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413
<br />
<br /> Section 3. The Bonds shall bear the manual or facsimile signatures of the
<br />Chair of the Board of Commissioners for the Issuer and the Clerk to said Board
<br />and the corporate seal or a facsimile of the corporate seal of the Issuer shall
<br />be impressed or imprinted, as the case may be, on the Bonds.
<br /> The certificate of the Local Government Commission of North Carolina to be
<br />endorsed on all Bonds shall bear the manual or facsimile signature of the
<br />Secretary of said Commission and the certificate of authentication of the Bond
<br />Registrar to be endorsed on all Bonds shall be executed as provided hereinafter.
<br /> In case any officer of the Issuer or the Local Government Commission of
<br />North Carolina whose manual or facsimile signature shall appear on any Bonds
<br />shall cease to be such officer before the delivery of such Bonds, such manual or
<br />facsimile signature shall nevertheless be valid and sufficient for all purposes
<br />the same as if he had remained in office until such delivery, and any Bond may
<br />bear the manual or facsimile signatures of such persons as at the actual time of
<br />the execution of such Bond shall be the proper officers to sign such Bond
<br />although at the date of such Bond such persons may not have been such officers.
<br /> No Bond shall be valid or become obligatory for any purpose or be entitled
<br />to any benefit or security under this resolution until it shall have been
<br />authenticated by the execution by the Bond Registrar of the certificate of
<br />authentication endorsed thereon.
<br /> The Bonds to be registered in the name of Cede & Co. and the endorsements
<br />thereon shall be in substantially the following forms:
<br />
<br />No. R- . .....
<br />
<br />United States of America
<br />State of North Carolina
<br />
<br /> COUNTY OF CABARRUS
<br />REFUNDING BOND, SERIES 1993
<br />
<br />Maturity Date Interest Rate Cusip
<br />
<br /> The County of Cabarrus, in the State of North Carolina, is justly in-
<br />debted and for value received hereby promises to pay to
<br /> CEDE & CO.
<br />or registered assigns or legal representative on the date specified above, upon
<br />the presentation and surrender hereof, at the office of the Finance Director of
<br />said County (the "Bond Registrar"), the principal sum of
<br /> ..................... DOLLARS
<br />and to pay interest on such principal sum from the date hereof or from the March
<br />1 or September 1 next preceding the date of authentication to which interest
<br />shall have been paid, unless such date of authentication is a March 1 or
<br />September 1 to which interest shall have been paid, in which case from such date,
<br />such interest to the maturity hereof being payable on March 1, 1994 and
<br />semiannually thereafter on March 1 and September 1 in each year, at the rate per
<br />annum specified above, until payment of such principal sum. The interest so
<br />payable on any such interest payment date will be paid to the person in whose
<br />name this bond (or the previous bond or bonds evidencing the same debt as that
<br />evidenced by this bond) is registered at the close of business on the record date
<br />for such interest, which shall be the 15th day (whether or not a business day)
<br />of the calendar month next preceding such interest payment date, by check mailed
<br />to such person at his address as it appears on the bond registration books of
<br />said County. Both the principal of and the interest on this Bond shall be paid
<br />in any coin or currency of the United States of America'that is legal tender for
<br />the payment of public and private debts on the respective dates of payment
<br />thereof. For the prompt payment hereof, both principal and interest as the same
<br />shall become due, the faith and credit of said County of Cabarrus are hereby
<br />irrevocably pledged.
<br /> This bond is one of an issue of bonds designated "Refunding Bonds, Series
<br />1993" (the "Bonds") and issued by said County for the purpose of providing funds,
<br />with any other available funds, for refunding certain outstanding School Bonds,
<br />Series B, dated May 1, 1980, School Bonds, Series 1989, dated March 1, 1989,
<br />Technical College Bonds, dated March 1, 1989, Water Bonds, Series 1989, dated
<br />March 1, 1989, and School Bonds, Series 1990, dated August 1, 1990, of said
<br />County, including paying expenses related thereto, and this bond is issued under
<br />and pursuant to The Local Government Bond Act, as amended, Article 7, as amended,
<br />
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