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FINANCE RESOLUTION - Resolution Providing for the Sale and Issuance of 23 million General Obligation Community College Bonds, Series 2017
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FINANCE RESOLUTION - Resolution Providing for the Sale and Issuance of 23 million General Obligation Community College Bonds, Series 2017
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replacement Bonds in the form of fully -registered certificates in denominations of $5,000 or any <br />whole multiple thereof ("Certificated Bonds") in exchange for the outstanding Bonds as required <br />by DTC and others. Upon the request of DTC, the County may also deliver one or more <br />Certificated Bonds to any participant of DTC in exchange for Bonds credited to its account with <br />DTC. <br />Unless indicated otherwise, the provisions of this resolution that follow shall apply to all <br />Bonds issued or issuable hereunder, whether initially or in replacement thereof. <br />Section 3. The Bonds shall bear the manual or facsimile signatures of the Chairman or <br />Vice Chairman of the Board and the Clerk or any Deputy Clerk to the Board and the official seal <br />or a facsimile of the official seal of the County shall be impressed or imprinted, as the case may <br />be, on the Bonds. <br />The certificate of the Local Government Commission of North Carolina to be endorsed <br />on all Bonds shall bear the manual or facsimile signature of the Secretary of said Commission <br />and the certificate of authentication of the Bond Registrar to be endorsed on all Bonds shall be <br />executed as provided hereinafter. <br />In case any officer of the County or the Local Government Commission of North <br />Carolina whose manual or facsimile signature shall appear on any Bonds shall cease to be such <br />officer before the delivery of such Bonds, such manual or facsimile signature shall nevertheless <br />be valid and sufficient for all purposes the same as if he had remained in office until such <br />delivery, and any Bond may bear the manual or facsimile signatures of such persons as at the <br />actual time of the execution of such Bond shall be the proper officers to sign such Bond although <br />at the date of such Bond such persons may not have been such officers. <br />No Bond shall be valid or become obligatory for any purpose or be entitled to any benefit <br />or security under this resolution until it shall have been authenticated by the execution by the <br />Bond Registrar of the certificate of authentication endorsed thereon. <br />The Bonds to be registered in the name of Cede & Co. and the endorsements thereon <br />shall be in substantially the following form: <br />No. R- <br />E <br />United States of America <br />State of North Carolina <br />COUNTY OF LEE, NORTH CAROLINA <br />GENERAL OBLIGATION COMMUNITY COLLEGE BOND, SERIES 2017 <br />Maturity Interest Rate <br />April 1, 20_ % <br />C1 TOUP Nn <br />The County of Lee, a political subdivision in the State of North Carolina, is justly <br />indebted and for value received hereby promises to pay to <br />rd <br />
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