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<br /> Section 4. Said bonds maturing prior to May 1, 1991 will not be subject
<br />to redemption prior to maturity. Said bonds maturing on May 1, 1991 and
<br />thereafter will be redeemable, at the option of said County, from any moneys
<br />that may be made available for such purpose, either in whole on any date
<br />not earlier than May 1, 1990, ~or in part on any interest payment date not
<br />earlier than May 1, 1990, at the principal amount of said bonds to be
<br />redeemed, together with interest accrued thereon to the date fixed for
<br />redemption, plus a premium of 1/2 of 1% of the principal amount for each
<br />calendar year or part thereof between the redemption date and the maturity
<br />date of each bond to be redeemed, such premium not to exceed 2% of such
<br />principal amount.
<br /> If less than all of said bonds of any one maturity shall be called for
<br />redemption, the particular bonds of such maturity to be redeemed shall be
<br />selected by lot by said County. is such manner as said County in its discretion
<br />may determine, and, if less than all Of said bonds stated to mature on different
<br />dates shall be called for redemption, the particular bonds to be redeemed shall
<br />be called in the inverse order of their maturities.
<br /> At least thirty (30) days before the redemption date of any of said bonds,
<br />whether such redemption be in whole or in part, said County shall cause a
<br />notice of such redemption to be published once in a daily newspaper of general
<br />circulation in the City of Charlotte, North Carolina, and in a daily newspaper
<br />of general circulation or a financial journal distributed in the Borough
<br />of Manhattan, City and State of New York. On the date designated for redemption,
<br />notice having been published as aforesaid, said. bonds so called for redemption
<br />shall become and be due and payable at the redemption price provided for the
<br />redemption of such bonds on such date, and, if moneys for payment 6f the
<br />redemption price and the accrued interest are held by the paying agents for
<br />said bonds, interest on said bonds so called for redemption shall cease to
<br />accrue, the coupons for any such interest payable' subsequent to said redemPtion
<br />date shall be void, said bonds so called for redemtpion shall cease to be
<br />entitled to any benefit Or security under said order or this resolution, and
<br />the holders or registered owners of said bonds so called for redemption shall
<br />have no rights in respect thereof eXcept to receive payment of the redemption price
<br />thereof and the accrued interest so held by said paying agents.
<br /> Section 5. Said bonds shall be registrable as to principal only in
<br /> accordance with the provisions for registration hereinabove in this resolution
<br /> provided to be endorsed upon said bonds, and the Clerk of the Board of
<br /> Commissioners for said County is hereby appointed Bond Registrar for the
<br /> registration and registration of transfer of said bonds, subject to the right
<br /> of the governing body of the County of Cabarrus hereafter to appoint another
<br /> Bond Registrar. No charge shall be made to any bondholder for the privilege
<br /> of registration and registration of transfer herein granted.
<br /> Section 6. The actions of the County Manager and the Finance Officer of
<br /> said County in applying to the Local Government Commission of North Carolina
<br /> to advertise and sell said bonds and the actions of the Local Government
<br /> Commission of North Carolina in asking for sealed bids for said bonds by
<br /> publishing notices and printing and distributing an official statement relating
<br /> to the sale of said bonds are hereby approved. Such official statement, dated
<br /> March 28, 1980, is hereby approved and the Chairman of the Board of
<br /> Commissioners for said County, said County Manager and said Finance Officer are
<br /> each hereby authorized to execute such official statement for and on behalf of
<br /> said County.
<br /> Section 7. There shall be printed on the reverse of each of said bonds to
<br /> be issued under date of May 1, 1980 the legal opinion of Brown, Wood, Ivey,
<br /> Mitchell & Petty, bond counsel ~o the County of Cabarrus, with respect to the
<br /> validity of said bonds, and there shall be printed immediately following such
<br /> legal opinion a certificate executed with the facsimile signature of the
<br /> Chairman of the Board of Commissioners for said County, said certificate to be
<br /> in substantially the following form:
<br />
<br /> "I HEREBY CERTIFY that the foregoing is a
<br />true and correct copy of the legal opinion on
<br />the bonds therein described which was manually
<br />signed by Brown, Wood, Ivey, Mitchell & Petty,
<br />New York, N.Y., and was dated as of the date of
<br />delivery of and payment for said bonds.
<br />
<br /> (Facsimile signature)
<br />Chairman of the Board of
<br />Commissioners for the County
<br />of Cabarrus, North Carolina"
<br />
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