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which no valid Transfer hereof shall be made, except npon said books until after registered transfer to bearer. Such registration shall not affect the negotia- bility 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 payable to the registered holder. ~nis bond is one of a series aggregating One Million Eight Hundred Thousand Dollars and is issued for the purpose of providing funds to construct a new municipal incinerator, to remodel and equip an existing building for use as a municipal library, and 5o construct certain street and utility improvements under and pursuant to and in conformity with the Constitution and Statutes of the State of Virginia, including Chapter 19.1 of Title 15 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 One Million Eight Hundred ~nousand Dollars Of Bonds Of The City Of Portsmouth, Virginia, To Be Kno%~n As General Obligation Bonds, For The Purpose Of Providing Funds To Construct A New Municipal Incinerator, To Remodel And Equip ~_u Existing Building For Use As A Municipal Library, And To Construct Certain Street And Utility improvements, Making Provision For The Form Of Said Bonds And For The Payment ~nsreof," adopted March 20, 1962. It is hereby certified and recited that all acts, condition~and things required by the Constitution and Statutes of the State of Virginia, to exist, to -4-