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No. $5,030 <br /> <br /> The City of Portsmouth, (the "City"), a municipal corporation of <br />the Conn~nwealth of Virgir~a, hereby acknowledges itself indebted for <br />Value receiVed and prcraises to pay to the bearer hereof, or, if this <br />bond then be registered as herein provided, to the then _registered owner <br />hereof, the princzpal s~n of Five Thousand Dollars ($5,000.) on the <br />first day of January, 19 (subject to the right of prior redemption <br />hereinafter mentioned) ~oon the presentation and surrender hereof, and <br />to pay interest on said principal susa frcm the date hereof at the rate <br />of per centum ( %) per annum, <br />payable J~]y 1, 1978, ~nd s~i-annually thereafter on January 1 and July <br />1, of each year. <br /> <br /> This bend may be registered by the holder as to principal only or <br />as to both principal and interest in accordance ~th the provisions for <br />such registration endorsed hereon. If this-bond shall not then be <br />registered as to both principal and interest the interest hereon payable <br />prior to maturity shall be payable at the principal office of The Chase <br />Manhattan Bank in the City of New York, New York, the paying agent for <br />this bond, but only upon the presentation and surrender of the respective <br />coupons annexed hereto representing such interest as the same become due <br />and payable. The interest on this bend while registered as to both <br />principal and interest shall be payable by the City by check or draft <br />mailed to the registered owner at such owner's ad.d~ ess as shown on the <br />books of registry. <br /> <br /> The principal of ~ premium, if any, and interest on this bond ere <br />payable in suc~h coin or currency of the United States of America as at <br />the respective dates of payment is legal tender for the payment of <br />public and private debts. ~ach principal and premium are payable at the <br />principal office of the aforesaid paying agent for this bend. <br /> <br /> This bond is one of an issue of bonds aggregating Three Million <br />Dollars ($3,000,000.) in principal amount end issued for the purpose of <br />providing funds to pay the cost of capital improvements, extensions and <br />additions to the revenue producing water and sewerage system of the City <br />under and pur~ut to Article VII, Section lO(a) (2) of the Constitution <br />of Virginia and Chapter 5 of Title 15.1 of the Cede of Virginia, 1950, <br />as s~nended (the same-being the Public Finance Act), the Charter of the <br />City and proceedings of the Council of the City duly adopted and taken <br />under said Chapter 5. <br /> <br />6 <br /> <br /> <br />