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<br />EXHIBIT A <br />(FORM OF TEMPORARY BOND) <br /> <br />NO. TS-I <br /> <br />$ <br /> <br />UNITED STATES OF AMERICA <br />COMMONWEALTH OF VIRGINIA <br />CITY OF PORTSMOUTH <br />General Obligation School Bond <br />Series 2006 <br /> <br />The CITY OF PORTSMOUTH, VIRGINIA (the "City"), for value received, hereby <br /> <br />aeknowledges itself indebted and promises to pay to the VIRGINIA PUBLIC SCHOOL <br /> <br />AUTHORITY the principal amount of Dollars <br /> <br />($ <br /> <br />), in annual installments in the amounts set forth on Schedule I attached hereto <br /> <br />payable on July 15,2007 and annually on July 15 thereafter to and including July 15,20_ (each <br /> <br /> <br />a "Principal Payment Date"), together with interest from the date of this Bond on the unpaid <br /> <br /> <br />installments, payable semi-annually on January 15 and July 15 of each year commencing on <br /> <br />July 15, 200_ (each an "Interest Payment Date"; together with any Principal Payment Date, a <br /> <br />"Payment Date"), at the rates per annum set forth on Schedule I attached hereto. Both principal <br /> <br />of and interest on this Bond are payable in lawful money of the United States of America. <br /> <br />For as long as the Virginia Publie School Authority is the registered owner of this Bond, <br /> <br />First Union National Bank, Richmond, Virginia, as bond registrar (the "Bond Registrar") shall <br /> <br />make all payments of principal of, premium, if any, and interest on this Bond, without <br /> <br />presentation or surrender hereof, to the Virginia Public School Authority, in immediately <br /> <br />-6- <br />