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A P~SOLb~PION TO APPRO¥7~ ~ S~.~ OF S~{ P~ZELLION DOL~=RS OF TEMPo~&Ry IO~ N ~OTES PRO}TDED I2{ A RESOLL~ION ~Ai}O_ ~I~.~D BY TNZ CITY_ 80b%ICIL ON NOV~2,~ER 28~ 1967, A!~i-\~!NG S~ RESOLb~iON ~,[~t PSSPECT TO~ FO~,~ ~D TEP~',~ OP SAID NO_~S, ~.~ FI3[ING %I~.~ RA~ OF IR~SST FOR SA~rD N_OYES. ~.6S~ the City Y~t~,~lger of the City of Portsmouth has received proposals for the purchase of Seven Million Do!l~ms of Tem~orsry Loan Notes authorized by a resolution adopted by the City Council on Novemfoer 28~ 1967, and First and Merchsmts N~tior~! BaNff, ~mericsan National Baml<~ ~nd IT. ae B~%~_ of Virginia have subPitted the best D~er for the p~Fchase of said noves~ ~nd the City Msma~er has reco~ended that the said offers be approved. NOW, ~r~FO. RE~ BE IT HESOLV~. by the Co~uncil of the City of Portsmouth, Virgi~ia: 1. ~nat the sale of Seven ~i!tion Dollars of Temeorsry Loem Notes of the City of Portsmouth, Virgi~ia, authorized by a resolution adopted by the Council of the City of Portsmou.~h, Virgiria: on November 2~ 1967, be, s_nd the same hereby are approved: in accordes~ce with the ter~s of the respective bida submitted, to the foltov.~r~ p'~rchasers: (a) First and Merchsmts National Bar, k: Tv~o M~tion ~nd no/10G ($2,000~000.00) Dollars of Te~orar~j Loan Notes to bes~ interest au the re.~e of three ~nd seventy one-humdredths (3.70) ~er cent~n ~er annmm. (b) First and Merchants National Bamk: One ~tl~on s~nd no/lO0 ($t~000~000,00) Dotts~s of Te~porsFy Loan Notes vo bes_~ interest at the rate of three ~_d ei~ty one-hundredths (3.80) per centum per amnum. (e) First and Merchants National B~nt~: One [~,~ltion and no/100 ($1~000~000.00) Dollars of Te~v~. ora~y Loan Notes to bear interest at the rate of three &nd seventy-five one-hundredths (3.75) per centrum per a~m~mm. (d) Americ~an Natior~I Ban2<: One M~llion ~,~o H~ed Thouss~ad ~d no/100 ($1,200,000.00) Dollars of Ter%oorar%. Loan Notes ~o bes_~ interest at the rate of t?~ee and sixty-eigln_t one-hundredths' ~' (3.68) per cen~m ~er (e) The Bs_nk of Virginia: One [~llion Eigjat Hundred ~hous~nd ~nd no/100 ($1,800,000.00) Dollars of Terporary Loan -~[otes to bear interest at the rate of ti~ree and eighty-five one-h'~undredths (3.$5) per centum 2. l~ne r~tes shall be issued in bearer fo~ with provision for registration as to principal and interest. Each note shall be payable as to both principal a~ interest at the principal office of the original p~k~chaser; or at such other place as may ~e desigNs, ted by the sudcessful ~idders~ Shall be signed 8y the City Treas~keer or Deeuty city Treasu_~er smd tlne cor~eorate seal of the City of Portsmouth sh~l be affixed and attested by the City Clerk or Deeuty City Clerk. ~ae rotes shall be issued in subst~atially the folio~gr~ fora: