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hereof, the principal sum of Five Thousand Dollars ($5,000) on the firSt day of March, (subject to the right of prior rede~otion hereinafter mentioned) upon the presentation and surrender he~eof, and to pay interest on said principal sum frc~ the date hereof at the rate of per centum ( %) Der annum, payable September 1, 1980, and semi-annualLy thereafter on Mar~h 1 and September 1 of each year. This Bond may be registered by the holder as to mrinclpal only or az to both principal and interest in accordance with ~he provisions for such registration endorsed hereon. If this Bond shall not then be registered as to beth principal and interest, the interest hereon _payable prior to maturity shall be payable at the principal office of Virginia National Bank, in Norfolk, ¥irginia, or, ah %he option of the holder of this FJond, at the principal office of The Chas~ Manhattan 'Bank (National Associa+~ion), in the City of New York, New York, the paying agents for this Bond~ but only upon the presentation and surrender of the respective coupons ~nexed hereto representing such interest as the same becor~ due and payable. The interest on this Bond while registered as to be~h principal end interest shall be payable by the City by_ check or draft mailed to the registered owner at such owner's address as shown on the books of registry. The principal of and premium, if any_, and interest on ~Jmis Bond are payable in such coin or c%lrrency of the United States of AmeriDa as at the respective dates of payment is legal tender for public end private debts. Such principal and premium are payable at the principal office of eib_her of the aforesaid paying agents for this Bond. This Bond is one of sD_ issue of P~nds ag?regating Five ~4illion Dollars {$5,000,000) in principal smount and issued for the purpo._ se of providLng funds to pay the cost of capital improvements, extensions and addition3 to the r~v~nue producing water and sewerage system of the City under ~and pum'~anfi to and in full compliance with the Constitution and statut~es Of the Conlronwealth of Virginia; including Article I~lI, Section 10(a) (2), of the Constitution of Virqinia~ Cha~er 5 o~ T{~ ~K ~ ~ the Code of VirgJ_n_ia~ 1950, as amended (~he sane being the Public Finance Act), ~ ~he Charter of the City, and proceedings of the Council of the City duly adopted and taken under said Chaoter 5 end said Charter. The Bonds of the issue of which this Bond is one mmbaring on and after M~rc~h 1, 1991, are subject to redemption at the option of the City prior to the~ sta+~ed matl~ri~ies on or after .March 1, 1990, in whole at any ti~e, or in psrh from time to time on any interest payment date in any order determined by the City (except that if at any time less t~han all of the Bonds of a maturity are c~lled for redemption, the particuler Bonds of such maturity to be redeemed shall be selected by lot), u~oon pa_~-sent of the principal amount of the Bonds to be rede~ned