Orange County NC Website
ARTICLE It <br /> REDEMPTION <br /> Section 2.01. Redemption Dates and Prices. (a) Principal of the 2022 <br /> Bonds is subject to redemption and prepayment prior to the scheduled Payment <br /> Dates only under the terms of this Article. <br /> (b) Principal of the 2022A Bond is not subject to prepayment prior to the <br /> scheduled Payment Dates. <br /> (c) (i) The County may prepay the principal of the 2022B Bond, in whole <br /> or in part, at the County's option, on any date, upon payment of the principal <br /> amount to be prepaid plus interest accrued to the prepayment date. <br /> (ii) No premium or penalty is payable for a redemption of the o0 ar before <br /> made under this Section after May 12, 2032. For a prepayment mad <br /> May 12, 2032, the County must pay the Make Whole Prepayment Premium. <br /> ui if the County redeems a portion of the 2022B Bond, the County will <br /> prepare, and the Trustee will deliver, a new 20221 Bond in principal amount,equal <br /> to the unpaid portion to the registered owner upon the surrender of the 2022B <br /> Bond. <br /> Section 2.02. Redemption Notices. (a) The Trustee, at the County's <br /> direction, upon being satisfactorily indemnified by the County with respect to <br /> expenses and with at least two $'usiness Days' notice, will send notice of redemption <br /> no less than 30 nor more than 60 days prior to the redemption date, to the <br /> registered owner of the 2022B Bond at its address as it appears on the Trustee's <br /> registration books, by registered or certified mail. The Trustee shall also send a copy <br /> of the notice to the LGC. <br /> (b) Any redemption notice may state,that the redemption to be effected is <br /> conditioned upon -- <br /> 7 <br />