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Certain ~mprovements, extensions and additions to the revenue producing undertaking of the CitY 'consisting of its.water, sewer, and sewage~dis- posal systems, Under and pursuant to and in conformity with the Consti~ tution and statutes of the Commonwealth of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, ~950, the Charter of the City of Portsmouth and an election of the qualified voters of the CitY.held under said Chapter 5 on the Fifth day.of November, 1968, and pursuant to an ordinance duly adopted by the C6uncit of the City of Portsmouth on the eighth day of October, 1968~ and a resolution duly adopted by the Council of the City of Portsmouth on the 28th day of July, 1970, under said Chapter 5. It is hereby certified and recited that all acts, conditions and things required by the Constitution and.statutes of the Commonwe'althLL of Virginia, to exist, ~o hame happened,.and to be performed precedent to and in phe issuance of this bond, exists, have happened'and have been performed in ~ue time, form and ma~r' as ~equired by iag~ and that the issue of bonds of which thiS~is~'one, together With al~ other indebted~ ness of the City, is .within the otherwise authorized i~debtedness o~ said City and is within every ~eb~ and other limit Prescribed by th~ Constitution and laws of the Commonwealth of Virginia. The full faith and credit of the City of Portsmouth are hereby. irrevocably pledged, for the payme~t~of-the principal and interest 'of this bond. There is also irrevocably pledged ~b"~uch 'payment the ne revenue of the revenue producing~'undertaki~g ~ the City,~ consisting of the water, sewers, and sewage disposal. Systems, ~d~t~e fees, rents and charges for the use of said Undertaking shall ~ maintained at~ level which will produce net revenue sufficient for the payment of said prin- ~cipal and interest and for any reser~ve fund de~me~ necessary, for the efficient administration of said undertaking.and ior the protection of · the hold'er of this bond and t~e other ~b0nd~ issued pursuant to the ~ aforesaid ordinance. This bond is not subject to taxation by the City of Portsmouth and the coupons hereto attached shall, at and after maturity, be re- ~ceived in payment of all dues, taxes and ~assessments due to the City. IN WITNESS WHEREOF, the City of Portsmouth has caused this bond to be signed by the Mayor and by the City Treasurer .of said City either of whose signatures hereon 'may be~a facsimile of his signature; a facsimile of the seal of the City to be imprinted hereon, attested by the facsimile signature of the City Clerk; the coupons hereto attached to be authenticated by the facsimile ~ignature of the City Treasurer; and this bond to be dated , 19 Mayor of the City of Portsmouth, VirEinia City Treasurer