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(Form of Coupon) <br /> <br />No. S <br /> <br /> On the first day of , , unless the <br />Bond hereinafter mentioned shall have been duly called for <br />previous redemption and payment of the redemption price duly <br />made or provided for, the City of Portsmouth, Virginia, will <br />pay to bearer upon the presentation and surrender hereof the <br />amount shown hereon in such coin or currency of the United <br />States of America as at the date of payment hereof is legal <br />tender for the payment of public and private debts, at the <br />principal office of Virginia National Bank, in Norfolk, <br />Virginia~ or, at the option of the bearer, at the principal <br />office of The Chase Manhattan Bank (National Association), <br />in the City of New York, New York, being interest then due <br />on its General Obligation Public Improvement Bond, date~ as <br />of December 1, 1982, and numbered No. <br /> <br />Director of Finance <br /> <br />(Form of P~ovisions for Registration) <br /> <br /> This Bond may be registered as to principal only <br />in the name of the holder on the books of registry to be <br />kept by the Director of Finance of the City of Portsmouth, <br />Virginia, as Registrarr such registration t~ be noted by the <br />Registrar in the registration blank below. After such <br />registration, no transfer hereof shall be effective against <br />the Registrar, the City of Portsmouth or the paying agents <br />for this Bond unless made on such books by the registered <br />owner or attorney duly authorized and similarly noted <br />hereon, but this Bond may be discharged from such <br />registration by being transferred to bearer, after which <br />this Bond shall be transferable by delivery, but this Bond <br />may be again registered as before. The registration of this <br />Bond as to principal shall not restrain the negotiability by <br />delivery merely of the coupons appertaining hereto, but the <br />coupons may be surrendered and the interest made payable <br />only to the registered owner, in which event the Registrar <br />shall note in the registration blank below that this Bond is <br />registered as to inter~st as well as to principal. With the <br />consent of the holder and the Registrar, this Bond when <br />converted into a bond registeced as to both principal and <br />interest may be reconverted into a coupon bond and again <br />converted into a bond registered as to both principal and <br />interest as hereinabove provided, but always at the expense <br />of the holder. Upon reconversion of this Bond, when <br /> <br /> <br />