1972 - 03-31-72 Special Meeting - Laserfiche WebLink

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KM 8 om 59 0 Upon receipt of said payments of principal and interest, written notice of the receipt thereof shall be given promptly to the County Clerk and the County shall be fully discharged of its obligation on this bond to the extent of the payment so made. Upon final payment li of principal and interest this bond shall be surrendered to the County for cancellation. This bond is issued pursuant to The County Finance Act of North Carolina and a bond order duly adopted by the Board of i Commissioners of the County,on September 7, 1971, to finance the acquisition of vehicles, equipment, apparatus and furnishings to j ' be used by Lee County in conjunction with the maintenance and operation by said County of sanitary landfill facilities for the I; disposal of garbage, refuse and other wastes. This bond is exchangeable at the sole expense of the County at any time, upon ninety days' notice, at the request of the registered owner hereof and upon surrender of this bond to the County, for.negotiable coupon bonds, payable to bearer, registrable as to principal alone or as to both principal and interest, of the denomination of One Thousand Dollars ($1,000) each, in an aggregate principal amount equal to the unpaid principal amount.of this bond and~in the form of such coupon bond as provided for in the resolu- tion authorizing the issuance of the bonds. This bond may be assigned and upon such assignment the assignor shall promptly notify the County by registered mail, and the assignee shall surrender the same to the County for transfer on,the registration records, or in exchange for coupon bonds in the denomination of $1,000 each, in an aggregate principal amount equal to the unpaid principal amount of-such registered bond and bearing maturities corresponding to the principal installments on such registered bond then unpaid, and every such assignee shall take this bond subject to such condition. - 10