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10 <br />which, at the respective dates of payment thereof, is legal tender for the payment <br />of public and private debts. For the prompt payment hereof, both principal and <br />interest as the some shall become due, the full faith and credit of said County <br />of Orange are hereby irrevocably pledged. <br />This bond is one of a series issued by said County, acting as an administrative <br />agent of the State of North Carolina in providing a State system of Dublic schools, <br />for the purpose of Droviding funds, with any other available funds, for erecting <br />additonal school buildings and other school plant facilities, remodeling, enlarging <br />and reconstructing existing school buildings and other school plant facilities, <br />and acquiring necessary land and equipment therefor, in order to provide additional <br />school facilities in the County of Orange to maintain the six months' school term <br />in said County as required by Section 3 of Article IX of the Constitution of North <br />Carolina, and this bond is ussued under and pursuant to The County Finance Act, <br />as amended, and the Local Government Act, as amended, and an order which was <br />approved by the vote of a majority of the qualified voters of said County who voted <br />at an election duly called and held, and resolutions duly passed by the Board of <br />Commissioners for said County. <br />It is hereby certified and recited that all acts, conditions and things re- <br />quired by the Constitution and laws of North Carolina to happen, exist and be <br />performed precedent to and in the issuance of this bond have happened, exist and <br />have been performed in regular and due form and time as so required; that pro- <br />vision has been made for the levy and collection of a direct annual tax upon all <br />taxable property within said County sufficient to pay the principal of and the <br />interest on this bond as the same shall become due; and that the total indebtedness <br />of said County, including this bond, does not exceed any constitutional or statutory <br />limitation thereon. <br />This bond may be registered as to principal alone in accordance with the pro- <br />visions endorsed hereon. <br />IN WITNESS WHEREOF, said County of Orange, by order of its Board of Commissioners <br />has caused this bond to be signed by the Chairman of said Board and by the Register <br />of Deeds and ex officio Clerk of said Board, and the corporate seal of said Board <br />to be affixed hereto, and has caused the interest coupons attached hereto to be <br />executed with the facsimile signature of said Register of Deeds and ex officio <br />Clerk, all. as of the let day of December, 1961. <br />Chairman of oar of Commissioners <br />agister o Deeds an ex officio <br />Clerk of Board of Commissioners <br />(Endorsements upon bonds) <br />CERTIFICATE OF LOCAL GOVERNMENT COM11ISSION <br />The issuance of the within bond has been approved under the provisions of the <br />Local Government Act of North Carolina, <br />W. E. Easterling, <br />Secretary, Local Government Commission <br />By: _ <br />Designated Assistant <br />PROVISIONS FOR REGISTRATION <br />This bond may be registered as to principal alone in the Bond Register of <br />the County of Orange by the Register of Deeds and ex officio Clerk of the Board <br />of Commissioners of said County as Bond Registrar, at his office in Hillsboro, <br />or by such other Bond Registrar as may be legally appointed by the governing body <br />of said County, upon presentation hereof W the Bond Registrar who shall make <br />notation of such registration in the registration blank below, and this bond <br />may thereafter be transferred only upon a duly executed assignment of the regis- <br />tered owner or his attorney, in s ch form as shall be satisfactory to the Bond <br />Registrar, such transfer to beI Lch Bond Register and endorsed hereon by the <br />Bond Registrar. Such transfer may be to bearer and thereby transferability by <br />delivery shall be restored, but this bond shall again be subject to successive <br />registrations and transfers as before. The principal of this bond, if registered, <br />unless registered to bearer, shall be payable only to or upon the order of the <br />registered owner or his legal representative. Notwithstanding the registration <br />of this bond as to principal alone, the coupons shall remain payable to bearer <br />and shall continue to be tranferable by delivery.