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the City duly held pursuant to the Public Finance Act of 1991 on November 8, 1994. This Note shall not be subject to redemption prior to its stated maturity. The full faith and credit of the City is hereby irrevocably pledged to the punctual payment of the principal of and interest on this Note as the same become due. In each year while this Note is outstanding and unpaid, there shall be assessed, levied and collected, at the same time and in the same manner as other taxes of the City are assessed, levied and collected, a tax upon all taxable property within the City, over and above all other taxes, authorized or limited by law and without limitation as to rate or amount, sufficient to pay when due the principal of and interest on this Note if and to the extent the revenues of the water and sewer system of the City are insufficient for that purpose. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, to exist and to be performed precedent to and in the issuance of this Note and the issue of which it is a part have happened, do exist and have been performed in due time, form and manner as required by law, and that the amount of this Note, together with all other indebtedness of the City, does not exceed any limitation of indebtedness prescribed by the Constitution or statutes of the Commonwealth of Virginia or the Charter of the City. IN WITNESS WHEREOF, the City has caused this Note to be executed by the manual or facsimile signatures of its Mayor and Deputy City Manager for Finance; an impression of the corporate seal of the City or a facsimile thereof to be affixed hereto or imprinted hereon, and attested by the manual or facsimile signature of the City Clerk of the City; and this Note to be dated August 15, 1999. CITY OF PORTSMOUTH, VIRGINIA [SEAL] Mayor Deputy City Manager for Finance Attest: City Clerk