Orange County NC Website
Browse       Search
(i) the Trustee's receipt on or prior to the redemption date of moneys <br /> sufficient to pay the principal of and interest on the 2022B Bonds or <br /> portions thereof to be redeemed; or <br /> (ii) any other condition not unacceptable to the Trustee. <br /> If a notice contains a condition and the Trustee either (i) does not receive <br /> moneys sufficient to pay the principal of and interest on the 2022B Bond on or <br /> prior to the redemption date, or (ii) the stated condition is not fulfilled, <br /> in either case on or before 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 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 <br /> 2022B Bonds to be redeemed, (iv) the date fixed for redemption, (v) any conditions <br /> to the redemption, as contemplated by subsection (b) above, (vi) the principal <br /> amount of 2022B Bond or portions thereof to be redeemed, (vii) the applicable <br /> redemption price, (viii) the address of the place or places of payment, (ix) the <br /> Trustee's name and telephone number, and the name of a contact person, (x) that <br /> interest accrued to the date fixed for redemption will be paid as specified in the <br /> notice, and (xi) that on and after the established redemption date, interest on 2022B <br /> Bond which have been redeemed will cease to accrue. The Trustee must also include <br /> in any redemption notice any additional information provided by the County for use <br /> in the 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 /> 8 <br />