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due on its Utility Bond'~dated <br />NO. ~ <br /> <br />19 <br /> <br />Cit~ ~reasurer -' (FORM OF REGISTRATION) <br /> <br /> This bond may be registered in the name of the holder on <br />the books kept by the City Auditor of the City of Portsmouth, Vir- <br />ginia, as R~gistrar, as to principal only, such registration being <br />noted hereon by the Registrar in the registration blank below, after <br />which no transfer shall be effective against the Registrar, the City <br />of Portsmouth. and the paying agents for this bond unless made on <br />said books by the registered holder or attorney duly authorized and <br /> similarly noted by the Registrar in the registration blank below; <br /> ~ d <br /> but it may be discharged from such registration by being transierre <br /> to bear~r~ after which it shall be transferable bN delivery, but <br /> it may be again registered as before. The registration of this bond <br /> as to principal shall not restrain the negotiability by delivery <br /> merely of the coupons pertaining hereto, but the coupons may be surrendere~ <br /> and the interest made payable only to the registered holder, in which <br /> event the Registrar shall note in the registration blank below that <br /> the bond.is registered as to interest as well as to principal. With <br /> the consent of the holder and the City of Portsmouth, this bond when <br /> converted into a bond registered as to both principal and interest <br /> may be reconverted into a coupon bond and again converted into a <br /> bond registered as to both principal and interest, as hereinabove <br /> provided bu't always at the expense of the holder. Upon r~eonversion <br /> of this bond, when registered as to pricipal and interest, into a <br /> coupon'bond~ coupons representing the interest to accrue on this <br /> bond to date of maturity shal% be attached thereto by the Registrar, <br /> and the Registrar shall note in ~he registration blank below whether <br /> the bond is registered as to principal only or payable to bearer. <br /> <br /> DATE OF IN ~HOSE NAME MANNER OF SIGNATURE OF <br /> REGISTRATION: REGISTERED: REGISTRATION: REGISTRAR: <br /> <br /> Section 2. The full faith and credit of the City of Ports- <br />mouth shall be pledged to the payment of the principal of and interest <br />on the Utility Bonds. The principal and interest of the Utility <br />Bonds shall be payable from ad valorem ~axes without limitation of <br />ra~e or amount~ if the revenues of the undertgking consisting of <br />the water, sewer and sewage disposal systems ar~ insufficient for <br />that purpose. ~ <br /> <br />-5- <br /> <br /> <br />