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3, The bonds shall be dated June 1, 1978 and shall <br />bear interest from their date at a rate or rates which shall be <br />hereafter determined upon the public sale thereof and such <br />interest shall be payable semi-annually on June 1 and December 1, <br />4, The bonds shall be coupon bonds, registrable as to <br />principal only, and shall bear the facsimile signatures of the Chair- <br />mand and Clerk of the County Board of Commissioners. A facsimile <br />of the corporate seal of the County shall be imprinted upon each of <br />the Bonds. Each of the interest coupons to be attached to the bonds <br />shall be authenticated by the facsimile signature of said Clerk, <br />5, Both principal of and interest on the bonds shall be pay- <br />able at the Principal office of First-Citizens Bank and Trust Company <br />Raleigh, North Carolina, or at the option of the holder or registered <br />owner, at the principal office of Chemical Bank, New York, New <br />York, in such coin or currency of the United States of America as at <br />the time of payment shall be legal tender for the payment of public <br />and private debts, <br />6o Each of the bonds and the interest coupons representing <br />the interest payable thereon and the provisions for the registration of <br />the bonds and for the approval of the bonds by the Secretary of the <br />Local Government Commission to be endorsed thereon shall be in <br />substantially the following form: <br />(Form of Bond) <br />No, No, <br />UNITED STATES OF AMERICA <br />STATE OF NORTH CAROLINA <br />COUNTY OF LEE <br />$5,000 $5,000 <br />WATER BOND <br />The COUNTY OF LEE (hereinafter referred to as <br />"County"), a county of the State of North Carolina, acknowledges <br />itself indebted and for value received hereby promises to pay to <br />the bearer of this bond, or, if it be registered, then to the regis- <br />tered holder, the principal sum of <br />FIVE THOUSAND DOLLARS ($5, 000) <br />on June 1, 19 , and to pay interest thereon from the date of <br />this bond until it shall mature at the rate of per centum <br />( °/r) per annum, payable semi-annually on June 1 and Dec- <br />ember 1 in each year, upon presentation and surrender of the <br />coupons therefor attached hereto, as they severally mature. Both <br />principal of and interest on this bond are payable at the principal <br />office of First-Citizens Bank and Trust Company, Raleigh, North <br />Carolina, or, at the option of the holder or registered owner, at <br />the principal office of Chemical Bank, New York, New York, in <br />such coin or currency of the United States of America as at the time <br />of payment shall be legal tender for the payment of public and private <br />debts. <br />This bond may be registered as to principal only by the <br />holder in his name on the bond register of the County kept in the <br />office of the Bond Registrar of the County, and such registration <br />shall be noted hereon by said Bond Registrar, If so registered, <br />this bond may be transferred on said bond register by the regis- <br />tered owner in person or by attorney, upon presentation of this <br />