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No. R~ <br /> <br />MATURITY DATE <br /> <br />[Front Side of Printed Bonds] <br /> <br /> United States of America <br /> State of North Carolina <br /> <br />COUNTY OF CABARRUS, NORTH CAROLINA <br />General Obligation Refunding Bonds, Series 2003 <br />INTEREST RATE CUSIP <br /> <br /> The County of Cabarms, North Carolina (the "Issuer"), is justly indebted and for value <br />received hereby promises to pay to <br />or registered assigns or legal representative on the date specified above (or earlier as hereinafter <br />referred to), upon the presentation and surrender hereof, at the office of the Finance Officer of <br />the Issuer, currently at Cabarrus County Governmental Center, 65 Church Street SE, Concord, <br />North Carolina 28026 (the "Bond Registrar"), the principal stun of <br /> <br /> DOLLARS <br /> <br />and to pay interest on such principal sum fi:om the date hereof or fi:om the March 1 or <br />September 1 next preceding the date of authentication to which interest shall have been paid, <br />unless such date of authentication is a March 1 or September 1 to which interest shall have been <br />paid, in which case fi:om such date, such interest to the maturity hereof being payable on March <br />1, 2004 and semiannually thereafter on September 1 and March 1 in each year, at the rate per <br />annum specified above, until payment of such principal sum. The interest so payable on any <br />such interest payment date will be paid to the person in whose name this Bond (or the previous <br />Bond or Bonds evidencing the same debt as that evidenced by this Bond) is registered at the <br />close of business on the record date for such interest, which shall be the 15th day (whether or not <br />a business day) of the calendar month next preceding such interest payment date, by check <br />mailed to such person at his address as it appears on the bond registration books of the Issuer. <br />Both the principal of and the interest on this Bond shall be paid in any coin or currency of the <br />United States of America that is legal tender for the payment of public and private debts on the <br /> <br />7 <br /> <br /> <br />