HomeMy WebLinkAboutC.054.93009_1856 (2)EXHIBIT C
(Form of Series 1998 Bond)
No. R-1 $1,000,000
United States of America
State of North Carolina
COUNTY OF IREDELL
SPECIAL OBLIGATION BOND (SOLID WASTE SYSTEM PROJECT),
SERIES 1998
The County of Iredell, North Carolina (herein sometimes
called the "County"), for value received hereby promises to pay,
solely from the sources provided therefor as hereinafter set
forth, to BB&T/CRAIGIE GOVERNMENTAL FINANCE or registered assigns
or legal representative, the principal sum of
ONE MILLION DOLLARS
in quarterly installments an the dates and in the amounts set
forth in the amortization schedule attached hereto as SCHEDULE 1,
in any coin or currency of the United States of America which on
the date of payment thereof is legal tender for the payment of
public and private debts, and to pay, solely from said sources,
to the person in whose name this bond (or one or more Predecessor
Bonds, as defined in the order hereinafter mentioned), is
registered at the close of business on the regular record date
for such interest, which shall be the 1st day of the calendar
month in which an interest payment date is scheduled (the
"Regular Record Date"), by the Bond Registrar to such person at
its address as it appears on the bond registration books of the
County, interest on the unpaid portion of said principal sum,
calculated on the basis of a 360 -day year consisting of 12 months
of 30 days each, from the date of this bond or from the February
15, May 15, August 15 or November 15 next preceding the date of
authentication to which interest shall have been paid, unless
such date of authentication is a February 15, May 15, August IS
or November 15 to which interest shall have been paid, in which
case from such date, on February IS, May 15, August 15 and
November 15 in each year, commencing August 15, 1998, in like
coin or currency, at the rate of 4.21% per annum, until payment
of said principal sum. Any such interest not so punctually paid
shall forthwith cease to be payable to the person who was the
registered owner on such Regular Record Date and may be paid to
the person in whose name this bond (or one or more Predecessor
Bonds) is registered at the close of business on a special Record
Date, as defined in the Order, for the payment of such defaulted
interest to be fixed by the Trustee hereinafter mentioned, notice
whereof being given to registered owners not more than fifteen
(15) days and not less than ten (10) days prior to such Special
Record Date, or may be paid in any other lawful manner not
inconsistent with the requirements of applicable law or any
securities exchange on which the bonds may be listed and upon
such notice as may be required by such law or exchange, all as
more fully provided in the order. The amounts representing
interest are payable by check mailed by First -Citizens Bank
Trust Company, Raleigh, North Carolina, or any successor bond
registrar (the "Bond Registrar") to the registered owner hereof
as of the Regular Record Date preceding the interest payment date
at its address as it appears on the registration books of the
Bond Registrar.
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