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after date, until ~at~rity, upon surrender of the annexed coupons as they severally become due, or if this bond be registered as to both principal and interest, vo the registered holder hereof. Both principal and interest of this bond are payable in lawful cmrrency of the Ur~ited States of America at~ The Chase Mar~nattan Bar~ (National Association), New York~ New York, This bor~ rmay~ be registered as to principal by the holder in his name on the books of the City Auditor and such registration shall be noted hereon, after which no valid transfer hereof shall be rode, except upon said books until after registered transfer to bearer. Such registration shall not affect the negotiability of coupons which shall continue to pass by .delivery. At the requesv of the holder, t~is bond ~rill be registered as. to both principal and interest and the coupons detached and cancelled, and thereafter both principal and interest will be payable to the registered holder. This bond is one of a series aggregating Eig~ht Million Five Hundred Thousand Dollars and is issued for the purpose of providing funds to pay the City's share of the cost of construction of a marine terminal at Pinners Point, for the construction of schools, ~erts~ other public buildings, rec- reational facilities, sewers and svree~s~ for the p~rchase of property for educational and port development purposes, and~for urban renewal purpose's, under and ~ursuant to and in conformity ~ith the Constitution and Statutes of the State of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, smd the Charter of the City of Portsmouth, and pursuant to an ordinance of the Council of the City of Portsmouth, entitled: "AN ORDINANCE AUTHORIZING THE ISSUANCE OF EIGHT RYfLLION FIVE HUNDRED THOUSAND DOI~ARS OF ~ONDS OF %~iiE CITY OF PORTSMOUi~, VIRGINIA, TO BE KNOWN AS GE~2~RAL OBLIGATION BO>IDS, FOR ~E PURPOSE OF PROVIDING FUNDS TO PAY T~E CITY'S SHARE OF THE COST OF CONS~iRUCTION OF A -~T PINNERS PO~T, FOR ~r2t CONSTRUCTION OF SCHOOLS, C~RTAiN OT~R PUBLIC BUILDINGS, RECRF~&TIONAL FACILITIES, SE~fERS AND STREETS, FOR ~ PUR~IASE OF PROPERTY FOR EDUCATIONAL ~ND FORT DEVE[OPi~NT PURPOSES, ~N]D FOR URBAN REN~AL PURPOSES, AND ~ZING PROVISION FOR T~ FOP~ OF SAID BONDS ~ND FQR THE PAY~.~2'~f THEREOF", adopted June 14; 1966, as amended by an ordinance adopted February 28, 1967, urger said Uhapter 'It is hereby certified and recited that all acts, conditions and things required by the Constitution and Statutes of the State of Virginia, to exist, to have b~ppened~ and to be performed precedent to and in the issuance of this bond, exist, have happened and have been performed in due time~ fora and mariner as required by law, and that the issUe-of bonds of which this is one, together with all other indebtedness of the City, is within the otherwise authorized indebtedness of said City~ and is within every debt and other lin~it prescribed by the Constitution and laws of the State of Virginia. -4-