2008 Ordinances - Laserfiche WebLink

Home Browse Search

this Bond, interest shall be paid by wire transfer. All interest payments shall be made to the registered owner as it appears on the registration books kept by the Registrar on the [fifteenth] day of the month [preceding] each interest payment date. This Bond is one of a series of $ General Obligation Bonds, Series _, of the City (the "Bonds"), of like date and tenor, except as to number, denomination, rate of interest and maturity, issued under the authority of and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, and, more particularly, issued pursuant to the Public Finance Act of 1991, Chapter 26 of Title 15.2 of the Code of Virginia of 1950, as amended, and an Ordinance adopted by the City Council on December 9,2008 ("Ordinance"). The Bonds have been duly authorized by the City Council and have been issued (i) to finance or refinance various capital improvement projects which may include one or more of the following: public utility improvements, drainage and street improvements, education/school improvements, economic development projects, leisure services improvements, public safety improvements, parking facilities improvements, and municipal facilities improvements; and (ii) to pay the costs of issuing the Bonds. The full faith and credit of the City are irrevocably pledged for the payment of the principal of and premium, if any, and interest on this Bond in accordance with its terms. Bonds maturing on or before , 20_ are not subject to redemption before maturity. Bonds at the time outstanding which are stated to mature on or after ,20_ may be redeemed before their maturities on or after , 20_ at the option of the City in whole or in part (in installments of $5,000) at any time or from time to time during the following redemption periods upon payment of the following redemption prices (expressed as a percentage -2-