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R <br />too <br />thereon to the redemption date plus a redemption premium of <br />one-half of one percent (1/2 of 1%) of the principal amount <br />of each bond to be redeemed for each calendar year oi' part <br />thereof between the redemption date and the maturity date of <br />each bond to be redeemed, provided that such premium shall <br />not exceed two percent (2%) of such principal amount. If <br />less than all of the bonds of any maturity are called for <br />redemption, the bonds to be redeemed shall be selected by <br />lot. If less than all of the bonds of different maturities <br />are called for redemption, the bonds to be redeemed shall be <br />called in the inverse order of their maturities. If less <br />than all of the principal amount of a single bond is to be <br />redeemed, the Issuer shall exchange a bond of the denomina- <br />tion representing the portion of the bond not redeemed to <br />01 the registered owner in exchange for the bond a portion of <br />which is to be redeemed. Whenever the Issuer shall elect to <br />redeem bonds, notice of such redemption of bonds, stating <br />the redemption date, redemption price and identifying the <br />bonds or portions thereof to be redeemed by reference to <br />their numbers and further stating that on such redemption <br />date there shall become due and payable upon each bond or <br />portions thereof so to be redeemed, the principal thereof, <br />redemption premium and interest accrued to the redemption <br />date and that from and after such date interest thereon <br />shall cease to accrue, shall be given by publication at <br />least once in a newspaper of general circulation in the <br />County of Lee, North Carolina and at least once in a daily <br />newspaper of general circulation or a financial journal <br />