BC 1971 11 01 - Laserfiche WebLink

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in numerical order, Lowest numbers first, $15,000 1973 and $25,000 1974 to 1987, inclusiye, without option, of prior payment, and bear interest from their date at a rate or rates to be determined by the Local Government Commission at the time the bonds are sold, which interest to the maturity thereof shall be payable semi- annually on the 1st days of June and December of each year, and both the principal of and the interest on said bonds shall be payable at the Chase Manhattan Bank (National Association), in the Borough of Manhattan, City and State of New York, in any coin or currency of the United States of AmericaTwhich, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Section 3. The $365,000 School Building Bonds to be issued by the County of Cabarrus under date of December 1, 1971, shall be executed with the facsimile signatures of the Chairman of the Board of Commissioners and the Clerk of said Board, and a facsimile of the corporate seal of said Board shall be imprinted on the bonds, and the interest coupons to be attached to said bonds shall be executed with the facsimile signature of said Clerk. Said bonds and coupons and the endorsements to be printed upon the reverse of said bonds shall be in substantially the following forms: No. United States of America State of North Carolina COUNTY OF CABARRUS School Building Bond The County of Cabarrus, in the State of North Carolina, is justly indebted and for value received hereby promises to pay to the bearer, or if this bond be registered, to the registered owner hereof, on the 1st day of December, 19__, the principal sum of FIVE THOUSAND DOLLARS and to pay interest thereon from the date hereof at the rate of per centum ( %) per annum until payment of such principal sum, such interest to the maturity hereof being payable semi-annually on the 1st days of June and December in each year upon the presentation and surrender of the coupons repre- senting such interest as the same respectively become due. Both the principal of and the interest on this bond are payable at The Chase Manhattan Bank (National Association), in the Borough of Manhattan, City and State 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 of Cabarrus are hereby irrevocably pledged.