Orange County NC Website
(i) the Trustee's receipt on or prior to the redemption date of moneys <br /> sufficient to pay the principal of and premium, if any, and interest on <br /> the 2021 Bonds to be prepaid; or <br /> (ii) any other condition not unacceptable to the Trustee. <br /> If a notice contains a condition and the Trustee either (A) does not receive <br /> moneys sufficient to pay the principal of and premium, if any, and interest on the <br /> 2021 Bonds on or prior to the redemption date, or (B) the stated condition is not <br /> fulfilled, as evidenced to the Trustee by a County Certificate, <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 2021 Bonds to be redeemed, (ii) the CUSIP numbers of the 2021 Bonds to be <br /> redeemed, (iii) the dated dates, maturity dates and interest rates of the 2021 Bonds <br /> 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 /> 2021 Bonds or portions of Bonds 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 2021 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. 2021 Bonds Payable on Redemption Date; Interest Ceases <br /> To Accrue. If on or before the date fixed for redemption funds are deposited with <br /> the Trustee to pay the principal of and interest accrued to the redemption date on <br /> 2021 Bonds called for redemption, the 2021 Bonds (or portions of 2021 Bonds) <br /> called for redemption cease to accrue interest from and after the redemption date. <br /> Thereafter, those 2021 Bonds (a) are no longer entitled to the benefits provided by <br /> this Agreement and (b) are not deemed to be Outstanding under this Agreement. <br /> 9 <br />