1972 Resolutions - Laserfiche WebLink

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well as to principal. With the consent of the holder and the City of Portsmouth, this bond when converted into a bond register~ ed as to both principal and interest may be reconverted into a coupon bond and again converted into a bond registered as prlncipa~ and interest as hereinabove provided, but always at the expense of the ~olaer. Upon reconversion of this bond when regis- tered as to principal and interest, into a coupon bond, coupons representing the interest to accrue on this bonds to date of m~u~y shall be attached thereto by the Registrar, and the Registrar shall note in the registration blank De-ow whether the bond is registered as to prlncipal only or payable to bearer. DATE OF REGISTRATION: IN ~HOSE NAME REGISTERED: ~NNER OF S~GNATURE OF RE~ISTP~TiON: REGISTRAR: Section 2. The full faith and credit of the City of Portsmouth shall be pledged to the payment of the principal of and interest on the Bonds as the same become due. For the payment of such principal and interest, the City of Portsmouth shall have power and be obligated to levy ad valorem taxes without limitation as to rate or amount on all the property subject to taxation by the City. Section 3. Full power and authority is hereby given to the City Manager of the City of Portsmouth to prepare and ~ssue the Bonds in such form and for such sum as is authorized by Section 1 here- of. The City Manager is authorized to cause to be mmprinted on the back of each of the Bonds, a copy of the complete final legal opinlon with respect to the Bonds, with the name of the attorney or ajttorneys rendering same, together with a certification of the City Clerk evidenced by a facsimile signature of that officer, to the effect that the copy is a mrue and correct copy of the legal opinion which was dated as of the date of delivery of and payment for the Bonds. Full power and authority is hereby given the City Manager to sell said bonds in such manner, either at public or private sale, and at such time and place, as the City Manager may determine; provided, however, that no sale shall be made without the approval of the City Council. Section 4. The Bonds shall not be subject to taxation by the City of Portsmouth, and the coupons pertaining to said Bonds, shall after the maturity of said coupons, be received in pay- ment of all dues, taxes, and assessments due to the City. -5-