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obligated to levy ad valor~n taxes for ~2ae payment of such Bonds and the interest thereon upon all property within the City, subject to taxa%ion by the City, without limiqation of rate or amount, it being understood ~hat ~ne rights of the holders of such Bonds and the enforceability thereof may be subject to judkicial discretion, to the valid exercise of the sovereign police p~ers of the Co~r~nwealth of Virginia and of the constitutional powers of the united States of A~erica, and to valid bankruptcy, insolvency, reorg-~%ization, moratorium and other laws affecting creditors' rights, and will also state %hat t_he interest on such Bonds is exempt from taxation by the United States of America under existing law' and regulations and und~r the eY~sting law of the Con~onwealth of Virginia such inte_rest is not includable in computing the Virginia income tax~ A copy of the respective opinion ~tl be printed on respective Bonds. Requests for proposal forms, for the official statement perhaip_ing to the Bonds and for further information should be addressed to Mr. Roy W. Cherzy, Director of Finance, City of Porhsmou~-h, P. O. BOx 820, Portsmouth, Virginia 23705. Proposal form~ and the official statement may also be obtained at the office of ~ssrs. ~.~d & D~son, 48 Wall Street, New York, New York 10005. Robert T. willi~Ts City M~nager Portsmouth, Virginia" 11. The City Attorney of the City shall and is hereby directed to file a copy of this resolution, certified by the City Clerk of ~-he City to be a true copy hereof, ~ith t/ne Circuit Court of the City of Porks- mouth, Virginia, and said City Clerk shall and is hereby d~rected to publish once within t~] (10) days of the date of such filing a notice in The Virginian Pilot, a newspaper of general cird~latiom in the City, in accordance ~.th Section 15.1~199 of the Code of Virginia, 1950, as amended. Such notice shall be in substantially ~he foll~;ing form: Notice is hereby given pursuant to Section 15.1-199 of the Code of Virginia, 1950, as amended, that the Council of the City of Portsmouth, Virginia, adopted on F~y 27, 1980, resolutions authorizing the issuance of $7,000,000 principal amount of General Obligation Public I~provement BondS and $5,000,000 principal ampunt of C~neraI Obligation Public Utility BondS of said City and caused certified ~copies of said resolutions to be filed in the Circuit Cortrh of the City of Portsmouth on The proceeds of sale of said General Coligation Bonds shall be applied to the payment of the costs of the following public improvement projects in substantially the foll(y~ing respective amomnts: 12