Minutes 09/26/1972 - Laserfiche WebLink

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of equipment for transportation, public safety and waste disposal; there shall be issued Five Million Dollars of bonds of said City to be known as General Obligation Bonds, consisti of one thousand bonds of the denomination of Five Thousand Dollars each, numbered 1 to 1,000, both inclusive, dated November 1, 1972, and bearing interest from date payable semi- annually on May 1, and November 1, of each year at such rate or at such different or varying rates as may be fixed by the City Council prior to their execution. Both principal and interest of said bonds shall be payable in lawful currency of the United States of America, at The Chase Manhattan Bank (National Association), New York, New York, and the said bonds shall mature serially, in numerical order as follows: $25O $25o $250 $25o $250 $250 $25o $250 $25o $250 $250~ $25o $25o $250 $25o $2S0 $250 $25o $25o $250 000 of said .000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said 000 of said bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on bonds to be payable on November 1 1973 November 1 1974 November 1 1975 November 1 1976 November 1 1977 November 1 1978 November 1 1979 November 1 1980 November 1 1981 November 1 1982 November 1 1983 November 1, 1984 November 1, 1985 Nbvember I, 1986 November 1, 1987 November 1, 1988 November 1, 1989 November 1, 1990 November 1, 1991 November 1, 1992 ~g The said bonds shall be manually signed by the Mayor and shall be signed by the facsimile signature of the City Treasurer, of the City of Portsmouth with a facsimile of the seal of the City to be imprinted thereon, attested by the facsimile signature of the City Clerk, and the coupons shall be signed by the facsimile signature of the City Treasurer, and said bonds, coupons and the provisions for registration thereof shall be in substantially the following form, towit: UbIITED S~ATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION BOND No. $5,000.00 The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, hereby acknowledges itself indebted for value received and promises to pay to the bearer, or if this bond be registered, to the registered hOlder hereof, on the first day of November, 19 , the sum of Five Thousand Dollars, and to pay interest thereon at the rate of per centum per annum payable semiannually on the first day of April and October in'each Year, after date, until maturity, upon surrender of the annexed coupons as they severally become due, or if this bond be ~registered as to both principal and interest, to the registered holder hereof. Both principal and interest of this bond are payable in lawful currency of the united States of America at The Chase Manhattan Bank (National Association), New York, New York. This bond is one of a series aggregating Five Million Dollars ($5,000,000) and is issued for the purpose of providing funds for urban renewal purposes, the construction of public buildings, curbs, gutters and drainage facilities, street and highway improvements for construction and equipment of certain parks and recreation facilities; and for purchase of equipment for transportation, public safety and waste disposal, under and pursuant to and in conformity with the Constitution and statutes of the Commonwealth of Virginia, includ lng Chapter 5 of Title 15.1 of the Code of Virginia, 1950, and the charter of the City of Portsmouth, and pursuant to resolutions of the Council of the City of Portsmouth adopted September 26, 1972, and , 1972, under said Chapter 5. It is hereby certified and recited that all acts, conditions and things required by the Constitution and statutes of the Commonwealth of Virginia, to exist, to have happened, and to 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 issue of bonds of which this is one together with all other indebtedness of the City, is within the otherwise authorized indebtedness of said City, and is within every debt and other limit prescribed by the Constitution and laws of the Commonwealth of Virginia. 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. This bond is not subject to taxation by the City:of Portsmouth and the coupons hereto attached shall, at and'after maturity, be received in payment of all dues, taxes and assess- ments due to the City. IN WITNESS WHEREOF, the City of Portsmouth has caused this bond to be manually signed by the Mayor and to be signed by the facsimile signature of the City Treasurer of said City, and a facsimile of the Seal of the City to be imprinted hereon, attested by the