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A pP~SOLUTION A~N~ING ~ ~I~t-Y SC}K~DTJ~E FOR ~gB ON~ MILLION S~{ 1[~ ~0USA}~ DOLL&RS 0P WA~mR ~S A~{0RIZ~ ~ BE ISSbTO BY A C~TA~ ~SOL~TION ~p~ DEC~R 17, 1968, .~%~S, by resolution adopved December 17~ t968~ the Co'~ncil of 5he City of Po~tsrnouth~ Virgir~ia~ s~avhoPized the issuance of One Million Six H~red ~nousand Dol!~s of Water Bends ~ ~nd %,,[~%S~ she ms, turiSy schedule sev forth ~n the aforesaid resoiuvion ~s mathematically i~poss~b!e ~-o c~ry ouv~ I~[~S~ ~t is therefore necess&~ vc .revise the said mattu~ity schedule~ NOW~ ~7~ be it resolved by the Council of the Cit}z of - · · t~ ce~ ~aln resolution Portsmouth~ V~a~ that Section I of ~ .... ~" '~'~ "A P~SOLBTION TO AYkHORiZE TP~ iSSUANCE 07 ON~ MI~ION SlX ~t,~ ~S OF ~i,~S ~ BE ~0%'e~ AS WA~ ~I~S~ 'FOR ~ PU~0SE 0F ~i&KING ~ ~ ~ F WAgZR WO~S OF - ,~ ~S ~mNSIONS A~ ~D!~IONS ~ ~ SYNC- 0 C~ PL~U~ ~ Sb~IION 1 7~ CLPJGSE (B) 0F ~ CONSTITe~0N OF ~GIN~ COD~ O_ ?IRGiNI&~ t950~ ~N} U7,~ q~OR~ ~ ~A~ 5 0F ~ 15.1 OF ~Z' ~ = OF ~ V~ OP ~ QUAL~I~ ¥'O~=eS 0F T~ CITf OP P0~SMOD~H ~ ~{ ~OTION ~ 0N ~ S~TH DAY OF ][Ol~ 196!~ ~ [,~YG P~0~SION ~R OF SA~ ~ ~ FOR ~ P~17~wT ~P~F~~' adoeted= Dece~ee'~ 17, 1968, be smended to read as follows: Section 1. P~susmt to Section One Hmn~ed ~d 9senty-seven~ · ' ~a,-~r 5 of Title 15.1 clause (b)~ of the Constitution of Virs~ma ~nd - '~, ~ o~' ~r~ority of of the Code of VL~nia~ !950~ ~nd mnder ~nd by vH ~u~ _ a the votes cast "Per ~nd Issue"~ at ~n eleotion of the qu~ified voters of the City of Por~smou. th hcld on the seventh ~ay of Nove~ser~ 1961, in order to ~l~e certain ~mrovements~ extensions smd additions to the system of water works of the Ci~ the City of Portsraoush slnall bo~ow vhe su~m of ~e N~llion Six Hmn~ed ~nouss~d ~l!~s ($i~600~000}~ ~r~d there shall be ~ssued One [~!lion Six H~undred thousand Doil~s of bonds of said city he ~o~a as Water ~nds~.cousist~g o~ three hmn~ed ~nd twent.~· bonds Of tlne denotation of Five Thousand Do!!~s each~ n'~s;oer t to 320~ both 19o}: the proceeds ~isi~ ~em the sale of inc!u_sive~ dated ~ ~}~ ' s~ma bonds to be applmed to the pa}~ent of one cos~ of m~i~ .cerv~n ~rov~aents, extensions ~d additions ye the water works system of the City and to no other p'~ose. ~ne s~d bonds shall be~ interest from their date payeble seml-~mua!ly }~h I ~d Sepvember i, of each ye~c~ at suc~ rate or at such different or ~yi~ rates~ not tc exceed six per cent~ per ~mum on tony bond~ as m~y be fixed by the City Cou~aci!