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BOOK ) FACE
<br />BE IT RESOLVED by the Board of Commissioners for the County of Orange:
<br />Section 1. The $650,000 Water and Sewer Bonds and $130,000 County Office
<br />Building Bonds to be issued by the County of Orange under date of June 1, 1967,
<br />shall be signed by the Chairman of the Board of Commissioners and by the Register
<br />of Deeds and ex officio Clerk of said Board, and the corporate seal of said
<br />Board shall be affixed to the bonds, and the interest coupons to be attached to
<br />said bonds shall be executed with the facsimile signature of said Register of
<br />Deeds and ex officio Clerk. Said bonds and coupons and the endorsements to be
<br />printed upon the reverse of said bonds shall be in substantially the following
<br />forms:
<br />No.
<br />United States of America
<br />State of North Carolina
<br />COUNTY OF ORANGc:
<br />The County of Orange, in the State of North
<br />and for value received hereby promises to pay to
<br />be registered, to the registered owner hereof, on
<br />the principal sum of
<br />Bond
<br />Carolina, is justly indebted
<br />the bearer, or, if this bond
<br />the 1st day of June, 19_,
<br />THOUSAND DOLLARS
<br />and to pay interest thereon from the date hereof at the rate of per
<br />centum ( %) per annum until payment of such principal sum, such interest
<br />to the maturity hereof being payable semi-annually on the lst days of June and
<br />December in each year upon the presentation and surrender of the coupons
<br />representing such interest as the same respectively become due. Both the
<br />principal of and the interest on this bond are payable at Bankers Trust Company,
<br />in the Borough of Manhattan, City and State of New York, or, at the option of
<br />the holder or registered owner, at wachovia Bank and Trust Company, in the City
<br />of Raleigh, North Carolina, in any coin or currency of the United States of
<br />America which, at the respective dates of payment thereof, is legal tender for
<br />the payment of public and private debts. For the prompt payment hereof, both
<br />principal and interest as the same shall become due, the full faith and credit
<br />of said County of Orange are hereby irrevocably pledged.
<br />Here insert in the Water and Sewer Bonds, the following paragraphs:
<br />"This bond is one of a series issued by said County for the purpose
<br />of providing funds, with any other available funds, for constructing a water-
<br />works system and sanitary sewer system in said County, and this bond is issued
<br />under and pursuant to The County Finance Act, as amended, and the Local
<br />Government Act, as amended, and two orders which were approved by the vote of a
<br />majority of the qualified voters of said County who voted thereon at an election
<br />duly called and held and resolutions duly passed by the Board of Commissioners
<br />for said County.
<br />111t is hereby certified and recited that all acts, conditions and
<br />things required by the Constitution and laws of North Carolina to happen,
<br />exist and be performed precedent to and in the issuance of this bond have
<br />happened, exist and have been performed in regular and due form and time as so
<br />required; that provision has been made for the levy and collection of a direct
<br />annual tax upon all taxable property within said County sufficient to pay the
<br />principal of and the interest on this bond as the same become due; and that the
<br />total indebtedness of said County, including this bond, does not exceed any
<br />constitutional or statutory limitation thereon."
<br />and insert in the County Office Building Bonds the following paragraphs:
<br />"This bond is one of a series issued by said County for the purpose
<br />of providing funds, with any other available funds, for constructing and!
<br />equipping a county office building on land now owned by said County to provide
<br />offices and facilities for the various departments, bureaus and agencies of
<br />the County government, and this bond is issued under and pursuant to The County
<br />Finance Act, as amended, and the Local Government Act, as amended, and an order
<br />which has taken effect and resolutions duly passed by the Board of Commissioners
<br />for said County.
<br />"It is hereby certified and recited that all acts, conditions and things
<br />required by the Constitution and laws of North Carolina to happen, exist and be
<br />performed precedent to and in the issuance of this bond have happened, exist and
<br />Y. have been performed in regular and due form and time as so required; that
<br />provision has been made for the levy and collection or a direct annual tax upon
<br />all taxable property within said County sufficient to pay the principal of and
<br />the interest on this bond as the same shall become due; and that the total in-
<br />debtedness of said County, including the indebtedness evidenced by this bond and
<br />all other indebtedness theretofore contracted in the fiscal year in which the
<br />indebtedness evidenced by this bond was contracted, does not exceed any con-
<br />stitutional or statutory limitation thereon."
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