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- 8 <br /> <br /> (FORM OF BOND) <br /> UNITED STATES OF A/~ERICA <br /> COMMOh~EALTH OF VIRGINIA <br /> CITY OF PORTS~OUTH <br /> PUB~LIC UTILITY AND REFUNDING BOND, SERIES 1987 <br />No. R- $ <br /> <br />INTEREST MATURITY ORIGINAL <br />RATE: DATE: ISSUE DATE: <br /> <br />CUSIP: <br /> <br />REGISTERED HOLDER: <br />PRINCIPAL SUM: <br /> <br /> The City of Portsmouth, a municipal corporation of <br />the Commonwealth of Virginia (the "City"), for value <br />received, acknowledges itself indebted and hereby promises <br />to ~ay to the Registered Holder (named above), or registered <br />assigns, on the Maturity Date (specified above) unless this <br />Bond shall have been duly called for previous redemption and <br />pa~ent of the redemption price duly made or provided for, <br />the Principal Sum (specified above) and to pay interest on <br />such Principal Sum on the first day of November, 1987 and <br />semiannually on the first day of May and the first day of <br />November of each year thereafter (each such date is <br />hereinafter referred to as an "interest payment date"), from <br />the date hereof or from the interes~ payment date next <br />preceding the daue of authentication hereof to which <br />interest shall have been paid, unless such date of <br />authentication is an interest payment date, in which case, <br />from such interesu paymenu date, or unless such date of <br />authentication is within the period from the sixteenth <br />(16th) day to the last day of the calendar month next <br />preceding the following interest payment date, in which case <br />from such following interest payalenu date, such interest to <br />be paid until the maturity or redemption hereof at the <br />Interest Rate (specified above) per annum, by check mailed <br />by the Registrar hereinafter mentioned to the Registered <br />Holder in whose name this Bond is registered upon the books <br />of registry of the City kept by the Registrar as of the <br />close of business on the fifteenth (15th) day (whether or <br />not a business day) of the calendar month nexu preceding <br />each interest payment date au his address as it appears on <br />such books of registry. The principal of and premium, if <br />any, on this Bond are payable on presentation and surrender <br />hereof at the principal corporate trust office of <br /> <br /> <br />