BC 1986 09 22 - Laserfiche WebLink

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531 Year of Principal Year of Principal Maturity Amount Maturity Amount 1989 $ 2008 1990 2009 1991 2010 1992 2011 1993 2012 1994 2013 1995 2014 1996 2015 1997 2016 1998 2017 1999 2018 2000 2019 2001 2020 2002 , 2021 2003 2022 2004 2023 2005 2024 2006 2025 2007 and to pay interest from the date hereof on the unpaid part of such principal sum at the rate of seven and six hundred twenty-five one thousandths per centum (7.625%) per annum until payment thereof, such interest to the maturity hereof being payable on June 1, 1987 and annually thereafter on June 1 in each year. The interest so payable on any such interest payment date will be paid to the person in whose name this bond is registered at the close of business on the record date for such interest, which shall be the 15th day (whether or not a business day) of the calendar month next preceding such interest date. Both the principal of and the interest on this bond are payable 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. During the time that the United States of America, Farmers Home Admin- istration, is the registered owner of this bond, payment of the installments of principal and interest when due and payable on this bond shall be made at the National Finance Office of the Farmers Home Administration in St. Louis, Missouri, or at the office of such fiscal agent as the United States of America, Farmers Home Administration, shall designate without presentation or surrender hereof and, during any such time as an assignee hereof is the registered owner of this bond, payment of the installments of principal when due and payable on this bond shall be made at First Union National Bank, in the City of Charlotte, North Carolina, and payment of the interest when due and payable on this bond shall be made by check mailed to such assignee at his address as it appears on the bond registration books of said District herein- after mentioned without presentation or surrender hereof. Upon receipt of said payments of principal and interest, written acknowledgment of the receipt thereof shall be given promptly to the Bond Registrar hereinafter mentioned and said District shall be fully discharged of its obligation on this bond to the extent of the payment so made. Upon final payment this bond shall be surrendered to the Bond Registrar for cancellation. For the prompt payment hereof, both principal and interest as the same shall become due, the full faith and credit of said Water and Sewer District of Cabarrus County, are hereby irrevocably pledged. This bond is duly authorized and issued under and pursuant to Article 6, as amended, of Chapter 162A of the General Statutes of North Carolina, The Local Government Bond Act, as amended, Article 7, as amended, of Chapter 159 of the General Statutes of North Carolina, an order which was approved by the vote of a majority of the qualified voters of said District who voted thereon at a referendum duly called and held, and a resolution duly passed by the Board of Commissioners of Cabarrus County, North Carolina, as the governing body of said District, for the purpose of providing funds, with any other available funds, for constructing a portion of a water system for said District.