BC 1986 09 22 - Laserfiche WebLink

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526 the Board of Commissioners for Cabarrus County, North Carolina, as the govern- ing body of the Issuer, shall be the Bond Registrar; provided, however, that, in the event that a bond registered in the name of the FmHA is assigned, the paying agent with respect to such bond shall be First Union National Bank, in the City of Charlotte, North Carolina. Section 5. The bonds shall bear the facsimile signatures of or be executed by the Chairman of and the Clerk to the Board of Commissioners for Cabarrus County, North Carolina, as the governing body of the Issuer, and the corporate seal of the Issuer shall be impressed or a facsimile thereof shall be imprinted on the bonds. The certificate of the Local Government CommisSion of North Carolina to be endorsed on all bonds shall bear the facsimile signature of or be executed by the Secretary of said Commission and the certificate of authentication of the Bond Registrar to be endorsed on all bonds shall be executed as provided hereinafter. In case any officer of the Board of Commissioners for Cabarrus County, North Carolina, as the governing body of the Issuer, or the Local Government Commission of North Carolina whose facsimile signature shall appear on any bonds shall cease to be such officer before the delivery of such bonds, such facsimile signature shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery, and any bond may bear the facsimile signatures of such persons who at the actual time of the execution of such bond shall be the proper officers to sign such bond although at the date of such bond such persons may not have been such officers. No bond shall be valid or become obligatory for any purpose or be entitled to any benefit or security under this resolution until it shall have been authenticated by the execution by the Bond Registrar of the certificate of authentication endorsed thereon. The bonds, other than a bond registered in the name of the FmHA, and the endorsements thereon shall be in substantially the following forms: [Front Side of Bond] No ...... United States of America $ .... State of North Carolina County of Cabarrus WATER AND SEWER DISTRICT OF CABARRUS COUNTY Maturity Date Water Bond Interest Rate Cusip The Water and Sewer District of Cabarrus County, a body politic and corporate in Cabarrus County, North Carolina, is justly indebted and for value received hereby promises to pay to or registered assigns or legal representative on the date specified above (or earlier as hereinafter referred to), upon the presentation and surrender hereof, at the corporate trust office of First Union National Bank, in the City of Charlotte, North Carolina (the "Bond Registrar"), the principal sum of ........................ DOLLARS and to pay interest on such principal sum from the date hereof or from the June 1 or December 1 next preceding the date of authentication to which interest shall have been paid, unless such date of authentication is a June 1 or December 1 to which interest shall have been paid, in which case from such date, such interest to the maturity hereof being payable on June 1 and December 1 in each year, at the rate per annum specified above, until payment of such principal sum. The interest so payable on any such interest payment date will be paid to the person in whose name this bond (or the previous bond or bonds evidencing the same debt as that evidenced by 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 payment date, by check mailed to such