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shall bear interest at a rate or rates to be hereafter deter- <br />mined, by the Council upon the sale of said bonds, providing <br />that the maximum rate of interest shall not exceed the maxi- <br />mum rate of interest authorized by law at the time of the <br />sale of said bonds. <br /> <br />Section 2. This resolution shall take effect from its passage. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held June 13, 1972. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br />-2- <br /> <br /> <br />