|
Nmmmh~ 2~ lq6q
<br />
<br />City Clerk
<br />
<br />(FO~4 OF COUPON)
<br />
<br />NO.
<br />
<br /> The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, will pay to bearer on the
<br /> day of , 19 , the sum. of being
<br />~n tm~ful currency of the United States o£"~merica, at The Chase Manhattan Bank, N.A., New York,'"'~ew York,
<br />six months' interest then due on its Utility Bond dated ,,, , 19 ,
<br />NO.
<br />
<br />City Treasurer .....
<br />
<br />(FOPd~ OF REGISTRATION)
<br />
<br /> This bond may be registered in the name of the holder on the books keot by the City Auditor of the City of
<br />Portsmouth, Virginia, as Registrar, as to principal only, such registratio~ being noted hereon by the Registrar
<br />in the registration blank bel~e?, after which no transfer shall be effective against the Registrar, the City of
<br />Portsmouth and the paying agents for this bond ufiless made on said books by the registered holder or attorney
<br />duly authorized ~nd similarly noted by the Registrar in the registgation blank below; but ~t may be discharged
<br />from ~u~h registration by being transferred to bearer, after which it shall be transferable by delivery, but it
<br />may be again registered ~g before. The registration ~f this bond as to principal shall not restrain the negoti-i
<br />ability by delivery merely of the c%~pons Pertaining hereto, but the coupons may be surrendered and the interest
<br />made payab.l~ only to the registered holder, in which event the Registrar shall note in the registration blank
<br />below~that the bond is registered as to interest as well as to principal. With the consent of the holder and
<br />tlne City of Portsmouth, this bond when converted into a bond registered as to both principal and interest may be
<br />reconverted into a coupon bond mud again converted into a bond registered as to bot~ principal and interest, as
<br />hereinabove provided but always at ~he expense of the holder. Upon reconversion of this bond, when registered
<br />as to principal and interest, into a coupon bond, coupons representing the interest to accrue on this bond to=
<br />date of matur%ty shall be attadled ~iereto ~y the Registrar, and the Registrar shall note in the registration
<br />bl~nk below %~;nether the bond is registered as to principal only or pay~le to bearer.
<br />
<br />DATE OF
<br />REGISTRATION:
<br />
<br />IN I'THOSE NK~
<br />REGISTERED:
<br />
<br />M~NNER OF
<br />REGISTRATION:
<br />
<br />SIGNATUP~ OF
<br />REGISTRAR:
<br />
<br /> ~SECTtON 2. The full faith and credit of the City of Portsmouth shall be pledged %o the payment of the
<br />principal of mud interest on the Utility Bonds. The Utility Bonds shall be additionally secured by the net
<br />revenue of said revenue pro,Icing undertaking of the City, consisting of the water, sewers and sewage disposal
<br />system, and said net revenues are hereby irrevocably pledged to the p~vment of the principal ~nd interest of the
<br />Utility Bonds as they severally become due, and the fees, rents mad dlarges for the use of said undertaking
<br />sufficient for the payment of said principal and interest mud for mny reserve fund deemed necessary for the ef-
<br />ficient admgni~tration of said undertaking smd for the protection of the holder of the Utility Bends.
<br />
<br /> A sufficient amount of the revenue derived from the aforesaid undertaking after deducting the cost of
<br />operation and administration, including interest on the Utility Bonds mud the cost of insurance against the
<br />loss by injury to persons or property (if any), shall be set aside mnnual}y and covered into a sinking fmnd to
<br />pay as they mature all bonds issued under the aforesaid ordinance'."
<br />
<br />- ~FINiSHED BUSINESS -
<br />
<br />.69-350 - The following ordinance, approved on first reading at last meeting, was taken up mhd read:
<br />
<br />"kS ORDINF34CE TO gl~PROPRIATE $3,474.96 FROM THE GENERAL FO2~D AS ~IE CITY'S
<br />ADDITIONAL CONTRIBUTION TO THE SOBTHEASTERN VIRGINIA PLANNING DISTRICT. CO~4J,4!SSION.''
<br />
<br />On motion of Mr. Eastes,sthe ordinance was adopted, and by the following vote:
<br />
<br /> Ayes: Barnes, Eastes, Holley, Johnson, King, Smith, Tum~er
<br /> Nays: None
<br />
<br />69-351 - The following ordinance, approved on first reading at last meeting, was taken up and read:
<br />
<br />"7¢~ ORDINFiqCE TO APPROPRIATE $3,579.45 FROM THE GENERAL FUND FOP. THE PURCHASE
<br />OF CITY CODE SUPPLEb~NrFS.',
<br />
<br />On motion of Mr. Smith, the ordinance Was adopted and by the following vote:
<br />
<br /> Ayes: Barnes, Eastes, Nolley, Johnson, King, Smith, Turner
<br /> Nays: None
<br />
<br />
<br />
|