BC 1996 11 18 - Laserfiche WebLink

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192 In certain events, the County may replace the Securities Depository at the time with another qualified Securities Depository. In certain events, the County may discontinue the book-entry system and deliver replacement Bonds in the form of fully registered certificates in the denomination of $5,000 or any whole multiple thereof in exchange for the outstanding Bonds as provided in the Resolution. At the office of the Bond Registrar, in the manner and subject to the conditions provided in the Resolution, Bonds may be exchanged for an equal aggregate principal amount of Bonds of the same maturity, of authorized denominations and bearing interest at the same'rate. The Bond Registrar shall keep at its office the books of the County for the registration of transfer of Bonds. The transfer of this Bond may be registered only upon such books and as otherwise provided in the Resolution upon the surrender hereof to the Bond Registrar together with an assignment duly executed by the registered owner hereof or his attorney or legal representative in such form as shall be satisfactory to the Bond Registrar. Upon any such registration of transfer, the Bond Registrar shall authenticate and deliver in exchange for this Bond a new Bond or Bonds, registered in the name of the transferee, of authorized denominations, in an aggregate principal amount equal to the unredeemed principal amount of this Bond, of the same maturity and bearing interest at the same rate. The Bond Registrar shall not be required to exchange or register the transfer of any Bond during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Bonds or any portion thereof and ending at the close of business on the day of such mailing or of any Bond called for redemption in whole or in part pursuant to the Resolution. It is hereby certified and recited that all acts, conditions and things required by the Constitution and laws of.North Carolina to happen, exist and be performed precedent to and in the issuance of this Bond have happened, exist and have been performed in regular and due form and time as so required; that provision has been made for the levy and collection of a direct annual tax upon all taxable property within said County sufficient to pay the principal of and the interest on this Bond as the same shall become due; and that the total indebtedness of said County, includi~g this Bond, does not exceed any constitutional or statutory limitation thereon. [The following paragraphs through the Certificate of Authentication are to appear on the front side of printed Bonds] This Bond shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Resolution until this Bond shall have been authenticated by. the execution by the Bond Registrar of the certificate of authentication endorsed hereon. IN WITNESS WHEREOF, said County of Cabarrus, by resolution duly passed by its Board of Commissioners, has caused this Bond [to be manually signed by] [to bear the facsimile signatures of] the Chairman of said Board and the Clerk to said Board and [a facsimile of] its corporate seal to be [printed] [impressed] hereon, all as of the day of , 1997. [Seal] .[Manual or Facsimile Signature] Chairman of the Board of Commissioners .[Manual or Facsimile Signature]. Clerk to the Board of Commissioners CERTIFICATE OF LOCAL GOVERNMENT COMMISSION The issuance of the within Bond has been approved under the provisions of The Local Government Bond Act of North Carolina. [Manual or Facsimile Si~n. ature] Secretary, Local Government Commission [By: [Designated Assistant] ' CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds of the series designated herein and issued under the provisions of the within-mentioned Resolution. Date of authentication: County of Cabarrus, North Carolina as Bond Registrar By: Director of Finance