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117 <br /> <br />A RESOLUTION AUTHORIZING THE APPROVAL AND PAYMENT OF INTEREST <br />ON CERTAIN LOST OR DESTROYED INTEREST COUPONS OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, PORT IMPROUEM~T BONDS SERIES OF 1975. <br /> <br /> WHEREAS, the Federal Reserve Bank of Richr~Dnd and Commercial <br />Union Insurance Company have advised officials of the City of <br />Portsmouth, Virgin±a that the hereinafter-described interest <br />coupons have either been lost or destroyed. <br /> <br />Twenty (20) coupons No. 14 due 11-1-82 at $177.50 <br />each detached f~om City of Portsmouth, Virginia, <br />7.10 percent Port Improvement Bond No. 481/500 <br />issued 10-15-75 at $5,000.00 each due 11-1-92. <br /> <br /> WHEREAS, ~15.1-209, Code of Virginia, 1950, provides for the <br />replacement of lost or destroyed bonds and the interest coupons, <br />if any, and the payment of such interest coupons then due upon <br />compliance with the provision of such section and subject to <br />the approval of the State Commission on local debt. <br /> <br /> NOW, T~EREFORE, BE IT RESOLVED by the Council of the City <br />of Portsmouth, Virginia that approval and payment of the interest <br />on the hereinabove lost coupons is hereby authorized pursuant to <br />the provisions of ~15.1-209, Code of Virginia, 1950, upon com- <br />pliance of the provisions of such section and subject to the <br />approval of the State Com/aiss±on on Local Debt which is hereby <br />requested. <br /> <br /> Adopted by the Council of the City of Portsmouth,~Virginia, <br />at a meeting held November 22, 1983. <br /> <br />Teste: <br /> <br />CityClerk <br /> <br /> <br />