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~DATE OF REG~TION -N~ME OF REGI~I~ED HOLDER REGI$'±'~i~ED BY Section 2. Full ~ower and authority is hereby given to the City Manager of the City of Por,smouth to prepare ~_nd issue the said bonds in such form ~nd for such sum as au~thorized by the preceding section. The said City Manager is aut~horized to cause to be ~printed on the back of each 0f said bonds a copy of the cmmplete final legal opinion with respect to said bonds, with the name of the attorney or attorneys rendering s~me, together with a certification of the CitymClerk, evidenced by a facsimile signature of that officer, to the effect that the copy is a true and correct copy of the iega~ opinion which ~s dated as of the date of delivery aud payment of the bonds~ Full power and authority is hereby given the City Manager to make sale of the said bonds, and in such ,manner, at such time ~ond place as the said City M~nager may determine; provided, However, that the same sb~ll not be sold upon a basis which will cost the City of Perts~outh interest at the rate of more thau slx per centt~a per annmm, and that no sale sb~ll be made without the approval of the City Cotnacil. The said bonds shall be- subject to no taxation by the City of Ports~outh, and the said coupons shall be received in payment of all dubs, taxes, and assessments due to the said City. Section 3. The bonds authorized by t~is resolution s~aI1 not be included in determining the limitation upon the power of the City to incur indebtedness under the provisions of Section One Hundred and Twenty-seven, Clause (b), of the Constitution of Virgir~ia, but from and after November 7, 1966, whenever and for so long as the rater works system constructed and improved out of proceeds of said bonds fa~ls to produce sufficient revenue to pay the cos~ of operation and administration, (including interest on bonds issued therefor, and the cost of insursnce against loss or injuries tO per- sons and property), and an annual amount to be covered into a si ~nk~ng fur~ s~fficient to pay at or before ~aturity all bonds issued on acco~unt of said water works' system, all such bonds outstandirg, shall be included in determin- Lug the limitation upon the power of the City of~ Portsrm~uth to incur indebted- ~ess. Section 4. ~nis resoluBion shall take effect from its passage, Adopted by the Co ~tuacil of the City of Portsmouth, Virginia, at a meeting held on December 17, 19~8. Teste: ~ City Clerk