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-4- <br /> EXHIBIT A <br /> UNITED STATES OF AMERICA <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF PORTSMOUTH <br /> GENERAL OBLIGATION PUBLIC UTILITY <br /> BOND ANTICIPATION NOTE <br />REGISTERED REGISTERED <br /> <br />EXHIBIT A <br /> <br />No. R-1 $9,900,000 <br /> <br /> INTEREST MATURITY DATE OF <br /> RATE DATE NOTE <br /> <br /> 3.78% AUGUST 15, 1999 AUGUST 12, 1998 <br /> <br />REGISTERED OWNER: CRESTAR SECURITIES CORPORATION <br /> <br />PRINCIPAL SUM: NINE MILLION NINE HUNDRED THOUSAND DOLLARS <br /> <br /> The City of Portsmouth, a municipal corporation of the Commonwealth of <br />Virginia (the "City"), for value received, acknowledges itself indebted and hereby promises to <br />pay to the Registered Owner (named above), or registered assigns, on the Maturity Date <br />(specified above) unless this Note shall have been duly called for previous redemption and <br />payment of the redemption price duly made or provided for, the Principal Sum (specified <br />above) and to pay interest on such Principal Sum payable at maturity, at the Interest Rate <br />(specified above) per annum, such interest to be calculated on the basis of a 365-day year and <br />the actual days between the date hereof and the stated maturity hereof. <br /> <br /> The pnncipal of and interest on this Note are payable on presentation and <br />surrender hereof at the office of the Deputy City Manager for Finance of the City of <br />Portsmouth, Virginia, as Registrar, in the City of Portsmouth, Virginia. The principal of and <br />interest on this Note are payable in such coin or currency of the United States of America as at <br />the respective dates of payment is legal tender for public and private debts. <br /> <br /> This Note is one of an issue of Notes aggregating Nine Million Nine Hundred <br />Thousand Dollars ($9,900,000) in principal amount and issued for the purpose of providing <br />funds to pay the cost of capital improvements, extensions and additions to the revenue- <br />producing water and sewer system of the City. under and pursuant m and in full compliance <br />with the Constitution and statutes of the Commonwealth of Virginia, including Article VII, <br />Section 10(a)(2) of the Constitution of Virginia, Chapter 26 of Title 15.2 of the Code of <br /> <br /> <br />