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on this Bond shall be calculated on the basis of a three <br />hundred and sixty (360) day year comprised of twelve (12) <br />thirty (30) day months. The prlncipal of and premium· if any, <br />on this Bond are payable on presentation and surrender hereof <br />at the office of the Deputy City Manager for Finance of the <br />City, as Registrar and Paying Agent for this Bond, in the City <br />of Portsmouth, Virginia. <br /> <br /> The principal of and premium, if any, and interest on <br />this Bond are payable in such coin or currency of the United <br />States of America as at the respective dates of payment is <br />legal tender for public and private debts. <br /> <br /> This Bond is one of an issue of Bonds aggregating <br />___________________ Dollars ($ ) in principal <br />amount and issued for the purpose of providing funds to pay the <br />costs of various public improvement projects of and for the <br />City and to refund in advance of their stated maturities and <br />redeem certain outstanding general obligation public <br />improvement bonds heretofore issued by the City to pay the <br />costs of various public improvement projects of and for the <br />City, under and pursuant to and in full compliance with the <br />Constitution and statutes of the Commonwealth of Virginia, <br />including Chapter 5.1 of Title 15.1 of the Code of Virginia· <br />1950, recodified effective December 1, 1997 as Chapter 26 of <br />Title 15.2 of the Code of Virginia, 1950 (the same being the <br />Public Finance Act of 1991), and the Charter of the City, and <br />proceedings of the Council of the City duly adopted and taken <br />under the Public Finance Act of 1991 and such Charter. <br /> <br /> The Bonds of the issue of which this Bond is one <br />maturing on and after __________, __________ (or portions thereof in <br />installments of $5,000) are subject to redemption at the option <br />of the City prior to their stated maturities on or after <br />__________ _____, _______, in whole or in part from time to time on any <br />date in any order determined by the City (except that if at any <br />time less than all of the Bonds of a given maturity are called <br />for redemption, the particular Bonds of such maturity or <br />portions thereof in installments of $5,000 to be redeemed shall <br />be selected by lot), upon payment of the following redemption <br />prices (expressed as a percentage of the principal amount of <br />the Bonds to be redeemej, together with the interest accrued <br />thereon to the date fixed for the redemption thereof: <br /> <br /> Redemption Prices <br /> Redemption Dates (Percentage <br /> (Both Dates Inclusive) of Principal Amount) <br /> <br />_______ ___, _____to _______ ___, _____ % <br />_______ ___, _____to _______ ___, _____ % <br />_______ ___, _____to and thereafter % <br /> <br /> <br />