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the principal and ~nterest thereof. The action of the City <br />Manager in selling said noyes is hereby ratified. <br /> <br /> SECTION 2. The notes sb~ll be issued in bearer rom <br />with provision for registration as ~o principal And interest. <br />Each note shall be payable as to both principal and interest at <br />the principal office of the purchaser thereof, or a~ such other <br />place as may be designated by said purchaser. ~ae notes shall <br />be signed by the Mayor of said City and its corporate seal to be <br />affixed thereto ~ attested by the City Clerk and countersigned <br />by the City Attorney. The notes shall be issued in substantially <br />the following fom: <br /> <br />UNll~U STATES OF ~5~RICA <br /> <br />CITY OF PORTSMOL~H <br /> <br />BOND ANTICIPATION NOTE <br /> <br />No. $100,000 <br /> <br /> The City of Portsmouth, Virginia, for value received, acknowledges <br />itself indebted and hereby promises to pay to the bearer, or, if this note <br />be registered, to the registered o~mer hereof, the principal s,mm of One <br />Hundred Thousand Dollars ($100,000), together %~ith interest thereon from <br />date hereof until payment of said principal sum., at therate of four and <br />seventy-five hundredths per centum per smmum. Both principalof and <br />interest on this note are payable on March 2, 1970, upon presentation and <br />surrender of this note, at the principal office of The Chase M~umhattmn <br />~Bank, Natiorm! Association, New York, New York, in any coin or currency <br />whieh on said date is legal tender for payment of public and. private debts. <br /> <br /> This note is issued pursumnt to Chapter 5 of Title 15.1 of the Code <br />of Virginia, 1950, as amended, and a Resolution adopted by the Council of <br />the City of Portsmouth~ Virginia, on~orii 29, 1969~ ~er said Cl~pter, <br />inanticipation of the issuance of a like principal amount of general <br />obligation bonds authorized to be issued by 0rdinan_ce No. 1968-87 adopted <br />by said Council under said Chapter on December 17~ ~968, and of the receipt <br />of proceeds of sale of such bonds. ~ne full faith and credit of the City <br />of Portsmouth~ Viro~nia~ are pledged for the pat_~nent of the principal amd <br />interest hereof. <br /> <br /> ~nis note may be registered as to prmncmp=l and interest in accor- <br />dance ~th the provisions for registration and transfer endorsed on the <br />reverse hereof. <br /> <br />-2- <br /> <br /> <br />