Orange County NC Website
25 <br /> Section 1.04. Form and Details; Payments. The 2020 Bonds will be <br /> designated "Limited Obligation Bonds, Series 2020," and will be in substantially the <br /> form of Exhibit C, with changes as the Trust Agreement may permit or require. The <br /> 2020 Bonds will be numbered R-1 upward for identification. The 2020 Bonds are <br /> payable as to interest semiannually on each Payment Date at the following rates <br /> (calculated based on a 360-day year consisting of twelve 30-day months), and are <br /> payable as to principal on October 1 in the following years and amounts: <br /> Maturity Date Principal <br /> (October 11 Amount ($1 Rate JO <br /> [To come] <br /> Exhibit D shows a schedule of payments due on the 2020 Bonds with respect to each <br /> Payment Date. Upon any redemption of the 2020 Bonds, the County will recalculate <br /> the schedule of payments to reflect the redemption, and will then deliver a <br /> substitute Exhibit D to the Trustee reflecting the recalculated payment schedule. <br /> Section 1.05. Redemption Dates and Prices. The 2020 Bonds are <br /> subject to redemption as described in Section 2.01. <br /> Section 1.06. Delivery of 2020 Bonds. The Trustee will authenticate <br /> and deliver the 2020 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 2020 Bonds are to be executed and <br /> delivered and (ii) authorizing the execution, delivery and issuance of the 2020 <br /> Bonds, this Supplemental Agreement, and Deed of Trust Supplement #3 (as <br /> described in Exhibit B) <br /> b) Evidence satisfactory to the Trustee that the LGC has approved <br /> the issuance of the 2020 Bonds <br /> 3 <br />