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(FORM OF COUPON)
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<br />NO. $
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<br /> The City of Portsmouth, a municipal corporation of the State of Virginia, will pay to bearer on the first
<br />day of , lB , the sum of in lawful
<br />currency of the United S~ates o~ca at The Chase Manhattan Rank [National As~'clat~on)"~' ~e~" 'York, New
<br />York, being six months~ interest then due on its General Obligation ~ond dated March 1, 1969.
<br />
<br />No,
<br />
<br />City Treasurer
<br />
<br />(FO~q OF R~GISTRATION)
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<br /> I hereby certify that at the request of the holder of the within bond for its conversion into a bond
<br />registered as to both principal and interest, I have this date cut off and destroyed coupons attached hereto
<br />numbered from to , inclusive, of the amount of each, amounting in aggregate to
<br />.... Dollars [$ ) and that the within~bnnd is hereby converte--~-~n.
<br />to'a registered bond with tP/e prlnc£pat and semiannual interest thereof payable to ,
<br />assignee, or legal representative. Dated at Portsmouth, Virginia, this day of , 19 .
<br />
<br />DATE OF R~GISTRATION
<br />
<br />NA~IE OF REGISTERED HOLDER
<br />
<br />City Auditor
<br />
<br /> REGISTERED BY
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<br /> Section 2. Full power and authority is hereby given the City Manager of the City of Portsmouth to pre-
<br />~are and issue the said bonds in such form and for such sum as authorized by the preceding section. The said
<br />City Manager is authorized to cause to be printed on the back of each of said bonds a copy of the complete
<br />final legal opinion with ~espect to said bonds, with the name of the attorney or attorneys rendering same,
<br />together with a certification of the City Clerk, evidenced by the facsimile signature of that officer, to the
<br />effect that the copy is a true and correct copy of the legal opinion which was dated as of the date of deliver
<br />and payment of the bonds. Full power and authority is hereby given the said City ~anager to make sale of the
<br />said bonds, and in such manner, at such t~me and place as the said City Manager may determine; provided, how-
<br />ever, that the same shall not be sold upon a basis which will cost the City of Portsmouth interest at the rate
<br />of more than six per centum per nnn~m, and that no sale shall be made without the approval of the City Council
<br />The said bends shall be subject to no taxation by the City of Portsmouth, and the said coupons shall be re-
<br />ceived in payment of all dues, taxes and assessments due to the said City.
<br />
<br /> Section $. There is hereby directed to be annually levied and collected a tax upon all taxable property
<br />within the City, sufficient to pay principal and interest on said bonds as same respectively mature."
<br />
<br />69-9 - "I submit the attached resolution and_zecomme~d_itm adoption. This mmends tb~ mm~urity schedule on the
<br />$1,600,000 of Water Bonds that have been authorized. The original resolution establishing a maturity schedule
<br />set gu annual payment of $64,000. These bonds, however, are issued in $5,000.00 denomination; therefore, it is
<br />necessary to amend this schedule.
<br />
<br /> The amended schedule will re,ire the bonds in t~ amoant of $65,000 annually fora twenty year period and
<br />$60,000 fmnually for five years."
<br />
<br />On motion of Mr. Smith, the following resolution wa~ adopted, without dissenting vote:
<br />
<br />!aA RESOLUTION AMENDING ~ MATURITY SCHEDULE FOR TL~ ONE MILLION SIX HUNDRED TF~)USAND DOLLJ~RS OF WATER
<br />BONDS AUTHORIZED TO ~E ISSUED BY A CERTAIN RESOLUTION ADOPTED DECES{BER 17, 1968
<br />
<br /> WHEREAS, by resolution adopted December 17, 1968, the Council of the City of Portsmouth, Virginia,
<br />.authorized the issuance of One Million Six Hundred T~ousand Dollars of Water Bonds; and
<br />
<br /> ~'~HEREAS, the maturity schedule set forth in the aforasaid resolution is mathematically impossible to carry
<br />out; and
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<br />%*~RE~AS, it is therefore necessary to revise the said maturity schedule.
<br />
<br /> NOW, THEREFORE, be it resolved by the Council of the City of Portsmoath, Virginia, that Section 1 of that
<br />certaiu resolution entitled, ~A RESOLIfrION TO AUTI{ORIZE T~ ISSUANCE OF ON~ MILLION SIX HUNDRED THOUSAND
<br />DOLLARS OF BONDS TO BE ~NOWN AS WATER BONDS, FOR T}~ PURPOSE OF MAKING IMPROVEMENTS, EXTENSIONS AND ADDITIONS'
<br />TO THE SYSTEM OF WATER WORKS OF ~{E CITY, PURSUANT TO SECTION 127, CLAUDE (B), OF THE CONSTITUTION OF VIRGINIA
<br />AND CHAPTER 5 OF TITLE 15.1 OF T~ CODE OF VIRGINIA, 1950, ~ND UNDER AUTHORITY OF THE VOTE OF THE QUALIFIED
<br />VOTERS OF ~ CITY OF PORTSMOUTH AND AN ELECTION ~LD ON ~ SEVENTH DAY OF NOVEMBER, 1961, AND MAKING PRO-
<br />VISION FOR T}~ FORM OF SAID BONDS AND FOR TM~ ~A~,flSNT THEREOF," adopted December 17, 1968, be amended to read
<br />as follows:
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<br /> ~ Section 1. Pursuant to Section One Mundred and Twenty-seven, clause Co), of the Constitut~n~ of Virginia
<br />and Chapter 5 of Title 15.1 of the Code of Virginia, 1950, and under and by virtue of a majority of the votes
<br />cast "For Bond Issue", at an election of the qualified voters of the City of Por~smout~held on th~ sevealth
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