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0 ct o b e.r_2f~_lg~3
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<br />Section 1. Pursuant to Article VII, Section 10, Clause (a)(2), of the Constitution of
<br />Virginia and Chapter 5 of Title 15.1 of the Code of Virginia, 1950, the referred to ordin
<br />ance and under and by virtue of a majority of the votes cast "For Bond Issue", at an
<br />election of the qualified voters of the City of Portsmouth held on the second day of
<br />November, 1971, in order to make certain improvements, extensions and additions to the
<br />revenue producing undertaking of the City, consisting of its combined water, sewer and
<br />sewage disposal systems, the City of Portsmouth shall borrow the sum of Two Million Five
<br />Hundred Thousand Dollars ($2,500,000) and there shall he issued Two Million Five Hundred
<br />Thousand Dollars of bonds of said City to be known as "Utility Bonds" (herein referred
<br />to as the "Utility Bonds"), to evidence such borrowing. The Utility Bonds shall consist
<br />of five hundred bonds of the denomination of Five Thousand Dollars each, numbered 1 to
<br />500, both inclusive, dated December 1, 1973, and bearing interest from date payable semi-
<br />annually on June 1, and December 1, of each year at such rate or at such different or
<br />varying rates as 'may be fixed by the City Council prior to their execution. Both principa
<br />and interest of said bonds shall be payable in lawful currency of the United States of
<br />America, at The Chase Manhattan Bank (National Association), New York, New York, and
<br />the said bonds shall mature serially, in numerical order as follows:
<br />
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />$125
<br />2125
<br />$125
<br />
<br />000 of said bonds to be payable on December l,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payabl, e on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December 1,
<br />000 of said bonds to be payable on December I
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1
<br />000 of said bonds to be payable on December 1,
<br />
<br />1974
<br />1975
<br />1976
<br />1977
<br />1978
<br />1979
<br />1980
<br />1981
<br />1982
<br />1983
<br />1984
<br />1985
<br />1986
<br />1987
<br />1988
<br />1989
<br />1990
<br />1991
<br />1992
<br />1993
<br />
<br /> The said bonds shall be manually signed by the Mayor and shall be signed by the
<br />facsimile signature of the City Treasurer, of the City of Portsmouth with a facsimile
<br />of the seal of the City to be imprinted thereon, attested by the facsimile signature
<br />of the City Clerk, and the coupons shall be signed by the facsimile signature of the
<br />City Treasurer, and said bonds, coupons and the provisions for registration thereof shall
<br />be in substantially the following form, to~it:
<br />
<br />UNITED STATES OF A~{ERICA
<br />COMMONWEALTH OF VIRGINIA
<br /> CITY OF PORTSMOUTH
<br /> UTILITY BOi~
<br />
<br />No. $5,000.00
<br />
<br /> The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia,
<br />hereby acknowledges itself indebted for value received and promises to pay to the bearer,
<br />or if this bond be registered, to the registered holder hereof, on the day of
<br /> , 19 , the sum of Five Thousand Dollars, upon the surrender h~
<br />and to pay interest at t--h-~ rate of per centum per annum payable semi-annually
<br />on the 1st day of June and December' in---~ch year, after date, until maturity, upon surrend
<br />of the annexed coupons as they severally become due, or if this Bond be registered as
<br />to both principal and interest, to the registered holder hereof. Both principal and
<br />interest of this Bond are payable in lawful currency of the United States of America,
<br />at The Chase Manhattan Bank, N.A., New York, New York.
<br />
<br /> This bond may be registered by the holder as to principal or as to both principal
<br />and interest in accordance with the provisions for such registration endorsed hereon.
<br />
<br /> This bond is one of a series aggregating Two Million Five Hundred Thousand Dollars,
<br />and is issued for the purpose of making certain improvements, extensions and additions
<br />to the revenue producing undertaking of the City consisting of its water, sewer, and
<br />sewage disposal systems, unaer and pursuant to and in conformity with the Constitution
<br />and statutes of the Commonwealth of Virginia, including Chapter 5 of Title 15.1 of the
<br />Code of Virginia, 1950, the Charter of the City of Portsmouth and an election of the
<br />qualified voters of the City held under said Chapter 5 on the second day of November,
<br />1971, and pursuant to an ordinance duly adopted by the Council of the City of Portsmouth
<br />on the fifteenth day of September, 1971, and a resolution duly adopted by the Council
<br />of the City of Portsmouth on the 23rd day of October, 1973, under said Chapter 5.
<br />
<br /> It is hereby certified and recited that all acts, conditions and things required
<br />by the Constitution and statutes of the Commonwealth of Virginia, to exist, to have happe]
<br />and to be performed precedent t.o and in the issuance of this bond, ex~st, have happened
<br />and have been performed in due time, form and manner as required by law, and that the
<br />issue of bonds of which this is one, together with all other indebtedness of the City,
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