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T~e Director of Finance of the City shall make all <br />payments of principal of and interest on this Bond, without <br />the presentation or surrender hereof, to the registered owner <br />hereof, in immediately available funds at or before 11:00 a.m. <br />on the applicable Payment Date. If a Payment Date is not a <br />business day for banks in the Commonwealth of Virginia or for <br />the Commonwealth of Virginia, then the payment of principal of <br />or interest on this Bond shall be made in immediately <br />available funds at or before 11:00 a.m. on the business day <br />preceding the scheduled Payment Date. Upon receipt by the <br />registered owner of this Bond of said payments or principal <br />and interest, written acknowledgment of the receipt thereof <br />shall be glven promptly to the Director of Finance of the <br />City, and the City shall be fully discharged of its obligation <br />on this Bond to the extent of the payment so made. Upon final <br />payment, this Bond shall be surrendered to the Director of <br />Finance of the City for cancellation. <br /> <br /> The full faith and credit of the City are irrevocably <br />pledged for the payment of principal of and interest on this <br />Bond. <br /> <br /> This Bond is <br /> <br />with and pursuant <br /> <br />Commonwealth of <br />Chapter 5, <br />Charter of <br />adopted by <br /> <br /> duly authorized and issued in compliance <br /> <br />to the Constitution and laws of the <br />Virginia, including the Public Finance Act, <br />Title 15.1, Code of Virginia 1950, as amended, the <br />the City and ordinances and resolutions duly <br />the City Council of the City and the School Board <br /> <br /> <br />