount of the <br /> Bonds (up to the maximum authorized amount of $20,060,000), the final principal <br /> payment schedule, and the interest payment dates for the Bonds. This certificate <br /> will be conclusive evidence of the Finance Officer's approval and determination of <br /> these matters. <br /> 3 <br />