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principal and interest of this bond are payable in lawful currency of the United States of America at The Chase Msrhattan Bank, New York, New York. This bond may 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 made, except upon said books until after registered transfer to bearer. Such regis- tration shall not affect the negotiability of coupons which shall continue to pass by delivery. At the request of the holder, this bond will be registered as to both principal and interest and the coupons detached and cancelled and thereafter both principal and interest will be p~yable to the registered holder. This bond is one of a series aggregating Two Million Dollars and is issued for the purpose of providing funds to construct school buildings~ an armory, and sewers under and pursuant to and in confbrmity with the Constitution and Statutes of the State of Virginia, including Chapter 5 of Title 15.1 of the Code of Virginia, and 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 Two Million Dollars of Bonds of The City of Portsmouth, Virginia, to be Known As General Obligation Bonds, For The Purpose of Providing Funds to Con- struct School Buildings, An Armory, And Sewers, Making Provision For The Form of Said Bonds And For The Payment Thereof," adopted March 9, 1965. 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 happened, and to be performed precedent to and in the issuance of this bond, exist, have happened and have been performed in due time, form and manner 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 limit prescribed by the Constitution and laws of the State of Virginia. The full faith and credit of the City of Portsmouth are hereby iri~vocably pledged for the payment of the principal and interest of this bond. This bond is not subject to taxation by the City of Portsmouth and the coupc~s hereto attached shall, at and after maturity, be received in payment of all dues, taxes and assessments due to the City. IN WITNESS WHEPEOP, the City of Portsmouth has caused this bond to be manually ~igned by the Mayor and to be signed by the facsimile si~ature of the City Treasurer of said City, and a facsimile of the seal of the City to be imprinted hereon, attested by the facsimile signature of the City .Clerk, and the coupons hereto attached to be authenticated by the facsimile signature of the ~ and this bond: to be dated