BC 1948 08 02 - Laserfiche WebLink

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each ye ~r, both the principal of and the interest on said bonds to be payable at Chase N Ltional Bank of the City of New York, in New York City, in any coin or cu:.~ency of the lnited States of America which, at the respective dated of payment the~eo:;, is le~l ~.r f~ the payment of public and private debts. Section 3. That said $2,337,000 school building bonds may be issued frol tim~ to time in amounts as may be determined by resolution of the Board of Commission. rs for the Co~ty of Cabarrus and said bonds shall~ee designated "School Building Bonds Series __", the bonds to be issued at any one time to be designated by a ,d~eren~ series letter. Section 4, That said $2,33?,000 school building bonds shall be signed bl~ the ~hatrmm~ of the Board of ~nnissioners and the Register of ~ed~ and ex officio llerk of said Beard, under the corporate seal of the said County, and the annexec tnteres~ coupons shall b~ executed with the facsimile signature of said ~egister of Deeds and ex .fficio ~" Clerk. Said bonds and coupons and the endorsements to be printed upon the rever~e of ~- said bo~ ~ds shall be in substantially the following forms: United States of A~z~ca State of North Carolina County of Cabarrus School Building Bond, Series . . . . The County of Cabarrus, in the State of North Carolina, is Justly indebt, d and for valise received hereby promises to pay to the bearer or, if this ~nd be regil tered, to the ~'egistered owner hereof, on the first day of MaFch, 19~ , the principa, sum of ONE THOUSAND DOLIARS togethe~ with interest thereon at the rate of per centum per annum, payab~ e semi- ~nually on the first days of March and September of each year upon the presentation and surrend~,r of the annexed interest coupons as they severally become duel Both the principal ~f and t~he interest on this bond areppayable at The Chase National Bank of the City of ~ew Yo~:, in New York City, in any coin or currency of the United States of America whi~, ~t the ~espective dated of payment thereo~, is legal tender for the pa2mmnt of p~blic ~rivate debts. Fe~ the prompt payment hereof, both principal and interest as the same sh ~ecome ue, the full faith ~nd credit of said County are hereby inrevocably pledged. ~This bond is one of a series issued by said County, ecttng as an administrative' ~gent o~ the State of North C~arolin. a in providing a State system of~ public· schools, for. ~he pur~ ose of enlarging and erecting school buildings and acquiring necessary equipmeh% ~n orde~ to maintain the c~stitutional six months' school term in said County, snd thia !--' ~ond is issued under and pursuant to The County Finance Act, as amended, and the Local ~ernm~ at Act, as amended, and two orders each of which was approved by the vot~ of a maJorit[ of the qualified voters of said County who voted at an election duly called .an. held, aad resolutions duly passed by the Board of Co~_~ssioners for said County. It is hereby certified and recited that all acts, conditions and things ~ squired ,~ to happen, exist and be performed preddent to and in the issuance of this bond ky the