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Both principal of and interest on this bond are payable in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts at the principal office of Virginia National Bank, ~n the City of Norfolk, Virginia, as princzpal paying agent of the City. At the option of the holder, the principal of this bond, unless registered otne_' r than to bearer, and the interest on this bond, unless registered as to both principal and interest, are also pay- able at the principal office of The Chase Manhantan Bank (National Association),agent, in the City of New York, New York, as co-paying This bond is one of an issue of bonds of like date, denomination and tenor herewith (except for number and maturmty) - , interest rate aggregatzng Eight Million TwoHunured~ Thousand Dollars ($8,200,OOO) and is issued for the purpose of acquirzng certain port improvements~ and to construct certain additional port improve- ments, which port improvements constitute a revenue p oauczng ~nder- taking of the City. This bond ~ .r ~ ~ a~_a the bonds of the issue of which it is one are issued under and pursuant to and in conformity with the Constitution and statutes of the Commonwealth of Virgmnia, including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, the Charter of the City of Portsmouth and an election of the qualified Voters of the City held under samd Chapter 5 on the third day of November, 1970, and pursuant to Ordinance No. 1970-90 duly adopted by the Council of the City of Portsmouth under said Chapter on the twenty-ninth day of September, 1970, and a resolution duly adopted by the Council of the City under said Chapter on the . day of October~ 1975. The bonds of the issue of which this bond is one manuring on an~ after November 1, 1986 are subject to redemption at the option of the City of Portsmouth prior to maturity on or after November 1, 1985, in whole at any time, or in part from time to time on any interest payment date in any order determined by the City (except that if less than all o~ the bonds of a maturity are called for redemp- t'ion, the particular bonds of such maturity to be redeemed shall be selected by lot), from any moneys that may be made available for such purpose, at the principal amount of the bonds to bereaeemed,~ together with the interest accrued thereon to the date fixed for redemption, 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 months' period or fraction thereof between the date fixed for redemption and the stated maturity date of such bond, such premium in any event not to exceed three percent (3%) of such principal amount. If this bond is redeemable and shall be called for redemption, notice of the redemption hereof, specifying the designation, date and maturity of this bond, the nm~ber hereof unless all the bonds of the issue of which this bond is one then outstanding shall then be called for redemption, the date and place fixed for its redemption and the premium, if any, payable upon such redemption, shall be given by publication of such notice once in a daily newspaper printed in the English language and customarily published on each business day