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November 25, 1969
<br />
<br />Year of k~ount Year of f%mount
<br /> ~.,~ at ur lng
<br />Maturity Maturing Maturity '~ '
<br />
<br />1970 $ 80,000 1976 S 80,000
<br />1971 80,000 1977 80,000
<br />1972 80,000 1978 80,000
<br />1973 120,000 1979 80,000
<br />1974 120,000 1980 S0,000
<br />t97S 120,000 1981 30,000
<br />
<br />The proceeds arising from the sale of tine Utility Bonds shall be applied to the payment of the costs of acquir-I
<br />lng, constructing, reconstructing, improving, extending or enlarging the revenue producing undertaking of the
<br />City, consisting of its water, sewer and sewage disposal system of the City ~nd to no other purpose.
<br />
<br /> Tile Utility Bonds shall be signed by tile Mayor and by the City Treasurer of the City of Portsmouth, either
<br />of whose signatures upon the Utility Bonds may be a facsimile of his signature. A facsimile of the seal of
<br /> C,erK.
<br />the City of Portsmouth shall 'se imprinted thereon, attested by the facsimile signature of the City ~ ' The
<br />coupons att~cJned to the Utility Bonds shall be signed by the facsimile sigmat~e of the City Treasurer. The
<br />Utility Bonds and coupons pertaining thereto shall be substantially in the following form, to-wit:
<br />
<br />b.WITED STATES OF ~RICA
<br />
<br /> ~'~'~ ~ r T~' OF
<br />CO~ ~.~O,'d~E AL ~ VIRGINIA
<br />
<br />CITY OF PORTSMOUTH
<br />
<br />bTILITY BOND
<br />
<br />NO. $5,000.00
<br />
<br />The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, hereby acknowledges it-
<br />self indebted for value received and promises to Day to t~e bearer, or if this bond be registered, to the re-
<br />gisteredhholder hereof, on tile day of , 19 , tile s~m of Five Thousand Dollars, upon
<br />the surrender hereof, and to pay interest at the rate of per centum per annum payable semi-mnnually on
<br />the day of and in ea--~year, after date, tmtil maturity, upon surrender
<br />of th-~.nexed coupons as' they severally become Rue, or if this Bond be reo~s~ered as to both principal and
<br />interest, to the registered holder hereof. Both principal mud interest of this bond are payable in lawful cur-
<br />rency of the United States of ~%merica, at The Chase Manhattan Bank, N.A., New York, New Yort.
<br />
<br /> This bond may be registered by the holder as to principal or as to both principal and interest in accord-
<br />mnce with the provisions for sucln registration?zid~msed hereon.
<br />
<br /> This bond is one of a series aggregating.On~.b[i!~ion Dallars, mud is issued for ti~e purpose of making
<br />certain improvements, extensions, and additions to the revenue producing umdertaking of the City consisting
<br />of its water, sewers, and sewage disposal systems, under and pursuant to and in conformity with the Constitu-
<br />tion and statues of the Commonwealth of Virginia, including Q~apter S of Title 1S.1 of the Code of Virginia,
<br />1950, the Charter of the City of Por'gsmouth and an election of the qualified voters of the City held tmder said
<br />Chapter S on the fifth day of No~_~ember, 1968, and pursuant to sm. ordinance duly adopted by the Council of the
<br />City of Portsmouth on the eighth day of October, 1968 and resolutions duly adopted by the Comncil of the City
<br />of Portsmouth on the tlth day of November, 1969 and November 2S, 1969, under said Chapter S.
<br />
<br /> It is hereby certified and recited that all acts, conditions and things required~by the Constitution and
<br />statutes of the ComJnonwealth of Virginia, to exist, to have happened, and to be performed precedent ~o and in
<br />the issuance of this bond, exist, have happened and have been performed in due time, form ~nd manner as requir-
<br />ed by !sI~, and ti%at the iss. ue of bonds of which*within the otmae!~;ise authorized indebtedness of said City and
<br />is this is one, together with all other indebtedness of the City, is within every debt ~1~d other limit prescrib
<br />ed by the Constitution m~d laws of tile Commonwealth of Virginia.
<br />
<br /> The full faith and credit of the City of Portsmouth are hereby irrevocably pledged for the payment of the
<br />principal mud interest of this bond. /]lere is also irrevocably pledged to such payment the net revenue pro-
<br />ducing undertaking of the City, consisting of the water, sewers, and sewage disposal systems, and the fees,
<br />rents and charges for the use of said undertsXing shall be maintained at a level which will produce net revenue
<br />sufficient for the payment of said principal and interest sJld for any reserve fund deemed necessary for the ef-
<br />ficient administration of said undertaking and for the protection of the holder of this bond smd the other
<br />bonds issued pursuant to the aforesaid ordinance.
<br />
<br />This bond is not s~Dject to taxation by the City of Portsmouth and ~e coupons hereto attached shall, at
<br />after maturity, be received in payment of all dues, taxes and assessments due to the City.
<br />
<br /> ,~Nm,.S ?fHEREOF, the City of Portsmouth has caused this bond to be signed by the Mayor and by the City
<br />Treasurer of said City either of Whose signatures hereon may be a facsimile of his signature; a facsimile of
<br /> Cte~K, the coupons
<br />the seal of the City to be imprinted hereon, attested by.the racsl._lle signature of the City ~' ·
<br />hereto attached to be authenticated by the facsimile signature of the City Treasurer; mud this bond to be
<br />dated , , 19 .
<br />
<br />The ~ayor of the city of Portsmouth, Vi~gin~ia
<br />
<br /> City Treasurer
<br />
<br />(SEAL)
<br />
<br />Attest:
<br />
<br />*this is one, together with all other indebtedness of ~h~dC~y-:~ ~]s within the otherwise authorized indebtedness
<br />
<br />
<br />
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