Minutes 04/29/1969 - Laserfiche WebLink

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Aoril 29. !969 This note is issued nursuant to Chapter 5 of '+~ of ~ Tl~-.e 15.1 the Code of Virginia, 1950, as ~mended, and a Resolution adopted by the Council of the~City of Portsmouth, V ~ ~g~mla, on April 29, 19~9, under said Chanter, in anticipatiOn of the issuance of a like princioal ~ ~ · ~ amoun~ o.~ 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 receint of Proceeds~ of sale of such bonds. The full faith and credit of the City of Portsmouth, Virginia, are pl~doe~- = ~ for the payment of the principal and interest hereof. This note may be registered as to principal and interest in accordance with the provisions for registration and transfer endorsed on the reverse hereof. - IN i~ITNESS ~IEREOF, the Council of the City of Portsmouth has caused this note to be signed by the Mayor of said City and its corporate seal to Be affixed hereto and attested by the City Clerk and countersigned by the City Attorney~ and this note to be dated May 1, 1969. ATTEST:: Mayor, City of Portsmouth, Virginia City Clerk, City of Portsmouth, Virginia Countersigned: City Attorney, City of Portsmouth, Virginia PROVISIONS FOR REGISTP~4TION This note may be registered as to principal and interest on books to be kept by the City Auditor of the City of Portsmouth, Virginia, as Bond Registrar, or by such other Bond Registrar as may be legally appointed by the Council of the City ofPortsmoutn,~ 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 transfe_~red only upon an assigrmlent duly executed by the the registered owner or his attorney or legal representative in such form as shall be satisfactory to the Bond Registrar~ such transfer to be made on such books and endorsed her~on by the Bond Registrar. Such t~ansfer may be to bearer, and thereby transferability by delivery shall be restored, but this note shall again be subject to successive registrations and transfers as before. The principal of and interest on this note, if registered, unless registered to bearer~ shall be payable only to or upon the order of the registered owner or his legal representative. DATE OF NNv~ QF= ST~ATUP~o,~_~.~ OF RE___GISTRATION ~EGISTERED OLfN~R BOND REGISTRAR SECTION S. The action of the City Manager in soliciting oral tenders for such notes as bearer notes regist~mable as to principal and interest, is hereby ratified, o~nfirmed and approved. Said $3,000,000 notes shall be, and hemeby are, sold to The Chase~,,.anhautan' Bank, National Association, New York, New York, at oar and accrued interest. SECTION 4. The said notes shall be issued to the aforesaid ourchaser~ and the City Manager is hereby authorized to complete the sale of the said notes and deliver the~ s~me to the said ourchaser upon payment of the purchase price therefor. The proceeds~%o~ft~esal~ of said notes shall be applied to the same purposes for which the bonds authorized by Ordinance 1968~87 were autnor_zed.~ ~ SECTION S. Alt previous, resolutions of the City Council to the extent they are ~nconszsuent' ' ~ herewith are hereby repealed. On motion adjourned. APP RO¥]{D - ent City Clerk