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semiannually on the first day of May and the first day of November of each year thereafter (each such date is hereinafter referred to as an "interest payment date"), from the date hereof or from the interest payment date next preceding the date of authentication hereof to which interest shall have been paid, unless such date of authen- tication is an interest payment date, in which case, from such interest payment date, or unless such date of?authen- tication is within the period from the sixteenth (~6~h) 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 to be paid until the maturity or redemption hereof at the Interest Rate (specified above) per annum, by check mailed by the Registrar hereinafter mentioned to the Registered Holder in whose name this Bond is registered upon the books of registry of the City 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 at his address as it appears on such books of registry. The principal of and premium, if any, on this Bond are payable on presentation and surrender hereof at the principal corporate trust office of , as Registrar and Paying Agent for this Bond, in the City of , Virginia. The principal of and premium, if any, and interest on this Bond are payable in such coin or currency of the United States of A~erica as at the respective dates of payment is legal tender for public and private debts. This Bond is one of an issue of Bonds aggregating Dollars ($ ) in principal m~ount and issued for the purpose of providin~ funds to refund in advance of their stated maturities and redeem certain outstanding port improveme~ bonds heretofore issued by the City (such bonds having been issued by the City for the purpose of acquiring certain port improvements and to construct certain additional port improvements, which port improvements constitute a revenue-producing undertaking of the City), under and pursuant to and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, as amended (the same being the Public Finance Act), and the Charter of the City, and proceedings of the Council of the City duly adopted and taken under such Chapter 5 and such Charter. The Bonds of the issue of which this 8ond is one maturing on and after (or portions thereof in installments of $5,000) are subject to redemption at the option of the City prior to their stated maturities on or after , in whole at any time, or in part from time to time on any interes~ payment date in any order