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dates, interest rate or rat~s~ maturities.~ and redemption terms and <br />prices, if any, shall be submitted to the City Council for its approval <br />prior to the issuance and delivery of the bonds. The proceeds arising <br />from the sale of the Water Bonds shall' be applied to the payment <br />of the costs of making certain improvements, extensions and additions <br />to the water works system of the City and to no other purpose. <br /> The Water Bonds shall be signed by the Mayor and by the <br />City Treasurer of the City.of Portsmouth, either of whose signat.ures <br />upon the Water Bonds may be a facsimile of his signature. A fac- <br />simile of the seal of the City of Portsmouth shall be imprinted there- <br />on, attested by the facsimile signature of the City Clerk. The cou- <br />pons attached to the Water Bonds shall be signed by the facsimile <br />signature of the City Treasurer. The Water Bonds and coupons pertain- <br />ing thereto' shall be substantially in the following form, to-wit: <br /> <br /> UNITED STATES OF A~RICA <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF PORTSMOUTH <br /> WATER BOND <br /> <br />No. $5,000.00 <br /> <br /> .l ' The City of Portsmouth, a municipal corporation of th? <br />Commonwealth of Virginia, hereby a3knowledges itself indebted for <br />value received and promises to pay to the bearer, or if this bond <br />be registered, to the registered holder hereof, on the day of <br /> ., 19 , the s~m of Five Thousand Dollars,.upon the <br />surrender hereof, and to pay interest on said sum at the rate of <br /> per centum per annum payable semi-annually on the <br />day of and in each year, after date, <br /> until maturity, upon surrender o~ the annexed coupons as they sev- <br /> erally become due, or if this bond be registered as to both princi- <br /> pal and interest, to the registered holder hereof. Both principal <br /> and interest of this boDd are payable in lawful currency of the United <br /> States of America, at The Chase Manhattan Bank, N.A., New York, New <br /> York. <br /> <br /> -This bond may be registered by <br />or as to both principal and interest in <br />for such registration endorsed hereon. <br /> <br />the holder as to principal <br />accordance with the provisions <br /> <br /> This bond is one of a series aggregating One Million Six <br />Hundred Thousand Dollars, and is issued for the purpose of making <br />certain improvements, extensions and additions to the water works <br />system of the City~ mnder and pursuant to and in conformity with <br />the Constitution and statutes of the Commonwealth of Virginia, <br /> <br /> <br />