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first aa~ be registered~ to the registered holder~here°f' ~°n the '- ~ '~ o~ Dec~er~-~19 ~-- ; t~ne sum of Five ~h~asana Doila~,~nd to pay interest thereon at the rate of per centum per annum payable semi-annually on~ the first day of June and December in each year, after date, until maturity, upon surrender of the an- nexed 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 th~s bond are pay- able in lawful currency of the United States of ~merica at The Chase Manhattan Bank (National Association), ~ew ~ork~ New York.. This bond is one of a series aggregating Four Million ~-Five Hundred Thousand Dollars ($4,500,000) and is' issued for the purpose of providing funds ~or urban renewal purposes; for the.ac~ -~quisition-of-~l~nd. and tha' construction~of'Pubiic ~uiidingsth~re~n~'- for the construction of curbs, gutters and drainage facilities, street and highway inprovements; fo~ the construction and equip, ping of certain parks and recreation facilities; for the purchase and installation of equipment for traffic control systems; for the repair of waste disposal facziz~ze , and for the purchase of school buses, mobile classrooms and the construction of ~school buildings, under and pursuant to and inconformity with the Constitution and statutes of the Commonwealth of Virginia, includingChapter 5 Of Title 15.1 of the code of Virginia, 1950, and the charter of t~he City of Portsmouth, and pursuant to re~olutions, of ~the Council of the City of Portsmouth adopted October 23, 1973, and 1973, under sazd C~apter ~. It is hereby certified and recited that all acts, con- Co~ut~on and statutes of the ditions and things required by the ~ ' '~ : .... Com~onwealth~f.Virginia~to exist, to-.have happened, and ~tob~' '. ~ .-performed~pracedent to~and~in the.issuzhnce of~this~bOnd, exist¥~ ..... _~. ~a. ~av~.~?h~ppe~e~a~d''have~been~p~er~°rmedrin-~tue'~t~m~'~ ~o~m and~ ma~;~;.~- as required by law, and that the issue of bo_~s of wnzch ~his is _one,.to. gerber ~%.ith all other ~indebtedn~ss ~t3the.~l y, is withi~r ...... the otherwise ~uthorized indebtedness-of said City, and is within every debt and other limit prescribed by the Constitution and laws of the Commonwealth of Virginia. The full faith and credi~ of the City of Portsmouth are hereby irrevocably pledged to the payment of the principal of and interest on this bond. This bond zs not sub]ec to taxatzon by the Cl=y of Portsmouth and the coupons hereto attached shall, at and after ma=urzt=~ be received in payment of all dues, taxes and assess- ments due to the City. -3-