1985 Resolutions - Laserfiche WebLink

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10. The City Manager of the City is hereby authorized to publish and distribute a notice of sale of the Bonds, such publication to be made in The Bond Buyer, a financial newspaper published in the City of New York, New York, and in The Virginian Pilot, a newspaper of general circulation in the City, at least once in each such paper, with the date of the first publication to be at least seven (7) days prior to the date of sale of the Bonds. Such notice of sale shall be in substantially the following form: "NOTICE OF SALE CITY OF PORTSMOUTH, VIRGINIA $30,000,000 GENERAL OBLIGATION BONDS Sealed proposals for the purchase of S30,000,000 general obligation bonds hereinafter described of the City of Portsmouth, Virginia, will be received at the office of the City Manager, City Hall, 801 Crawford Street, Portsmouth, Virginia, until twelve o'clock noon, Virginia time, on Tuesday, October 29, 1985, at which time and place all proposals will be publicly opened. The bonds offered for sale (the "Bonds") consist of two issues of general obligation bonds: 1. S20,I50,000 General Obligation Public Improvement Bonds maturing in the principal amount of $1,005,000 on November 1 in each of the years 1986 through 2004 and in the principal amount of Sl,055,000 on November 1 in the year 2005. 2, $9,850,000 General Obligation Public Utility Bonds maturing in the principal amount of $495,000 on November 1 in each of the years 1986 through 2004 and the principal amount of $445,000 on November 1 in the year 2005. The Bonds will be dated November 1, 1985; will be in fully registered form; will be of the denomination of $5,000 each or any integral multiple thereof; and will bear interest payable on May 1, 1986, and semiannually thereafter on November 1 and May 1 of each year. Both principal of and interest on the Bonds will be payable in such coin or currency of the United States of America as at the respective dates of payment is legal tender for public and private debt. -12-