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August 21, 2006 (Regular Meeting) Page 52 or facsimile signature shall nevertheless be valid and purposes the same as if such officer had remained in deli very, and any Bond may bear the manual or facsimile persons as at the actual time of the execution of such proper officers to sign such Bond although at the date 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. sufficient for all office until such signatures of such Bond shall be the of such Bond such Section 6. The Bonds and the endorsements thereon shall be in substantially the following form: No. R- $ United States of America State of North Carolina COUNTY OF CABARRUS, NORTH CAROLINA PUBLIC IMPROVEMENT BOND, SERIES 2006 MATURITY DATE INTEREST RATE CUSIP March 1, o '6 The County of Cabarrus, North Carolina (the "County"), 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 office of the Finance Officer of said County, currently at Cabarrus County Governmental Center, 65 Church Street, SE, Concord, North Carolina, 28026 (the "Bond Registrar"), the principal sum of DOLLARS and to pay interest on such principal sum from the date hereof, or from the March 1 or September 1 next preceding the date of authentication to which interest shall have been paid, unless such date of authentication is a March 1 or September 1 to which interest shall have been paid, in which case from such date, such interest to the maturity hereof being payable on March 1, 2007 and semiannually thereafter on September 1 and March 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 person at his address as it appears on the bond registration books of said County. Both the principal of and the interest on this Bond shall be paid in any coin or currency of the United States of America that is legal tender for the payment of public and pri vate debts on the respective dates of payment thereof. For the prompt payment hereof, both principal and interest as the same shall become due, the faith and credit of said County of Cabarrus are hereby irrevocably pledged. [Printed Bonds are to include the following paragraph] ADDITIONAL PROVISIONS OF THIS BOND ARE SET FORTH ON THE REVERSE HEREOF AND SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. [Reverse Side of Printed Bonds] This Bond is one of an issue of Bonds designated "Public Improvement Bonds, Series 2006" (the "Bonds") and issued by the County for the purpose of providing funds, with any other available funds, for the acquisition, construction, renovation and equipping of certain of the County's school facili ties in said County. This Bond is issued under and pursuant to The Local Government Bond Act, as amended, Article 7, as amended, of Chapter 159 of the General Statutes of North Carolina, a bond order adopted by the Board for said County which has taken effect as provided by law, and a resolution duly passed by said Board (the "Resolution"). The Bonds maturing prior to March 1, 2017 are not subject to redemption prior to maturity. The Bonds maturing on March 1, 2017 and thereafter may be redeemed, at the option of said County, from any moneys that may be made available for such purpose, either in whole or in part on any date not earlier than March 1, 2016, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed, together with interest accrued thereon to the date fixed for redemption.