Orange County NC Website
28 <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 /> 2020 Bonds or portions thereof to be redeemed, (vii) the applicable redemption price, <br /> (viii) the address of the place or places of payment, (ix) the Trustee's name and <br /> telephone number, and the name of a contact person, (x) that interest accrued to the <br /> date fixed for redemption will be paid as specified in the notice, and (xi) that on and <br /> after the established redemption date, interest on 2020 Bonds which have been <br /> redeemed will cease to accrue. The Trustee must also include in any redemption <br /> notice any additional information provided by the County for use in the notice. <br /> Section 2.04. 2020 Bonds Payable on Redemption Date; Interest Ceases <br /> To Accrue. If on or before the date fixed for redemption funds are deposited with the <br /> Trustee to pay the principal of and interest accrued to the redemption date on 2020 <br /> Bonds called for redemption, the 2020 Bonds (or portions of 2020 Bonds) called for <br /> redemption cease to accrue interest from and after the redemption date. Thereafter, <br /> those 2020 Bonds (a) are no longer entitled to the benefits provided by the Trust <br /> Agreement and (b) are not deemed to be Outstanding under the Trust Agreement. <br /> ARTICLE III <br /> DEPOSIT AND USE OF 2020 PROCEEDS; OTHER FUNDS <br /> Section 3.01. Disbursement of Proceeds. The Trustee will apply <br /> proceeds from the sale of the 2020 Bonds as provided in the certificate described in <br /> Section 1.07(f). <br /> Section 3.02. Creation and Use of 2020 Proceeds Fund. The Trustee <br /> will establish a special fund designated as the "Orange County 2020 Proceeds Fund." <br /> The Trustee will keep this Fund separate and apart from all other funds and moneys <br /> held by it, and will hold and administer this Fund as provided in this Supplemental <br /> Agreement. Moneys in the 2020 Proceeds Fund will be expended only as described in <br /> Sections 3.03 and 3.04. The Trustee is not required to disburse any moneys from the <br /> 2020 Proceeds Fund during the continuation of any Event of Default. <br /> Section 3.03. Deposits to 2020 Proceeds Fund; Payment of Project <br /> Costs. (a) The Trustee will deposit into the 2020 Proceeds Fund the amount <br /> 7 <br />