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ucoz i8 PacE 6:c0 <br />EXHIBIT C-1 <br />NOTICE OF REDEMPTION <br />County of Lee, North Carolina <br />Public Improvement Bonds, Series 1992 <br />Dated July 1, 1992 <br />CUSIP # 523714 <br />NOTICE IS HEREBY GIVEN by the Board of Commissioners of the County of <br />Lee, North Carolina that all of the outstanding Public Improvement Bonds, Series 1992, of the <br />County of Lee, North Carolina, dated as of July 1, 1992, and maturing on February 1 in the years <br />2003 to 2009, inclusive, are hereby called for redemption and prepayment on February 1, 2002. <br />Each of the following bonds so called for redemption and prepayment shall be redeemed and <br />prepaid at the applicable redemption price plus accrued interest to the date of redemption: <br />Bond <br />Numbers <br />Maturity <br />February l <br />CUSIP <br />Number <br />Redemption <br />Price <br />R- 10 <br />2003 <br />523714 LB7 <br />100''/2% <br />R- 11 <br />2004 <br />523714 LC5 <br />101 <br />R-12 <br />2005 <br />523714 LD3 <br />101'/2 <br />R-13 <br />2006 <br />523714 LEI <br />102 <br />R-14 <br />2007 <br />523714 LF8 <br />102 <br />R-15 <br />2008 <br />523714 LG6 <br />102 <br />R-16 <br />2009 <br />523714 LH4 <br />102 <br />The bonds so called for redemption shall be delivered to the office of the Finance <br />Officer of the County of Lee, Lee County Government Center, Sanford, North Carolina 27331- <br />1968. <br />Under the provisions of the Interest and Dividend Tax Compliance Act of 1983, <br />Paying Agents making payments of principal on municipal securities may be obligated to <br />withhold a thirty-one per centum (31%) tax from remittances to individuals who have failed to <br />furnish the Paying Agent with a valid taxpayer identification number. Owners who wish to <br />avoid the imposition of this tax should submit a valid taxpayer identification number when. <br />presenting their securities for redemption. <br />C 2. <br />24 <br />