Orange County NC Website
36 <br /> provided, however, that so long as a book-entry system with DTC is used for <br /> determining beneficial ownership of Series A Bonds to be redeemed, if less than all <br /> of the Series A Bonds within a maturity are to be redeemed, the parties agree that <br /> DTC may determine which of the Series A Bonds within the maturity are to be <br /> redeemed in accordance with DTC's then-current rules and procedures. <br /> (c) In any case, (i) the portion of any Series A Bond to be redeemed must <br /> be in the principal amount of $5,000 or some integral multiple thereof, and (ii) in <br /> selecting Series A Bonds for redemption, each Series A Bond will be considered as <br /> representing that number of Series A Bonds which is obtained by dividing the <br /> principal amount of that Series A Bond by $5,000. If a portion of a Series A Bond is <br /> called for redemption, the County will prepare, and the Trustee will deliver, a new <br /> Series A Bond of the same series in principal amount equal to the unpaid portion to <br /> the registered owner upon the surrender of the Series A Bond. <br /> Section 2.03. Redemption Notices. (a) The Trustee, at the County's <br /> direction, upon being satisfactorily indemnified with respect to expenses, and with <br /> at least two Business Days' notice, will send notice of redemption no less than 30 <br /> nor more than 60 days prior to the redemption date, as follows: <br /> (i) With respect to any Series A Bonds being called for redemption for <br /> which DTC or its nominee is the registered owner, to DTC, in whatever manner may <br /> be provided for under DTC's standard operating rules as then in effect (and if the <br /> Trustee is unable to determine those rules, by registered or certified mail, return <br /> receipt requested); <br /> (ii) With respect to any Series A Bonds for which no book-entry-only <br /> system of registration is in effect, to each of the registered owners of those Series A <br /> Bonds at their addresses as shown on the Trustee's registration books, by registered <br /> or certified mail; and <br /> (iii) In any case, both (A) to the MSRB for posting on the EMMA System and <br /> (B) to the LGC. <br /> Notwithstanding anything to the contrary in this Supplemental Agreement, <br /> the County acknowledges and agrees that the Trustee is not acting as the disclosure <br /> or dissemination agent for purposes of Rule 15c2-12 in connection with any notice <br /> to be posted with the MSRB via the EMMA System. <br /> 7 <br />