2002 - 11-04-02 Regular Meeting - Laserfiche WebLink

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0 aoo��9 PaGE 75 price for bonds redeemed during the period June 1, 2012 to May 31, 2013, inclusive, shall include a premium of 2% of the principal amount to be redeemed and the redemption price for bonds redeemed during the period June 1, 2013 to May 31, 2014, inclusive, shall include a premium of 1% of the principal amount to be redeemed. If less than all of the bonds of any maturity are called for redemption, the bonds to be redeemed shall be selected by the District in such manner as it may determine. If less than all of the principal amount of a bond is to be redeemed, the District shall exchange a bond of the denomination representing the portion of the bond not redeemed to the registered owner in exchange for the bond, a portion of which is to be redeemed. Whenever the District shall elect to redeem bonds, notice of such redemption of bonds, stating the redemption date, redemption price and identifying the bonds or portions thereof to be redeemed by reference to their numbers and further stating that on such redemption date there shall become due and payable upon each bond or portion thereof so to be redeemed, the principal thereof, redemption premium and interest accrued to the redemption date, shall be given not less than 30 days nor more than 45 days prior to the redemption date in writing to the registered owners, by pre -paid first -class mail, at their addresses as such addresses appear on the records of the Transfer Agent, but any failure in respect of such mailing will not affect the validity of the redemption. So long as this bond is held or insured by the United Stales of America, the principal thereof may be prepaid without premium at any time in whole or in part in inverse order of maturity. It is hereby certified and recited that all conditions, acts and things required by the Constitution or statutes of the State of North Carolina to exist, be performed or happen precedent to or in the issuance of this bond, exist, have been performed and have happened, and that the amount of this bond, together with all other indebtedness of the District, is within every debt and other limitation prescribed by said Constitution or statutes. The faith and credit of the District are hereby pledged to the punctual payment of the principal of and interest on this bond in accordance with its terms. This bond shall not be valid or become obligatory for any purpose until the certifications hereon shall have been signed by authorized representatives of the Local Government Commission of North Carolina and the Transfer Agent. I