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<br />funds, for the acquisition, construction, renovation and equipping of certain of the County's <br /> <br />school facilities in said County. This Bond is issued under and pursuant to The Local <br /> <br />Government Bond Act, as amended, Article 7, as amended, of Chapter 159 of the General <br /> <br />Statutes of North Carolina, a bond order adopted by the Board for said County which has taken <br /> <br />effect as provided by law, and a resolution duly passed by said Board (the "Resolution"). <br /> <br />The Bonds maturing prior to [February 1], 20_ are not subject to redemption prior to <br /> <br />maturity. The Bonds maturing on [February 1], 20_ and thereafter may be redeemed, at the <br /> <br />option of said County, from any moneys that may be made available for such purpose, either in <br /> <br /> <br />whole or in part on any date not earlier than [February 1], 20_, at the principal amount of the <br /> <br /> <br />Bonds to be redeemed, together with interest accrued thereon to the date fixed for redemption, <br /> <br /> <br />[plus a redemption premium of 1/2 of 1 % of the principal amount of each Bond to be redeemed <br /> <br /> <br />for each period of 12 months or part thereof between the redemption date and the maturity date <br /> <br /> <br />of such Bond, such premium not to exceed 2% of such principal amount]. <br /> <br /> <br />If less than all of the Bonds of anyone maturity shall be called for redemption, the <br /> <br />particular Bonds or portions of Bonds of such maturity to be redeemed shall be selected by lot in <br /> <br />such manner as the County in its discretion may determine; provided, however, that the portion <br /> <br />of any Bond to be redeemed shall be in the principal amount of $5,000 or some whole multiple <br /> <br />thereof and that, in selecting Bonds for redemption, each Bond shall be considered as <br /> <br /> <br />representing that number of Bonds which is obtained by dividing the principal amount of such <br /> <br /> <br />Bond by $5,000. If less than all of the Bonds stated to mature on different dates shall be called <br /> <br /> <br />for redemption, the particular Bonds or portions thereof to be redeemed shall be called in such <br /> <br /> <br />maturities and amounts of those maturities as shall be determined by the County. <br /> <br />9 <br /> <br />Q...~ <br />