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3'90
<br />
<br />July 13. 1976
<br />
<br /> Purchase of Fire Protection
<br /> Equipment $ 161,350.
<br /> Dredging and Repairs to Bulkheads 139,486.
<br /> Total $10,000~OO0.
<br />
<br />provided that if any such project shall require less than the entire amount set forth above
<br />opposite such project, the difference may be applied to any other such project.
<br /> 5. The City shall make no use of the proceeds of the sale of the Bonds which would
<br />cause the Bonds to be "Arbitrage bonds" under Section 1OJ(d) of the U. S. Internal Revenue
<br />Code of 1954, as amended, and the City shall comply with the applicable regulations of the
<br />Internal Revenue Service adopted under said Section 1OJ(d) so long as any Bond is outstanding
<br /> 6. The Bonds shall be executed, for and on behalf of the City, by the manual or facsimil
<br />signatures of the Mayor and City Treasurer of the City, and the corporate seal of the City
<br />shall be' impressed or a facsimile thereof imprinted on the Bonds and attested by the manual
<br />or facsimile signature of the City Clerk of the City; provided that at least one of such
<br />signatures on the Bonds shall be a manual signature. The Bonds, except when registered as
<br />to both principal and interest, shall have coupons attached thereto representing the interest
<br />on the Bonds, which coupons shall be executed by the facsimile signature of the said City
<br />Treasurer.
<br /> 7. CUSIP identification numbers may be printed on the Bonds, but neither the failure
<br /> to print any such number an any Bond nor any error or omission with respect thereto shall
<br /> constitute cause for failure or refusal'by the ,successful bidder for the Bonds to accept
<br /> deliver)' of and pay for the Bonds in accordance with the terms of its bid. No such number
<br /> shall constitute or be deemed to be a part of any Bond or a part of the contract evidenced
<br /> thereby and no liability shall attach to the City or any of its officers or agents because
<br /> of or on account of any such number or any use made thereof. All expenses in relation to
<br /> the printing of such numbers on the Bonds shall be paid by the City; provided, however,
<br /> that the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsi~
<br /> of and shall be paid for by the successful bidder for the Bonds.
<br /> A copy of the complete final legal opinion with respect to the Bonds, with the name
<br /> of the attorney or attorneys rendering same, together with a certification of the City Clerk,
<br /> executed by a facsimile signature of that officer, to the effect that such copy is a true
<br /> and correct copy of the legal opinion which was dated as of the date of delivery of and
<br /> payment for the Bonds, may be printed on the Bonds.
<br /> 8. The Bonds, the coupons pertaining to the Bonds and the Provision for Registration
<br /> to be endorsed on the Bonds shall be in substantially the following forms, respectively,
<br /> towit:
<br />
<br />~Form of Bond]
<br />
<br />ility
<br />
<br />UNITED STATES OF ~{ERICA
<br />
<br />COMMON¥~ALTt{ OF VIRGINIA
<br />
<br />CITY OF PORTSMOUTH
<br />
<br />GENERAL OBLIGATION BOND
<br />
<br />NO. $5,000
<br />
<br /> The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, hereby
<br />acknowledges itself indebted for value received and promises to pay to the bearer hereof,
<br />or, if this bond then be registered as herein provided, to the then registered owner hereof,
<br />the principal sum of Five Thousand Dollars ($5,000.) on the first day of August, 19 (subjec
<br />to the right of prior redemption hereinafter mentioned) upon the presentation and surrender
<br />hereof, and to pay interest on said principal sum from the date hereof at the rate of
<br /> per centum ( %) per annum, payable semi-annually on February 1
<br />and August 1, commencing February 1, 1977.
<br />
<br /> This bond may be registered by the holder as to principal only or as to both principal
<br />and interest in accordance with the provisions for such registration endorsed hereon. If
<br />this bond shall not then be registered as to both principal and interest the interest hereon
<br />payable prior to maturity shall be payable at the principal office of The Chase Manhattan
<br />Bank in the City of New York, New York, the paying agent for this bond, but only upon the
<br />presentation and surrender of the respective coupons annexed hereto representing such interes1
<br />as the same become due and payable. The interest on this bond while registered as to both
<br />principal and interest shall be payable by the City of Portsmouth by check or draft mailed
<br />to the registered owner at such owner's address as shown on the books of registry.
<br /> The principal of, premium, if any, and interest on this bond are payable in such coin
<br />or currency of the United States of America as at the respective dates of payment is legal
<br />tender for the payment of public and private debts. Such principal and premium are payable
<br />at the principal office of the aforesaid paying agent for this ~bond.
<br /> This bond is one of an issue of bonds aggregating Ten Million ($10,OOO,0OO.) Dollars
<br /> in principal amount and issued for the purpose of providing funds to pay the cost of various
<br /> public improvement projects of the City of Portsmouth, Virginia, under and pursuant to and
<br /> in full compliance with the Constitution and statutes of the Commonwealth of Virginia, includ~
<br /> lng Chapter 5 of Title 15.1 of the Code of Virginia, 1950, as amended (the same being the
<br /> Public Finance Act), the Charter of said City and proceedings of the Council of said City
<br />
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