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this Bond, interest shall be paid by wire transfer. All interest payments shall be made to the <br /> registered owner as it appears on the registration books kept by the Bond Registrar on the <br /> fifteenth day of the month preceding each interest payment date. <br /> <br /> This Bond has been duly authorized by the City Council and is issued for the purpose of <br /> refunding certain outstanding general obligation public improvement bonds of the City and <br /> paying the costs of issuance of the Bonds. The full faith and credit of the City are irrevocably <br /> pledged for the payment of the principal of and premium, if any, and interest on this Bond in <br /> accordance with its terms. <br /> <br /> This Bond is one of a series of $ General Obligation Public Improvement <br /> <br /> Refunding Bonds, Series 2003 of the City, ("Bonds") of like date and tenor, except as to number, <br /> denomination, rate of interest and maturity, issued under the authority of and in full compliance <br /> with the Constitution and statutes of the Commonwealth of Virginia, and, more particularly, <br /> issued pursuant to the Public Finance Act of 1991, Chapter 26 of Title [ 5.2 of the Code of <br /> Virginia of 1950, as amended, and a Resolution adopted by the City Council on August 12, 2003 <br /> ("Resolution"). <br /> <br /> Bonds maturing on or before 1, 2013 are not subject to redemption before <br /> <br />maturity. Bonds at the time outstanding which are stated to mature on or after August 1, 2014 <br />may be redeemed before their maturities on or after August 1, 2013 at the option of the City in <br />whole or in pan (in installments of $5,000) at any time or from time to time during the following <br />redemption periods upon payment of the following redemption prices (expressed as a percentage <br />of the principal amount to be redeemed) together with the interest accrued thereon to the date <br />fixed for redemption: <br /> <br />-2- <br /> <br /> <br />