Minutes 08/24/1971 - Laserfiche WebLink

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$250.000 of said bonds to be $250,000 of said bonds to be $2SO,OOO of said bonds to be $2S0,OO0 of said bonds $2SO,OOO of said bonds $2SO 0OO of said bonds $2SO OOO of said bonds $2SO OOO of said bonds $2SO OOO of said bonds $2SO O00 of said bonds $2SO OO0 of said bonds $2SO OOO of said bonds $2SO OOO of said bonds $2SO,0OO of said bonds $2SO,OO0 of said bonds $2SO,OOO of said bonds payable on October 1, payable on October 1, payable on October 1, payable on October 1, payable on October 1, payable on October 1, payable on October 1, payable on October-l, payable on October 1, payable on October 1, to be to be to be to be to be to be to be to be payable to be payable to be payable to be payable to be payable to be payable on October 1, on October 1, on October 1, on October 1, on October 1, on October 1~ 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 $250,000 of said bonds to be payable on October 1, 1988 $250,000 of said bonds to be payable on October 1, 1989 $250,000 of said bonds to be payable on October 1, 1990 $250,000 of said bonds to be payable on October 1, 1991 The said bonds shall be manually signed by the Ma~or and shall be signed by the facsimil~ 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 substantitially the following form, to-wit: UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION BOND NO, $5,000.00 ~he 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 October, 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 severaliy 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 Unite 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 ($5,000,005) and is issued for the purpose of providing funds for the construction of schools, certain other public buildings, recreation facilities, storm sewers, and streets; for the purchase of property for governmental and recreationalpurposes; for the purchase of equipment; for urban purposes; and to pay certain annexation costs pursuant to the order entered in the Circuit Court of the City of Chesapeake, Virginia, on October 2, 1967, annexing certain territory to the City of Portsmouth, effective January 1, 1968, under and pursuant to an in conformity with the Constitution and statutes of the Commonwealth:of Virginia, including Chapter S of Title 1$.l 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 August 24, 1971, and 1971; under said Chapter S. 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 ail ether indebtedness of the City, is within the otherwise authorized indebetedness 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 irrevocable 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 assessme 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 facsimile signature of the City Clerk; and the coupons hereto attached to be authenticated by the facsi simile signature of the City-Treasurer; and this bond to be dated October 1, 1971. ( (SEAL) ~ayor of the City of Portsmouth~ Virginia City Treasurer ts