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Section 4. The Bonds shall not be subject tG taxation by <br />the City of~Portsmouth,~ and the coupons pertaining to said Bonds, <br />shall after the maturity of said coupons, be received in payment of <br />all dues, taxes, and assessments due to the City. <br /> <br /> Section 5. The~proceeds arising from the sale of said <br />BOnds Shall be applie~ to the payment of the costs for the construc- <br />tion of schools, certain other public buildings, storm sewers, and <br />streets; for the purchase of property for governmental, recreational, <br />and port development purposesi for ~e purchase of equipment; for <br />urban renewal purposes; and'to pay certain annexation costs pursuant <br />to the order entered in the Circuit C0urt of the City of Chesapeake,'~I <br />Virginia, on October 2, 1~67, annexing certain territory to the City~' <br />of Portsmouth, effective-Jandary l, l~68,~including the retirement <br />of Bond Anticipation Notes heretofore issued in anticipation of the <br />sale of said~$onds. <br /> <br /> Section 6o All resolutions~or orders, or .parts thereof~ in <br />conflict with~the provisions Of this ~esolution, are to the extent ~ <br />of such conflict hereby repeale~. ~ ~ ~ · <br /> <br /> Section ?~ <br />passage. <br /> <br /> ~Adopted by the Council of the <br />at a meeting held July 28, l~?0~ <br /> <br />This resolution shall take effect from its <br /> <br /> City of Portsmouth, Virginia, <br /> <br /> Teste: <br /> <br />City Clerk <br /> <br /> <br />