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,19 , the sum of Five Thousand Dollars, upon the surrender hereof, and to pay interest at the rate of . per centum per annum payable semi-annually on the day of and in each 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, N.A., New York, New York. This bond may be registered by the holder as to prin- cipal or as to both principal and interest in accordance with the provisions for such registration endorsed hereon. ~his bond is one of a series aggregating Three Million Dollars, and is issued for the purpose of making certain improve- ments, extensions and additions to the revenue producing under- taking of the City consisting of its water, sewer, and sewage disposal systems, under and pursuant to and in conformity with the Constitution and statutes of the Commonwealth of Virginia, 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 said Chapter 5 on the second day of November, 1971, and pursuant to an ordinance duly adopted by the Council of the City of Portsmouth on the fifteenth day of September, 1971, and a resolution duly adopted by the Council of the City of Portsmouth on the 12th day of September 1972, under said Chapter 5. It is hereby certified and recited that all acts, condi- tions 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 by the Constitution and laws of the Commonwealth of Virginia. The full faith and credit of the City of Portsmouth are hereby irrevocably pledged for the payment of the principal and interest of this bond. The principal and interest hereof shall be payable from ad valorem taxes without limitation of rate or amount, if the revenues of the aforesaid undertaking consisting of the water, sewer, and sewage disposal systems are insufficient for that purpose. -4-