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BOOK 95 PnE 8 <br />RESOLUTION NO. 95-63 <br />exceeding fifteen (15) years from their dated date and in such <br />amounts, all as shall be determined by subsequent resolution or <br />resolutions of the County Commission adopted on or prior to the <br />sale thereof. <br />Each Bond shall bear interest from the interest payment date <br />next preceding the date on which it is authenticated, unless <br />authenticated on an interest payment date, in which case it shall <br />bear interest from such interest payment date, or, unless authen- <br />ticated prior to the first interest payment date, in which case it <br />shall bear interest from its dated -date; provided, however, that if <br />at the time of authentication interest is in default, such Bond <br />shall bear interest from the date to which interest shall have been <br />paid. <br />The principal of and the interest on the Bonds shall be pay- <br />able in any coin or currency of the United States of America which <br />on the respective dates of payment thereof is legal tender for the <br />payment of public and private debts. The principal of the Bonds <br />shall be payable only to the registered Owner or his legal repre- <br />sentative at the principal corporate trust office of the Paying <br />Agent, and payment of the interest on the Bonds shall be made by <br />the Paying Agent on each interest payment date to the person <br />appearing on the registration books of the Registrar hereinafter <br />provided for as of the date fifteen (15) days prior to each <br />interest payment date, as the registered Owner thereof, by check or <br />draft mailed to such registered Owner at his address.as it appears <br />on such registration books. Payment of the principal of all Bonds <br />shall be made upon the presentation and surrender of such Bonds at <br />the principal corporate trust office of the Registrar as the same <br />shall become due and payable. <br />Notwithstanding any other provisions of this Section, the <br />County may, at its option, prior to the date of issuance of the <br />Bonds, elect to use an immobilization system or pure book -entry <br />system with respect to issuance of such Bonds, provided adequate <br />58 <br />May 16, 1995 <br />_I <br />