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 conver~ed into a bond registered as to both principal and interest as hereinabove provided, but always at the expense of the holder. Upon reconversion of this bond, when regKs- tered as to prlncipal and interest~ into a coupon bond, coupons representing the interest to accrue on this bond, to date of maturity shall be attached thereto by the Registrar, and the Registrar shall note in the registration blank below whether the bond is registered as to principal only or payable to bearer. DATE OF REGISTRATION: IN ~OSE NAME REGISTERED: MANNER OF SIGNATURE OF REGISTRATION: 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 !~vy 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 issue the Bonds in such form and for such sum as Ks authorized by Section 1 here- of. The City Manager is authorized to cause to be imprinted on the back of each of the Bonds, a copy of the complete final legal opinion with respect to the Bonds, with the name of the attorney or attorneys 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 true and correct copy of the legal opinion which was dated as of the date of delivery of and paymen~ for the Bonds. Fui~ power and authority Ks hereby given the City Manager to sell said bonds in such manner, either at public or prlvate 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-