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529
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<br />fifteen (15) days before the day of the mailing of a notice of redemption of
<br />bonds or any portion thereof and ending at the close of business on the day of
<br />such mailing or (ii) any bond called for redemption in whole or in part
<br />pursuant to the Resolution.
<br />
<br /> It is hereby certified and recited that all acts, conditions and things
<br />required by the Constitution and laws of North Carolina to happen, exist and
<br />be performed precedent to and in the issuance of this bond have happened,
<br />exist and have been performed in regular and due form and time as so required;
<br />that provision has been made for the levy and collection of a direct annual
<br />tax upon all taxable property within said District sufficient to pay the
<br />principal of and the interest on this bond as the same shall become due; and
<br />that the total indebtedness of said District, including this bond, does not
<br />exceed any constitutional or statutory limitation thereon.
<br />
<br /> Reference is hereby made to the supplemental opinion of Brown & Wood, New
<br />York, New York, bond counsel, delivered in connection with the issuance of
<br />this bond, for certain information relating to the exemption from federal
<br />income taxation of the interest on this bond.
<br />
<br />ASSIGNMENT
<br />
<br /> FOR VALUE RECEIVED the undersigned registered owner thereof hereby sells,
<br />assigns and transfers unto
<br />
<br />the within bond and all rights thereunder and hereby irrevocably constitutes
<br />and appoints
<br /> attorney
<br />
<br />to register the transfer of said bond on the books kept for registration
<br />thereof, with full power of substitution in the premises.
<br />
<br />Dated:
<br />
<br />Signature Guaranteed:
<br />
<br />NOTICE: The assignor's signature to this assignment must correspond with the
<br />name as it appears upon the face of the within bond in every particular,
<br />without alteration or enlargement or any change whatever.
<br />
<br /> Section 6. If the FmHA is the initial purchaser of the bonds, there will
<br />be issued two registered bonds of the Issuer of the denominations of
<br />$5,574,000 and $1,697,000, designated "Water Bond, Series A" and "Water Bond,
<br />Series B", respectively, and number R-A1 and R-B1, respectively.
<br />
<br /> Said Water Bond, Series A shall be stated to mature in annual install-
<br />ments on the 1st day of June in the following years and in the following
<br />amounts, respectively:
<br />
<br />Year of Principal Year of Principal
<br />Maturity Amount Maturity Amount
<br />
<br />1989 $ 53,000 2008 $193,000
<br />1990 57,000 2009 193,000
<br />1991 61,000 2010 193,000
<br />1992 66,000 2011 193,000
<br />1993 71,000 2012 193,000
<br />1994 76,000 2013 193,000
<br />1995 82,000 2014 193,000
<br />1996 88,000 2015 193,000
<br />1997 95,000 2016 193,000
<br />1998 102,000 2017 193,000
<br />1999 110,000 2018 193,000
<br />2000 118,000 2019 193,000
<br />2001 127,000 2020 193,000
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