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UNITED STATES OF AI&ERICA COI~IONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION PUBLIC UTILITY BOND SERIES REGISTERED REGISTERED No. R- INTEREST MATURITY RATE : D~TE: DATE OF ORI_GIN~L ISSUE: CUSIP: REGISTERED OWNER: PRINCIPAL SUM: The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia (the "City"), for value received, acknowledges itself indebted and hereby promises to pay to' the Registered Owner (named above), or registered assigns, on the Maturity Date (specified above) unless this Bond shall have been duly called for previous redemption and payment of the redemption price duly made or provided for, the Principal Sum (specified above) and to pay interest on such Principal Sum until payment of such Principal Sum in full, at the Interest Rate (specified above) per annum on, ,~ and semiannually on each and the~eafte-r~(each such date is hereinafter referred to as an "interest payment date"), from the date hereof or from the interest payment date next preceding their date of authentication hereof to which interest shall have been paid, unless such date of authentication is an interest payment date, in which case from such interest' payment date if interest shall have been paid to such date, or unless such date of authentication is within the period from the sixteenth (16th) day to the last day of the calendar month next preceding the following interest payment date, in which case from such following interest payment date. Such interest is payable by check or draft mailed by the Registrar hereinafter mentioned to the Registered Owner hereof at his address as it appears on such books of registry kept by the Registrar as of the close of business on the fifteenth (15th) day (whether or not a business day) of the calendar month next preceding each interest payment date. The principal of and premium, if any, on this Bond are payable on presentation and surrender hereof at the principal