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_________________________________ <br /> (Signature of Registered Owner) <br /> NOTICE: The signature to this <br /> assignment must correspond with <br /> the name as written on the face <br /> of the within Bond in every <br /> particular, without alteration, <br /> enlargement or any change <br /> whatsoever. <br /> <br /> [FORM OF GENERAL OBLIGATION PUBLIC UTILITY <br /> BOND, SERIES 1996] <br /> <br /> UNITED STATES OF AMERICA <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF PORTSMOUTH <br /> GENERAL OBLIGATION PUBLIC UTILITY BOND <br /> SERIES 1996 <br /> <br />REGISTERED REGISTERED <br /> <br />No. PUR-____ $_________ <br /> <br /> <br /> <br />INTEREST MATURITY DATE OF <br />RATE: DATE: BOND: CUSIP: <br /> <br /> % August 1, ______ January 1, 1996 <br /> <br />REGISTERED OWNER: CEDE & CO. <br /> <br />PRINCIPAL SUM: <br /> <br /> The City of Portsmouth, a municipal corporation of the <br />Commonwealth of Virginia (the "City"), for value received, <br />acknowledges itself indebted and hereby promises to pay to the <br />Registered Owner (named above), or registered assigns, on the <br />Maturity Date (specified above) unless this Bond shall have been <br />duly called for previous redemption and payment of the redemption <br />price duly made or provided for, the Principal Sum (specified <br />above) and to pay interest on such Principal Sum until payment of <br />such Principal Sum in full, at the Interest Rate (specified above) <br />per annum on, August 1, 1996 and semiannually on each February 1st <br />and August 1st thereafter (each such date is hereinafter referred <br />to as an "interest payment date"), from the date hereof or from <br /> <br /> <br /> <br /> <br />