Minutes 06/22/1976 - Laserfiche WebLink

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37. Attest; ~'ity Treasurer ~ity Clerk NO. will in lawful currency of the U-~ted Stat~s Association), New York, New York, being Bond dated (FORM OF COUPON) The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, pay to bearer on the day of , 19 , the sum of of America at The Chas-~Manhattan Bank (National the interest then due on its General Obligation No. City Treasurer ' This bond may be registered of Finance of the City of Portsm registration being noted hereon which no transfer shall be eff¢c the paying agents for this bond duly authorized and similarly no it may be discharged from such r it shall be transferable by deli tion of this bond as to prlncipa of the coupons pertaining hereto payable only to the registered h. tion blank below that the bond i the consent of the holder and th. registered as to both principal ~ converted into a bond registered but always at the expense of the as to principal and interest, in' on this bond, to date of maturit shall note in the registration b only or payable to bearer. (FORM OF REGISTRATION) in the name of the holder on the books kept by the Director 3uth, Virginia, as Registrar, as to principal only, such by the Registrar in the registration blank below, after tire against the Registrar, the City of Portsmouth and ~nless made on said books by the registered holder or attorney ted by the Registrar in the registration blank below; but ~gistration by being transferred to bearer, after which zery, but it may be again registered as before. The registra- shall not restrain the negotiability by delivery merely but the coupons may be surrendered and the interest made lder, in which event the Registrar shall note in the registra registered as to interest as well as to principal. With City of Portsmouth, this bond when converted into a bond nd interest may be reconverted into a coupon bond and again as to both principal and interest as hereinabove provided, holder. Upon reconversion,of.this bond, when--registered :o a coupon bond, coupons representing the interest to accrue · shall be attached thereto by the Registrar, and the Registra ~ank below whether the bond is registered as to principal DATE OF REGISTRATION: Section 2. The full IN WH~ ,E NAME REGISTIRED: faith and credit of MANNER OF REGISTRATION: SIGNATURE OF REG I STRAR: payment of the principal of and of such principal and interest, to levy ad valorem taxes without to taxation by the City. Section 3. Pull power and author the City of Portsmouth shall be pledged to the nterest on the Bonds as the same become due. For the payment he City of Portsmouth shall have power-and be obligated limitation as to rate or amount on all the property subject ity is hereby given to the City Manager of the City of Portsmouth to prepare and issue the Bonds in Such.form~and for such sum as is authorized by Section 1 hereof. : The City Manager is authorized to cause-to be imprinted~on the backs of each of the BOnds, a copy of tlhe complete final legai opinion with respect to the Bonds, with the name of the attorney or lattorneys rendering same, together with a certification of the City Clerk evidenced by.a Ifacsimile ~signature. of that officer, to the effect that the copy is a true and ~orrect c°lpy of the legal opinion which was dated as of.the date of delivery of and paYment for t~e Bonds. FUll po~er and authority is hereby given the City Manager~to sell said bonds i~ such manner, either at Public or private sale, and at such time and place, as the City 14anager may determine; providedi however, that no sale shall be made without the approva of the City Cohncil. Section 4. All resolutions or or of this resolution, are to the ex Section 5. This resolution shall Ayes: Nays' ers, or parts thereof, in conflict with the provisions ;ent of Such conflict hereby repealed. take effect from its passage." Barnes, Earl.y, Elliott, Holley, Oast Davis None '