Orange County NC Website
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 (1) the complete designation of <br /> the 2024 Bonds to be redeemed, including the Series designation, ( ii) the CUSIP <br /> numbers of the 2024 Bonds to be redeemed, (iii) the dated dates, maturity dates and <br /> interest rates of the 2024 Bonds to be redeemed , (iv) the date fixed for redemption, <br /> (v) any conditions to the redemption, as contemplated by subsection (b) above , (vi) <br /> the principal amount of 2024 Bonds or portions of Bonds to be redeemed, (vii ) the <br /> applicable redemption price, (viii) the address of the place or places of payment, (ix) <br /> the Trustee ' s name and telephone number, and the name of a contact person, (x) <br /> that 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 2024 <br /> Bonds which have been redeemed will cease to accrue . The Trustee must also <br /> include in any redemption notice any additional information provided by the County <br /> for use in the notice . <br /> Section 2 . 04 . 2024 Bonds 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 /> 2024 Bonds called for redemption, the 2024 Bonds ( or portions of 2024 Bonds) <br /> called for redemption cease to accrue interest from and after the redemption date , <br /> Thereafter, those 2024 Bonds (a ) are no longer entitled to the benefits provided by <br /> this Agreement and (b ) are not deemed to be Outstanding under this Agreement. <br /> Section 2 . 05 . Mandatory Sinking Fund Redemption . ( a) Series A Bonds - - <br /> The Trustee , from amounts received from or on behalf of the County, will redeem <br /> Series A Bonds maturing on October 1 , 2041 on October 1 in years and amounts <br /> upon payment of 100 % of the principal amount thereof plus interest accrued to the <br /> redemption date, as follows ; <br /> Year Amount ($ 1 <br /> 2040 365 , 000 <br /> 2041 * 360 , 000 <br /> 10 <br />