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No. R-1 <br /> <br /> UNITED STATES OF AMERICA <br /> COMMONWEALTH OF VIRGINIA <br /> <br /> CITY OF PORTSMOUTH <br /> GENERAL OBLIGATION <br /> QUALIFIED ZONE ACADEMY BOND, <br /> SERIES 2001 <br /> <br /> DATED DATE MATURITY DATE <br /> <br /> ________________, 2001 ________________.20___ <br /> <br /> <br />REGISTERED OWNER: <br />PRINCIPAL AMOUNT: <br /> <br /> The CITY OF PORTSMOUTH, VIRGINIA (the "City"), for value received, <br />acknowledges itself indebted and promises to pay to the registered owner of this Bond or <br />such owner's attorney or legal representative the principal amount stated above on the <br />maturity date set forth above. The principal of and premium, if any, on this Bond are <br />payable in lawful money of the United States of America. <br /> <br /> The principal of this Bond is payable upon presentation and surrender hereof at the <br />office of the Chief Financial Officer of the City, as Bond Registrar and Paying Agent (the <br />"Bond Registrar"). <br /> <br /> This Bond is issued under the authority of and in full comphance with the <br />Constitution and statutes of the Commonwealth of Virginia, and, more particularly, issued <br />pursuant to the Public Finance Act of 1991, Chapter 26 of Title 15.2 of the Code of Virginia <br />of 1950, as amended, and Resolution No. R-01- (the "QZAB Resolution") adopted by the <br />Council of the City (the "Council") on October 23, 200t. <br /> <br /> The City is issuing this Bond and using the proceeds of the sale thereof, along ;vith <br />other available City funds, to finance the public school building renovanon, rehabilitation <br />and repair and public school equipment acquisition projects constituting a portion of the <br />City's Long-Term Capital Improvement Program, as the Council of the City may amend it <br />from time to time. <br /> <br />The full faith and credit of the City are irrevocably pledged for the payment of the <br /> <br /> <br />