AG 1996 12 16 - Laserfiche WebLink

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192 DRAFT In certain events, the County may replace the Securities Depos£tory at the time with another qualified Securities Depository, In certaln events, the County may discontinue the book-entry system and deliver replacement Bonds in the form of fully registered certificates in the denomination of $5,000 or any whole multiple thereof in exchan§e for the outstanding Bonds as provided In the Resolution. At the office of the Bond Registrar, in the manner and subject to the conditions provided in the Resolution, Bonds may be exchanged for an equal aggregate principal amount of Bonds of the sa~e maturity, of authorized denominations and bearing interest at the same rate. The Bond Registrar shall keep at its office the books of the County for the registration of transferor Bonds. The transfer of this Bond maybe registered only upon such books and as otharwfse provided in the Resolution upon the surrender hereof to the Bond Registrar together wtth an assignment duly executed by the registered owner hereof or his attorney or legal representative in such form as shall be satisfactory tot he Bond Registrar. Upon any such registration of transfer, the Bond Registrar shall authenticate and deliver in exchange for this Bond a new Bond or Bonds, registered in the name of the transferee, of authorized denominations, In an aggregate principal amount equal to the unredeemed prin¢fpalamount of this Bond, of the same maturlty and bearing interest at the same rate. The Bond Registrar shall not he required to exchange or register the transfer of any Bond during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Bonds or any portlon thereof and endlng at the close of business on the day of such maillng or of any Bond called for redemption In whole or in part pursuant to the Resolution. It is hereby certified and recited that all acts, conditions and things required by the Constitution and laws of North Carolina to happen, exist and be performed precedent to and In the issuance of this Bond have happened, exist and have been performed In regular and due form and time as so required; that provision has been made for the levy and collection of a dlrect annual tax upon all taxable property wlthfn said County sufficient to pay the principal of and the interest on this Bond as the same shall become due; and that the total indebtedness of said County, including this Bond, does not exceed any constitutional or statutory limitation thereon. [The following paragraphs throu§h the Certificate of Authentication are to appear on the front slde cf printed Bonds] This Bond shall not be valid or become obligatory for any purpose or be entitled to any beneflt or securlty under the Resolution until thls ~ond shall have been authenticated by the execution by the Bond Registrar of the certificate of authentication endorsed hereon. IN WITNESS ~HEREOF. sald County of Cabarrus, by resolution duly passed by its Board of Commissioners, has caused this Bond [to be manually slgned by] Itc bear the facsimile s£gnatures of~ the Chairman of sald Board and the Clerk to said Board and [a facsimile of1 its corporate seal to be Iprlntedl [impressed] hereon, all as of the day of , 1997. (Seal] CERTIFICATE [Manual or Facsimile SE&nature] Chairman of the Board of Commissioners [Manual or Facsimile Sl~nature] Clerk to the Board of Commissioners OF LOCAL GOVERNMENT COMMISSION The issuance of the within Bond has been approved under the provisions of The Local Government Bond Act of North Carolina. [Manual or Facsimile Signature] Secretary, Local Government Commission [By: [Designated Assistant] CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds of the series designated herein and issued under the provisions of the within-mentioned Resolution. Date of authentication: County of Cabarrus, North Carolina as Bond Registrar By: Director of Finance