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including Chapter 5 of T~tle 15.1 of the ~Code of Virginia, 1950, the Charter of ~he City of Portsmouth~and an election of the quali- fied voters of the City held under said Chapter 5 on the seventh day or November, 1961, and pursuant to an ordinance duly adopted by the Council of the City of Portsmouth on the seventb day of October, 1961, and a resolution duly adopted by the Council of the City o.f Portsmouth on the ltth day of November~ 1969, under said Chapt~er 5. It is hereby eerti.fied and recited that all acts, condi- tions and things required by the Constitution and statutes of the Commonwealtb of Virginia, to exist, to have happended~ and to be performed precedent to and in the issuance of this bond, exist, haYe 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 eYery 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. There is also irrevocably pledged to such payment the net revenue of the water works system of the City, and the fees, rents and charges for the use of said syste~ shatI be maintainad at a level which will produce net revenue sufficient for the payment of said principal and interest and for any reserve fund deemed aecessary for the efficient administration of said system, and for the protection of the holder of this bond and the other bonds issued pursuant to said ordinance. This bond is not subject to taxation b~ the Cit~ of Ports~ mouth ~nd the coupons attached shall, at and after maturity, be received in payment of all due~ 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 seat of the City to be imprinted here- on~ attested by the facsimile signature of the City Clerk; the coupons hereto attached to be authenticated by th~ facsimile signa- ture of the City Treasurer; and this bond to be ~dated (SEAL) Mayor City of Portsmouth, Virginia Attest: City Treasurer City Clerk -~-