HomeMy WebLinkAboutC.054.93011_1145 (2)arrangements with DTC and such other depository to effect such replacement and deliver replacement
Bonds registered in the name of such other depository or its nominee in exchange for the outstanding
Bonds, and the references to DTC or Cede & Co. in this resolution shall thereupon be deemed to mean
such other depository or its nominee. If the Issuer fails to idents another qualified securities depository
to replace DTC, the Issuer will deliver replacement Bonds in the form of fully -registered certificates in
the denomination of 85,000 or any multiple thereof ("Certificated Bonds') in exchange for the
outstanding Bonds as required by DTC and others. Upon the request of DTC, the Issuer may also deliver
one or more Certificated Bonds to any participant of DTC In exchange for Bonds credited to its account
with DTC.
Unless indicated otherwise, the provisions of this resolution that follow shall apply to all Bonds
issued or issuable hereunder, whether initially or in replacement thereof.
Section 3. The Bonds shall bear the manual or facsimile signatures of the Chairman or Vice
Chairman of the Board of Commissioners for the Issuer and the Clerk to said Board and the official seal
or a facsimile of the official seal of the Issuer shall be impressed or printed, as the case may be, on the
Bonds.
The certificate of the LGC to be endorsed on all Bonds shall bear the manual or facsimile
signature of the Secretary of the LGC or any assistant designated by him and the certificate of
authentication of the Bond Registrar to be endorsed on all Bonds shall be executed as provided
hereinafter.
In case any officer of the Issuer or the LGC whose manual or facsimile signature shall appear
on any Bonds shall cease to be such officer before the delivery of such Bonds, such manual or facsimile
signature shall nevertheless be valid and sufficient for all purposes the same as if he had remained in
office until such delivery, and any Bond may bear the manual or facsimile signatures of such persons as
at the actual time of the execution of such Bond shall be the proper officers to sign such Bond although at
the date of such Bond such persons may not have been such officers.
No Bond shall be valid or become obligatory for any purpose or be entitled to any benefit or
security under this resolution until it shall have been authenticated by the execution by the Bond
Registrar of the certificate of authentication endorsed thereon.
The Bonds to be registered in the name of Cede & Co. or any other name designated by an
authorized representative of DTC and the endorsements thereon shall be in substantially the following
farms:
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC'). TO ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE
ISSUED /S REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUIRED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC). ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
No. R- ......
United States of America
State of North Carolina
COUNTY OF IREDELL
GENERAL OBLIGATION PUBLIC IMPROVEMENT
BOND, SERIES 2006
8..........
Maturity Date Interest Rate CUSIP
June 1. 10.. % 462668 ....
The County of Iredell, North Carolina (the "Issuer'), a political subdivision of the State of
North Carolina, is justly indebted and for value received hereby promises to pay to
CEDE & CO.
or registered assigns or legal representative on the date specified above, upon the presentation and
surrender hereof, at the office of the Director of Finance and Administrative Services of the Issuer (the
"Bond Registrar'), Iredell County Government Center, 200 South Center Street, Statesville, North
Carolina 28677, the principal sum of
HUNDRED THOUSAND DOLLARS
and to pay interest on such principal sum from the date hereof or from the June I or December I next
preceding the date of authentication to which interest shall have been paid, unless such date of
authentication is a June I or December 1 to which interest shall have been paid, in which case from such
date, such interest to the maturity hereof being payable semiannually on June 1 and December 1 in each
year, commencing December 1, 2006, at the rate per annum specified above, until payment of such
principal sum. The interest so payable on any such interest payment date will be paid to the person in
whose name this bond (or the previous bond or bonds evidencing the same debt as that evidenced by this
bond) is registered at the close of business on the record date for such interest, which shall be the 15th
day (whether or not a business day) of the calendar month next preceding such interest payment date, by
check mailed to such person at his address as it appears on the bond registration books of the Issuer.
Both the principal of and the interest on this Bond shall be paid in any coin or currency of the United
States of America that is legal tender for the payment of public and private debts on the respective dates
of payment thereof. For the prompt payment hereof, both principal and interest as the same shall become
due, the faith and credit of the Issuer are hereby irrevocably pledged.
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