Orange County NC Website
33 <br /> (c) Each redemption notice must specify (i) the complete designation of <br /> the 2022B Bond to be redeemed, (ii) the CUSIP numbers of the 2022B Bonds to be <br /> redeemed, if any, (iii) the dated dates, maturity dates and interest rates of the 2022 <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 /> 2022B Bond or portions thereof 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 2022B Bond 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. 2022B Bond 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 /> 2022B Bonds called for redemption, the 2022B Bond (or portions of the 2022B <br /> Bond) called for redemption ceases to accrue interest from and after the redemption <br /> date. Thereafter, that 2022B Bond, or portion called for redemption, (a) is no longer <br /> entitled to the benefits provided by the Trust Agreement and (b) is not deemed to <br /> be Outstanding under the Trust Agreement. <br /> ARTICLE III <br /> DEPOSIT AND USE OF 2022 PROCEEDS; OTHER FUNDS <br /> Section 3.01. Disbursement of Proceeds. The Trustee will apply proceeds <br /> from the sale of the 2022 Bonds as provided in the certificate described in Section <br /> 1.07(f). <br /> Section 3.02. Creation and Use of 2022 Proceeds Fund. The Trustee will <br /> establish a special fund designated as the "Orange County 2022 Proceeds Fund." The <br /> 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 /> 8 <br />