4/24/12 - Barnegat Township School District

Upon the surrender of this Refunding Bond and the written request of the
registered owner hereof satisfactory to the Board, this Refunding Bond will be transferred
to a new registered owner. No transfer of this Refunding Bond shall be valid unless
recorded on the books of the Board kept for this purpose in the office of its Business
Administrator and noted on the back of this Refunding Bond.
This Refunding Bond is the duly authorized issue of refunding bonds of the
Board designated as its "School District Refunding Bond, Series 2012", issued as a single
registered Refunding Bond in the original principal amount of $4,135,000 under and
pursuant to N.J.S.A. 18A:18A-4.6 and N.J.S.A. 18A:24-61.1 et seq., an Ordinance of the
Board, finally adopted by the Board on March 27, 2012, and a resolution of the Board
adopted on April 24, 2012.
This Refunding Bond shall be subject to redemption, in whole only on any
interest payment date, at the option of the Board, upon notice as required herein at the
respective prices set forth below, expressed as percentages of the principal amount to be
redeemed, plus in each case accrued interest to the date fixed for redemption:
Redemption Period
(both dates inclusive)
Redemption
Price
November 1, 2012 through April 30, 2022 101.5%
May 1, 2022 and thereafter 101%
When this Refunding Bond is to be redeemed, the Business Administrator (or, if
appointed pursuant to Section 7 of the Resolution, the Paying Agent) shall give notice of
the redemption of the Refunding Bond by mailing such notice via first class mail in a
sealed envelope with postage prepaid to the registered owners of the Refunding Bond or
portion thereof which is to be redeemed not less than fifteen (15) days nor more than
sixty (60) days prior to the date fixed for redemption, at its address as it last appears on
the registration books of the Board. Notice of redemption having been given as
aforesaid, the Refunding Bond shall, on the date fixed for redemption, become due and
payable at the redemption price specified therein plus accrued interest to the redemption
date and, upon presentation and surrender thereof at the place specified in such notice,
such Refunding Bond shall be paid at the redemption price, plus accrued interest to the
redemption date. On and after the redemption date (unless the Board shall default in the
payment of the redemption price and accrued interest), such Refunding Bond shall no
longer be considered outstanding.
This Refunding Bond is registered as to principal and interest and is transferable
by the registered owner or his duly authorized attorney upon surrender hereof at the
principal office of the Board or, if applicable, the principal corporate trust office of any
other Paying Agent, accompanied by a duly executed instrument of transfer in form
satisfactory to the Paying Agent. The Paying Agent may treat the person in whose name
this Refunding Bond is registered on the bond register maintained by the Paying Agent as
Barnegat Township Board of Education Meeting Minutes
April 24, 2012 21