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be calculated on the basis of a three hundred and sixty (360) <br />day year comprised of twelve (12) thirty (30) day months. The <br />principal of and premium, if any, on this Bond are payable on <br />presentation and surrender hereof at the office of the Deputy <br />City Manager for Finance of the City, as Registrar and Paying <br />Agent for this Bond, in the City 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 legal <br />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 to refund certain existing obligations of the City under <br />and pursuant to and in full compliance with the Constitution and <br />statutes of the Commonwealth of Virginia, including Chapter 5.1 <br />of Title 15.1 of the Code of Virginia, 1950, recodified <br />effective December 1, 1997 as Chapter 26 of Title 15.2 of the <br />Code of Virginia, 1950 (the same being the Public Finance Act of <br />1991), and the Charter of the City, and proceedings of the <br />Council of the City duly adopted and taken under the Public <br />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 date in <br />any order determined by the City (except that if at any time <br />less than all of the Bonds of a given maturity are called for <br />redemption, the particular Bonds of such maturity or portions <br />thereof in installments of $5,000 to be redeemed shall be <br />selected by lot), upon payment of the following redemption <br />prices (expressed as a percentage of the principal amount of the <br />Bonds to be redeemed), 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 />