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<br />.... <br /> <br />^ <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />without presentation of this Bond; provided that as long as Cede & Co. is the registered owner of <br /> <br /> <br />this Bond, interest shall be paid by wire transfer. All interest payments shall be made to the <br /> <br /> <br />registered owner as it appears on the registration books kept by the Bond Registrar on the <br /> <br /> <br />fifteenth day of the month preceding each interest payment date. <br /> <br /> <br />This Bond has been duly authorized by the City Council and is issued for the purpose of <br /> <br /> <br />(i) refunding certain outstanding general obligation public utility bonds of the City and (iii) <br /> <br /> <br />paying the costs of issuance of the Bonds. The full faith and credit of the City are irrevocably <br /> <br /> <br />pledged for the payment of the principal of and premium, if any, and interest on this Bond in <br /> <br /> <br />accordance with its terms. In each year while the Bonds, or any of them, are outstanding and <br /> <br /> <br />unpaid, there shall be assessed, levied and collected, at the same time and in the same manner as <br /> <br /> <br />other taxes of the City are assessed, levied and collected, a tax upon all taxable property within <br /> <br />the City, over and above all other taxes, authorized or limited by law and without limitation as to <br /> <br />rate or amount, sufficient to pay when due the principal of and premium, if any, and interest on <br /> <br />the Bonds, if funds available to the City, including the revenues of the water and sewer system, <br /> <br />are insufficient for that purpose. The Bonds are issued pursuant to Article VII, Section 10(a)(2) <br />of the Constitution of Virginia, and are not to be included in the limitation prescribed by Article <br />VII, Section 1O(a) of the Constitution of Virginia, but from and after five (5) years after the date <br />of the election on the question of the issuance of the Prior Tax-Exempt Public Utility Bonds, <br />whenever and for so long as such revenue-producing undertaking fails to produce sufficient <br />revenue to pay for cost of operation and administration (including interest on the Bonds) and the <br /> <br />cost of insurance against loss by injury to persons or property, and an annual amount to be placed <br /> <br />into a sinking fund sufficient to pay the Bonds, at or before maturity, all outstanding Bonds <br /> <br />-2- <br /> <br />