Minutes 09/12/1972 - Laserfiche WebLink

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September 12, 1972 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 for the payment of the principal and interest of this bond. The principal and interest hereof shall be payable from ad valorem taxes without limitation of rate or amount, if the revenues of the aforesaid undertaking consisting of the water, sewer, and sewage disposal systems are insufficient for that purpose. 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 %igned by the Mayor and by the City Treasurer of said City either of whose signatures hereon may be a facsimile of his signature; a facsimile of the seal of the City to be imprinted hereon, attested by the facsimile signature of the City Clerk, the coupons hereto attached to be authenticated by the facsimile signature of the City Treasurer; and this bond to be dated , 19 Mayor City of Portsmouth, ~¢irginia (SEAL) Attest: City Treasurer City Clerk (FORM OF COUPON) NO. The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, will pay to bearer on the day of , 19 , the sum of in lawful currency of the~d States of America, at The Chase Manhattan Bank, N.A., New York, New York, being six months' interest then due on its Utility Bond dated , 19 No. City Treasurer (FORM OF REGISTRATION) This bond may be registered in the name of the holder on the books kept by the Director of Finance of the City of Portsmouth, Virginia, as Registrar, as to principal only, such registration being noted hereon by the Registrar in the registration blank below, after which no transfer shall be effective against the Registrar, the City of Portsmouth and'the paying agents for this bond unless made on said books by the registered holder or attorney duly authorized and similarly noted by the Registrar in the registration blank below; but it may be discharged from such registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be again registered as before. The regist~ of this bond as to principal shall not restrain the negotiability by delivery merely of the coupons pertaining hereto, but the coupons may be surrendered and the interest made payable only to the registered holder, ~n which event the Registrar shall note in the regist tion blank below that the bond is registered as to interest as well as to principal. With the consent of the holder and the City of Portsmouth, this bond when converted into a bond registered as to both principal and interest may be reconverted into a coupon bond and again converted into a bond registered as to both principal and interest, as hereinabove provided but always at the expense of the holder. Upon reconversion of this bond, when registered as to principal and interest, into a coupon bond, coupons representing the interest to accr~ on this bond to date of maturity shall be attached thereto by the Registrar, and the Regist~ shall note in the registration blank below whether the bond zs registered as to principal only or payable to bearer. DATE OF IN WHOSE NAME ~NNER OF REGISTRATION: REGISTERED: REGISTRATION: SIGNATURE OF REGISTRAR: ~tion ?a- ir