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the redemption premium, if any, and interest thereon, to the extent <br />of the sum or sums so paid. <br /> <br /> The Issuer shall appoint such registrars, transfer agents, <br />depositaries or other agents as may be necessary for the <br />registration, registration of transfer and exchange of Bonds within <br />a reasonable time according to then current commercial standards <br />and for the timely payment of principal, interest and any <br />redemption premium with respect to the Bonds. The Issuer is to act <br />as the initial registrar, transfer agent and paying agent for the <br />Bonds (collectively the "Bond Registrar"), subject to the right of <br />the governing body of the Issuer to appoint another Bond Registrar. <br />The Director of Finance (or such other officer who shall from time <br />to time perform the duties of finance officer within the meaning of <br />N.C.G.S. Section 159-24, as it may be amended from time to time, or <br />any successor statute) is hereby designated to act on behalf of the <br />Issuer in carrying out its responsibilities as Bond Registrar, <br />subject to the right of the governing body of the Issuer to <br />designate another officer to act on its behalf, and as such shall <br />keep at the office of the Director of Finance the books .of the <br />Issuer for the registration, registration of transfer, exchange and <br />payment of the Bonds. <br /> <br /> Section 7. There may be printed on the reverse of each of any <br />printed Bonds the legal opinion of Smith Helms Mulliss & Moore, <br />L.L.P., bond counsel to the Issuer, with respect to the validity of <br />the Bonds, and there may be printed immediately following such <br />legal opinion a certificate bearing the manual or facsimile <br /> <br />24 <br /> <br /> <br />