Minutes 06/30/1969 - Laserfiche WebLink

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June 30, 1969 This note is issued p~rrsuant to Chapter 5 of Title 1S.1 of the Code of Virginia, 1950, as amended, and a Resolution adopted by the Council of tke City of Portsmouth, Virginia, on June 50, 1969, under said Chapter, in anticipatibn of the issuance of a like-principal amount of general obligation bonds authorized to be issued by Ordinance No. 1968.87 adopted by said Council under said Chapter. on December 17,. 1968, and of the receipt of proceeds of sale Of ~uch bonds, lhe full faith and credit of the City of Portsmouth, Virginia, are pledged for the payment of the principal mud interest hereof. This note may be registered as: to principal mud interest in accordance with the provisions for registra- tion and transfer endorsed on the reverse hereof. IN WITNESS WHEREOF, the Council of the City of Portsmouth has caused this note to be signed by the City Treasurer or Deputy City Treasurer and the City Manager of said City and its corporate seal to be afl&xed hereto and attested by the City CleVer the Deputy City Cler~,and this note be dated July 2, 1969. ~ity Mamager ,City--of P~tsmouth, Virginia ATTEST: City 'Freas~rer,' City of Portsmouth, Virginia City Clerk, City of Portsmouth, Virginia PROVISIONS FOR REGISTRATION This note may he registered as to principal and interest on books to be kept by the City Auditor of of the City of Portsmouth, Virginia, as 8ond Registrar, or by such other Bond Registrar as may be legally appointed by the Council ~f the City- of Portsmouth, Virginia, upon presentation hereof to such Bond Registrar, who. shall make notation of such registration in the registration blank below, and this note may thereafter be transferred only upon an assignment duly executed by the registered owner or his att~ney or legal represen- tative in such form as shall be satisfactory to the Bond Registrar, such ~ranafer to be made on such books and endorsed hereon by the Bond Registrar. Such transfer may be to bearer, and thereby transferability by de- livery shall be restored, hut this note shall again be subject to successive registrations and transfers as before. The principal of and interest on this note, if registered, u~less registered to bearer, shall be pay- able only to or upon the order of the registered owner or his legal representative. DATE OF REGISTRATION NA~ OF REGISTRATION OWNER SIGNATUR~ OF BOND~REG£S~RAR Section 3. The action of the City Manager in soliciting oral tenders for such notes as bearer notes regist~able as to principal and interest, is hereby ratified, confirmed and approved. Said $2,500,000 notes shall be, and hereby are, sold to Rirst & Merchants National Bank, Richmond, Virginia, at par and accrued interest. Section 4. The said notes shall be issued to the aforesaid purchaser, and the City Manager is hereby authoriaed to complete the sale of thesaid notes and deliver the same to the said purchaser upon payment of the purchase price therefor. The proceeds of the sale of said notes ahll be applied to the same purposes for which the bonds authorized by Ordinance 1968-87 were authorized. Section 5. All previous resolutions of the City Council to the extent they are inconsistent herewith are hereby repealed. On motion adjourned. APPROVED - City Clerk