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provided that (i) in no event shall the stated rate of interest for any Note be in excess of ten per centum (10%) per annum; (ii) in no event shall any redemption premium payable upon the redemption of any Note exceed three percent (3%) of the principal amount thereof; and (iii) in no event shall the maturity of any Note be in excess of the maturity permitted under Section 15.1-227.29 of the Code of Virginia, 1950. The City may sell all or part of the Notes alone or contemporaneously with any other general obligation notes or with any general obligation bonds of the City. There may be prepared and distributed a preliminary and a final Official Statement relating to any Notes in such form as shall be approved by the Deputy City Manager for finance of the City. The issuance and details of such Notes shall be governed by the provisions of Section 15.1-227.29 of Title 15.1, Article 2 of the Code of Virginia, 1950, and Article I of Chapter 12 of the Code of the City. Each Note issued hereunder shall be accompanied by a certificate of the City Manager and the Deputy City Manager for Finance of the City in the form prescribed in Section 12-16 of the Code of the City. The provisions of Paragraph 2 hereof shall apply to the Notes to the extent that same are not paid from the proceeds of the Bonds or from any other available funds. Bonds in anticipation of which the Notes are issued must be issued and sold in accordance with this resolution not later than five years from the date of the original issue of the first Notes. 5. The City Attorney of the City shall file a copy of this resolution, certified by the City Clerk of the City to be a true copy thereof, with the Circuit Court of the City of Portsmouth, Virginia, in accordance with Section 15.1-227.9 of the Code of Virginia, 1950. 6. This resolution shall take effect from the date of is adoption. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held May 6, 1997. Teste: City Clerk Date of Filing with the Circuit Court of the City of Portsmouth, Virginia: May ________, 1997