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85 A RESOLUTION AUTHORIZING THE PAYMENT OF THE COUPONS APPERTAINING TO CITY OF PORTSMOUTH, IMPROVEMENT BONDS, SERIES 1975. LOST INTEREST VIRGINIA, PORT WHEREAS, Ann W. Cutchins, the owner (the "Owner"), has advised officials of the City of Portsmouth, Virginia (the "City"), that the interest coupons appertaining to the hereinafter-described bonds of the City in bearer form, each such coupon being numbered coupon number 30 and being in the amount of $191.25, which coupons matured and became due and payable on November 1, 1990 have been lost; and WHEREAS, the Owner has the Director of Finance of interest coupons; and provided evidence satisfactory to the City of the ownership of such WHEREAS, the bonds to which such interest coupons appertain are ten (10) City of Portsmouth, Virginia, Port Improvement Bonds, Series of 1975, such bonds being dated October 15, 1975, maturing and becoming due and payable on November 1, 2000, bearing interest at the rate of seven and sixty-five hundredths per centum (7.65%) per annum, numbered from 998 to 1007, both inclusive; and ~HEREAS, Section 15.1-227.23, Code of Virginia, 1950, provides for the issuance of a substitution bond for the replacement of lost or stolen bonds and the interest coupons, if ~ny, appertaining thereto, and the payment of such bonds and interest coupons then due upon compliance with the provisions of such section; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the Director of Finance of the City is hereby authorized to pay to the Owner $1,912.50, being the amount of the interest on the above-described bonds represented by the above-described interest coupons, pursuant to the provisions of Section 15.1-227.23, Code of Virginia, 1950. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held December 10, 1991. Teste: City Council