Minutes 10/10/1975 - Laserfiche WebLink

Metadata

Thumbnails

Annotations

21< October: 20.. 2~-Z.5 , This bond is one of an issue of bonds of like date, denomination and tenor herewith (except for nmmber~ interest rate and maturity) aggregating Eight Million Two Hundred Thousand Dollars ($8,200,000) and ms issued for the purpose of acquiring certain port improvements, and to construct certain additional port i~urove- ments, which oort improvements constitute a revenue producing under- taking of the City. This bond and the bonds of the mssue of which it is one are issued under and pursuant ho and in conformity with the Constitution and statutes of the Commonwealth of Virginia~ including Chapter 5 of Title 15.1 of the Code of Virginia, 1950, the Charter of the City of. Portsmouth and an election of the qualified voters of the City held under said Chapter 5 on the third day of November, 1970, and pursuant to Ordinance No. 1970-90 duly adopted by the Council of the City of Portsmouth under said Chapter on the twenty-ninth day of Septe~_~er, 1970, and a resolution duly adopted by the Council of the City under said Chapter on the day of October, 1975. The bonds of the issue of which this bond is one maturing on and after November 1~ 1986 are subject to redemption at the option of the City of Portsmouth prior to maturity on or after November 1~ 1985, in whole at any time, or in part from time to time on any interest payment date in any order determined by the City (except that if less than all of the bonds of a maturity are called for redemp- tion; the particular bonds of such maturity to be redeemed shall be selected by lot), from any moneys that may be made available for such purpose, at the principal amount of the bonds to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus a premi~m~ of one quarter of one percent (1/4 of 1%) of the principal amount of each bond to be redeemed for each twelve months' period or fraction thereof between %he date fixed for redemption and the stated maturity date of such bond, such premium in any event not to exceed three percent (3%) of such principal amount. If this bond is redeemable and shall be called forreme.~tp' m ~'~mon, notice of the redemption hereof, specifying the ~ 'o-~ GeSiL ~a_lon r date maturity of this bond, the number hereof unless all the bonds of the issue of which this bond. is one then outstanding shall then be called for redemption, the date and place zmx~a for zts redemption and the premium~ if any~ payable upon such redemption, shall be given by publication of such notzce once in a daily newspaper printed in the English language and customarily published, on each business day