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• A <br /> • <br /> • <br /> of said Clerk. Both principal of and interest on the bonds shall be <br /> payable at the principal,office of the Chemical Bank New York Trust <br /> Company, in the Borough of Manhattan, City and State of New York, or, <br /> at the option of the holder, at the office of the Wachovia Bank and Trust <br /> Company, in the City of Raleigh, North Carolina, in any coin or currency <br /> of the United States of America which at the time of payment is legal <br /> tender for the payment'of public and private debts. • <br /> (5) Each of the bonds and the interest coupons representing the <br /> interest payable thereon and the provisions for the registration of the <br /> bonds and for the approval of the bonds ly the Secretary of the Local <br /> Government Commission to be endorsed thereon, shall be in sub- <br /> stantially the following form: ' • • <br /> • <br /> • <br /> (Form of Bond) <br /> . <br /> No. No. <br /> UNITED STATES OF AMERICA <br /> • <br /> STATE OF NORTH CAROLINA <br /> • <br /> COUNTY OF LEE • <br /> SCHOOL BOND <br /> $1, 000 $1, 000 <br /> The COUNTY OF LEE (hereinafter referred to as "County"), a <br /> county of the State of North Carolina, for value received hereby promises <br /> to pay to the bearer of this bond, or, if it be registered, to the <br /> registered holder, the principal sum of <br /> • ONE THOUSAND DOLLARS ($1, 000) <br /> on February 1, 19 , and to pay interest thereon from the date of this <br /> bond until'it shall mature at the rate of per centum <br /> { °Jo) per annum, payable semi-annually on February 1 and <br /> August I in each year, upon presentation and surrender of the <br /> coupons eherefor attached hereto, as they severally mature. Both <br /> principal of and interest on this bond are, payable at the principal office <br /> of the Chemical Bank New York Trust Company, in the Borough of <br /> Manhattan, City and State of New York, or, at the option of the holder, <br /> at the office of the Wachovia Bank and Trust Company, in the City of <br /> Raleigh, North Carolina, in any coin or currency of the United States of <br /> America which at the time of payment is legal tender for the payment of <br /> public and private debts. <br /> • <br /> This bond maybe registered as to principal only by the holder in <br /> his name on the bond register of the County kept in the office of the Bond <br /> Registrar of the County, and such registration shall be noted hereon by <br /> said Bond Registrar. If so registered, this bond may be transferred on <br /> said bond register by the registered owner in person or by attorney, upon <br /> presentation of this bond to the Bond Registrar with a written instrument <br /> Of transfer in a form approved by said Bond Registrar and executed by <br /> the registered owner.- If this bond be so registered, the principal shall <br /> thereafter be payable only to the person in whose name it is registered, <br /> unless this bond shall be discharged from registry by being registered as <br />