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t. $22,000,000 GenerAl Obligation Public Improvement Bonds maturing in the principal amount of $1,100,000 on December 1 in each of the years 1983 through 2002. 2. $8,000,000 General Obligation Public utility Bonds maturing in the principal amount of $400,000 on December I in each of the years 1983 throuuh 2002. The~Bonds will be dated December 1, 1982; will be in coupo~ form registrable as to principal only or as'to- both priDcipat and~int~.rest; will be of the denomination Of $5,000 ~ach; and will bear interest payable June 1, 1982, and sem£annually thereafter on December 1 and June 1 of each year. Both principal Qf and interest on the Bonds will'be payable in such~ coin or currency of the United States of America as at the~res~ective dates of payment is legal tender for public and private debts, at the principal office of Virginia National Bank, in Norfolk, Virginia, or, at the option of the holder of any Bond or coupon appertaining thereto, at the principal office of ~he Chase Manhattan Bank (National Association)~ in New York, New York, except that interest on any Bond while registered as to both principal and interest shall be paid by the City. The Bonds of each issue-maturing on and after December 1, 1993 shall be subject to redemption at the option of the City pri~r to their stated maturities on or after December 1, 1992, in whole at any time, or in part from time t~.~time on a~y'interest payment date in any order determined by the City I(except that if less than all Of the Bonds of a.maturity~of such issue are called for redemption, the particular Bonds of such maturity of such issue to be redeemed sh~ll be selected by lot), upon payment of the.I principal a~ount of th~ Bonds to b~ redeemed together w~th the interest accrued thereon to the date fixed for redemptio~ plus a premium of one-quarter of one percent [1/4 of 1%) of the principal amount of each Bond to be redeemed for each twelve (12) month period or fraction thereof between the date fixed for redemption and the stated maturity date of such Bond. The Public Improvement Bonds are to be issued for the purpose of providing funds to pay the cost of various public improvement pro~ects of and for the City. The full faith and c~edit of the City shall be pledged to the payment of the principal of and inter~st on such Bonds as the same become due. For the payment of such principal and interest, the City has power and will be obligated to levy ad valorem taxes without limitation of rate or amount upon all property within the City subject to taxation by the City. The Public Utility Bonds are to be issued for the purpose of providing funds to pay the cost of capital