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bond to the Bond Registrar with a written instrument of <br />transfer in a form approved by said Bond Registrar and <br />executed by said registered owner. If this bond be so <br />registered, the principal shall thereafter be payable only <br />to the person in whose name it is registered, unless this <br />bond shall be discharged from registry by being registered <br />as payable to bearer. Such registration shall not affect the <br />negotiability of the coupons which shall continue to pass by <br />delivery. <br />This bond is issued pursuant to Subchapter IV of The <br />Local Government Finance Act and a bond order adopted by the <br />Board of Commissioners of the County on April 5, 1971 to finance <br />the construction of water facilities. The issuance of this bond and <br />the contracting of the indebtedness evidenced thereby have been <br />approved by a majority of the qualified voters of the County voting <br />at an election held in the County on June 8, 1971. <br />It is hereby certified and recited that all conditions, acts <br />and things required by the Constitution or statutes of the State of <br />North Carolina to exist, be performed or happen precedent to or in <br />the issuance of this bond, exist, have been performed and have happ- <br />ened, and that the amount of this bond, together with all other indebt- <br />edness of the County, is within every debt and other limit prescribed <br />by said Constitution or statutes. The faith and credit of the County <br />are hereby pledged to the punctual payment of the principal of and <br />interest on this bond in accordance with its terms, <br />IN WITNESS WHEREOF, the County has caused this bond <br />to bear facsimiles of the signatures of the Chairman and Clerk of <br />the County Board of Commissioners and a facsimile of the corporate <br />seal of the County to be imprinted herein, and the annexed coupons <br />to bear the facsimile signature of said Clerk and this bond to be dated <br />June 1, 1978. / <br />(SEAL) 44 rLs i§ g ture) <br />Chairman, Boar of Commissioners <br />(facsimile signature) _ <br />Clerk , Board of Commissioners <br />(Form of Coupon) <br />No. <br />No. <br />On the 1st day of June/December, 19 , the COUNTY <br />OF LEE, a county of the State of North Carolina, will pay to bearer <br />at the principal office of First-Citizens Bank and Trust Company, <br />Raleigh, North Carolina, or, at the option of the holder or regis- <br />tered owner, at the principal office of Chemical Bank, New York, <br />New York, in such coin or currency of the United States of America <br />as at the time of payment shall be legal tender for the payment of pub- <br />lic and private debts, being the semi-annual interest then due on its <br />Water and Sewer Bond, dated June 1, 1978, No. <br />Clerk, Board of Commissioners <br />