1976 Resolutions - Laserfiche WebLink

Home Browse Search

UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION BOND No. $5,000.00 The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, hereby acknowledges itself in- debted for value received and promises to pay to the bearer, or if this bond be registered, to the registered holder hereof, on the first day of , 19 , the sum of Five Thousand Dollars, and to pay interest thereon at the rate of per centum per annum payable semi-annually on the first day of February and August in eack year, after date, until maturity, upon surrender of the annexed coupons as they severally become due, or if this bond be registered as to both principal and interest, to the registered holder hereof. Both principal and interest of this bond are payable in lawful currency of the United States of America at The Chase Manhattan Bank (National Association), New York~ New York. This bond is one of a series aggregating Ten Million Dollars ($10,O00,000.) and is issued for the purpose of pro- viding funds for urban renewal pruposes; for the acquisition of land; for the construction, improvements, and repairs of public buildings and facilities; for the construction of curbs, gutters and drainage facilities, street, highway and bridge improvements; for the construction and equipping of certain parks and recreation facilities; for the purchase and installation of equipment for traffic control systems; for the construction and improvement of school buildings; for the purchase of capital equipment and facilities for public transportation system; for the purchase of fire protection equipment; and for dredging and repairs to bulkheads, under and pursuant to and in conformity with the Constitution and statutes of the Commonwealth of Vir- ginia, including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, and the charter of the City of Portsmouth, and pursuant to resolutions of the Council of the City of Portsmouth adopted June 22, 1976r and ~ 197__f under said Chapter 5. It is hereby certified and recited that all acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia, to exist, to have happened, and to be performed precedent to and in the issuance of this bond, exist, have happened and have been performed in due time, form and manner as required by law, and that the issue of bonds of which this is one together with all other indebtedness of the City, is within the otherwise authorized indebtedness of said City, and is within every debt and other limit prescribed 3