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of New York, in any coin or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. For the prompt payment hereof, both principal and interest as the same shall become due, the full faith and credit of said County are hereby irrevocably pledged. This bond is one of a series of bonds issued by said County for the purpose of providing funds, with any other available funds, for providing additional school facilities in said County, and this bond is issued under-and pursuant to The Local Government Bond Act, as amended, Article 7, as amended, of Chapter 159 cf the General Statues of North Carolina, an order which was approved by the vote of a majority of the qualified voters of said County who voted thereon at a referendum duly called and held, and a resolu- tion duly passed by the Board of Commissioners for said County. The bonds of this series at the time outstanding maturing prior to May 1, 199~ are not.subject to redemption prior to maturity. The bonds of this series maturing on May 1, 1991 and thereafter may be redeemed, at the option of said County, from any moneys that may be made available for such purpose, either in whole on any date not earlier than May 1, 1990 or in part on any interest payment date not earlier than May 1, 1990, at the principal amount of the bonds to be redeemed, together with interest accrued thereon to the date fixed for redemption, plus a premium of 1/2 of 1% of the principal amount fo~'each calendar year or part thereof between the redemption date and the maturity date of each bond to be redeemed, such premium not to exceed 2% of such principal amount.