1972 - 10-02-72 Regular Meeting - Laserfiche WebLink

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BOOK $ PAGE 1 (8) Each of the bonds and the interest coupons representing the interest payable thereon and the provisions for the registration of the bonds and for the approval of the bonds by the Secretary of the Local Government Commission to be endorsed thereon, shall be in substantially the following form: (Form of Bond) No. No. _ UNITED STATES OF AMERICA STATE OF NORTH CAROLINA -COUNTY OF LEE BOND $5, 000 $5, 000 The County of Lee (hereinafter referred to as "County"), a County of the State of North Carolina, acknow- ledges itself indebted and for value received hereby promises to pay to the bearer of this bond, or, if it be registered, to the registered holder, the principal sum of FIVE THOUSAND DOLLARS ($5, 000) on May 1, 19, and to pay interest thereon from the date of this bond until it shall mature at the rate of PER CENTUM ( ) per annum, payable semi-annually on May 1 and November 1 in each year, upon presentation and surrender of the coupons therefor attached hereto, as they sever- ally mature. Both principal of and interest on this bond are payable at the principal office of The Carolina Bank, in the City of Sanford, North Carolina, or, at the option of the holder or registered owner at the principal office of The Chase Man- hattan Bank (National Association) in the Borough of Manhattan, City and State of New York, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. This bond may be registered as to principal only by the holder in his name on the bond register of the County of Lee kept in the office of the Bond Registrar of the County and such registration shall be noted hereon by said Bond Registrar. If so registered, this bond may be transferred on said bond register by the registered holder in person or by attorney, upon presentation of this bond to the Bond Registrar with a written instrument of transfer in a form approved by said Bond Registrar and executed by said registered holder. If this bond be so registered, the principal thereafter shall be payable only to the person in whose name it is registered, unless this bond shall be discharged from registry by being registered as payable to bearer. Such regis- tration shall not affect the negotiability of the coupons, which shall continue to pass by delivery. (Paragraph to appear only in Water Bonds, Series A) This bond is issued pursuant to the County Finance Act of North Carolina and a bond order duly adopted by the Board of Commissioners of the County on April 5, 1971 to finance the construction of a water supply system for said County and its inhabitants. The issuance of the bonds and the contracting of the indebtedness evidenced thereby have been approved by a majority of the qualified voters of the County voting at an election duly called and held in said County on June 8, 1971.