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'i]~e City of [~ortsr~uutn, a municipal co~oo~mtion of the State o~
<br />Viz'~;h~ia, hereby aci.~owied~;es its'elf indebted for value ~ceive~ ~ pro~ses
<br /> p~ ye the be~er, or if t~s ~ond be ~ste~d, tothe ~f~stere~ holder
<br />~ereof, o~ the first d~ of April 19 ~ the s~ of Five Tho~m~d Dollars~
<br />;ma to pay ~nterest the~o~ at the rate of per centare per ~m~ p~-
<br /> ~.~ie se~mually on the first d~ of ~rii .~d October in eac~ ye~ a~er
<br /> ~ate, ~tii ~turity, ~o~] su~nder of the ~nexed coupons ~ they seve~lLy
<br /> ~.~.r..~.~me, ~1ue, or if this bond be ~f~ste~d ~ to both pr~cip~ ~d inte~st,
<br /> the re~ste~d holder he,of. Both pr~cip~ ~d inte~st of this bond
<br />~x~e uaypble ~] law~ c~ncy of the United States of ~rica, at 7~]e Chase
<br />......... r ~' A., New York, ~ew Yo~x.
<br />
<br /> This b~'~d may be registered as to prJnmipal by the holder in ~is name
<br />~ the ~oo~s of the City Auditor and such registration shall ~e noted hereon,
<br />after wizich no valid transfer hereof shall be made, except upon said books,
<br />tmtii after registered transfer to oearer, ouc~ re~zstratzon ~hall not affeco
<br />the negotiability of coupons ~Ynic~ shall continue to pass by delive~y. At
<br />the request of the holder, this 0end will be registered as to both principal
<br />and interest and the coupons detached and c~2ncelled~ and thereafter both
<br />pri~mipal and ~terest will be payable to the registered holder.
<br />
<br /> ~zis bond is one of a series ag~ffegati~g ~e ~liion Five Htmdred
<br />%7~ousand Dollars, a~ is issued for the p~ose of ~g ce~ Lmorove-
<br />new,ts, extensiorm m~d ad~tio~ ~o 5l~e sewa~ ~spos~ s~svem of the City,
<br />~der smd p~s~5 to ~d in confo~ty ~.~th the Co, tire, ion ~d Statutes
<br />of the State of VirF~a, ~cludLng ~apter 5 of Title i5~1 of the Code of
<br />Vir~nia, 1950, the ~er of the City of Po~outh ~d ~ electim'~ of the
<br />~.maiified voters of the City held on the second d~' of Nov~ber, 1965, ~d
<br />p~su~t to o~ces duly adopted by the Co~cil of the City of Po~smout~
<br />on the twenty-ei~t~ d~~ of Septe~oer, 1965, mhd the ei~th d~. of Feb~y,
<br />1966, mn~r s~d ~ter 5.
<br />
<br /> It is hereby certified amd recited that all acts, conditions and
<br />tD~a~s required by the Constitution and Statutes of the State of Viryjmia, to
<br />exist, 5o have ~appened, and to be performed precedent 5o a~d in the issuance
<br />of this bond, exist, have happene¢~ and have been performed in due tJ~ue, form
<br />and msrmer as required by law, an~ that the issue of bonds of w~zich t~is is
<br />one, together with all other indebtedness of the City, is wit~ the o5her-
<br />wise authorized indebte~ess of said City, arid is within every debt and other
<br />limit prescribed by the Constitution and laws of the State of Virginia.
<br />
<br /> The full faith and credit of the ~=ty of Portsmout~ are nereoy
<br />~.~ evocabm~ pledged for the pa~uent of the principal and Jmterest of this
<br />bond, ~d t~e net revenue of the sewage disposal system of ~ine City is hereb~[
<br />irrevocably pledged to the payment of the princip.al and LntSrest of this bona,
<br />mhd the fees, rents and charges For the use of samd system stroll be. m~ntained
<br />a5 a level ~;hmch wmll produce ~et revenue suzfzc=ent for the payment of the
<br />principal arid interest and for arff reserve fund deemed necessary for the
<br />efficient ~administration of the sewage disposal system, and for the protec-
<br />tion .of t~ holder of this bond ~'~d the other bonds issued pursuant to said
<br />
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