Minutes 07/13/1976 - Laserfiche WebLink

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39! duly adopted and taken under said Chapter The bonds of the issue of which this bond is one maturing on and after August 1, 1987, are subject to redemption at tile option of the City prior to their stated maturities on or after August 1, 1986, in whole at any time, or in part from time to time on any interes' payment date in any order determined by the City (except that if at any time less than all of the bonds of a maturity are called for redemption, the particular bonds of such maturity to be redeemed shall be selected by lot), upon payment of the principal amount of the bonds to be redeemed together with the interest accrued thereon to the date fixed for redemption plus a premium of one-half of one percent of the principal amount of each bond to be redeemed for each six month period or fraction thereof between the date fixed for redemption and the stated maturity hereof, such premium in any event not to exceed three percent of such principal amount. If this bond is redeemable and shall be called for redemption, notice of the redemption hereof, specifying the date, number and maturity of this bond, the date and place fixed for its redemption and the premium, if any, payable upon such redemption shall be given by the City by publication of such notice once in a newspaper printed in the English language and customarily published on each business day and of general circulation in the City of Portsmouth, Virginia, and once in at least one newspaper or financial publication printed in the English language and customarily published on each business day in the City of New York, New York, the date of publication of such notice in each case to be at least thirty days prior to the date fixed for redemption. If this bond is then registered as to principal only or as to both principal and interest, notice of the redemption hereof shall be mailed not less than thirty days prior to the date fixed for redemption by registered mail to the registered owner of this bond at such owner's address as shown on the books of registry; provided, however, that if this bond shall then be registered and notice of redemption is mailed as aforesaid, then notice of the redemption hereof need not be given by publication, and if notice of redemption is given by publication as aforesaid, then if this bond shall then be registered the failure to mail such notice as aforesaid or any defect in any notice so mailed shall not affect the sufficiency of the proceedings for the redemption hereof. If notice of the redemption of this bond shall have been given as aforesaid, and payment of the principal amount of this bond and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made or provided for, interest hereon shall cease from and after the date so specified for the redemption hereof and any coupons representing such interest shall be void. It is hereby certified, recited and declared that all acts, conditions and things requir to exist, happen or be performed precedent to and in the issuance of this bond exist, have happened and have been performed in due time, form and manner as required by law, and that the amount of this bond, together with all other indebtedness of the City of Portsmouth, does not exceed any limitation of indebtedness prescribed by the Constitution or statutes of the Commonwealth of Virginia or the Charter of said City. The full faith and credit of the City of Portsmouth are hereby irrevocably pledged to the payment of the principal of and interest on this bond as the same become due. IN WITNESS WHEREOF, the City of Portsmouth has caused this bond to be executed by the manual or facsimile signatures of its Mayor and City Treasurer and the corporate seal of said City to be impressed or a facsimile thereof imprinted hereon and attested by tile manual or facsimile signature of the City Clerk of said City (provided that one of such signatures hereon Shall be a manual signature]; the coupons pertaining hereto to be executed by the facsimile signature of the said City Treasurer; and this bond to be dated as of the first day of August, 1976. ~SEAL1 Attest: Mayor City Clerk City Treasurer [Form Of Coupont NO. On the first day of , 19 ~ unless the bond hereinafter mentioned shall have been duly called for previous redemption and payment of the redemption price duly made or provided for, the City of Portsmouth, Virginia, will pay to bearer upon the presentation and surrender hereof the sum of Dollars ($ ) in such coin or currency of the United States of America as at the date of payment hereof is legal tender for the payment of public and private debts, at the princip. office of The Chase Manhattan Bank (National Association) in the City of New York, New York, being interest then due on its General Obligation Bond dated as of August 1 1976 and number ed ' , No. -- _~_--~Tr.ea s_~ur e r