Orange County NC Website
Browse       Search
33 <br /> Section 1.04. Form and Details; Payments. The Series A Bonds will be <br /> numbered RA-1 upward for identification, will be designated "Limited Obligation <br /> Bonds, Series 2024A," and will be in substantially the form of Exhibit C, with any <br /> changes as this Supplemental Agreement permits or requires. The Series B Bonds <br /> will be numbered RB-1 upward for identification, will be designated "Taxable <br /> Limited Obligation Bonds, Series 2024B," and will be in substantially the same form <br /> as the Series A Bonds. The 2024 Bonds will be issued as fully registered bonds <br /> payable as to interest semiannually until payment on each Payment Date at the <br /> following rates (calculated based on a 360-day year consisting of twelve 30-day <br /> months), and payable as to principal on October 1 in the following years and <br /> amounts: <br /> Series A Bonds <br /> Installment Date Principal Installment Date Principal <br /> (October 11 Amount f$1 (October ij Amount ($1 <br /> [To come <br /> Series B Bonds <br /> Installment Date Principal Installment Date Principal <br /> (October 1) Amount ($1 (October Amount ($1 <br /> To come <br /> (d) Exhibit D shows a schedule of payments due on the 2024 Bonds with <br /> respect to each Payment Date. Upon any redemption of any 2024 Bonds, the County <br /> will recalculate the schedule of payments to reflect the redemption and will then <br /> deliver a substitute Exhibit D to the Trustee reflecting the recalculated payment <br /> schedule. The Trustee has no responsibility to confirm any recalculated payment <br /> schedule. <br /> (e) The County shall pay or cause to be paid, when due, the principal of <br /> (whether at maturity, by acceleration, by mandatory redemption as provided in <br /> Section 2.05 or otherwise), and interest on the 2024 Bonds at the places, on the <br /> dates, and in the manner provided in this Supplemental Agreement, in the 2024 <br /> 4 <br />