Minutes 01/14/1969 - Laserfiche WebLink

Home Browse Search

3anua~ 14. day of November, 1961, ln~.,order to mal~e~ certai~ i~p~eve~ent~ e ~' ext .nszens amd additions to the system of water works of the City, the Cit% of Portsmouth s{iall tmrro~.: tI~e s~m of One M~lli~n Six [{u~dred Thousand Dollars [$1,600,000), and there shall be issued One r!Clli~'n ~'~x l~ndred Tlteumand Dollars of bonds of said city to be known as ~ater Bonds, consisting of tl~ree Hundred and twenty' bendm of the denomi~aation of Five Thousand Dollars each, n~nber t to $20, b~h inclusive, d~ted Marc~ 1, 1~6~; the proceeds arising from the sale of said bonds to be applied to the payment of the cost of maRing certain improvements, extensions and additions to the water work system of the City and to no other purpose. The sa~d Bonds shall Bear f~terest from their date paYable semi- annually March 1 and September 1, of each year, at suc~ rate or at such different or varying rates, not to ex- ceedlsix per centum per annum on any bond, as maF ~e fixed by' the City Council prior to their execution. Both ~_mincipal and interest of said bonds shall be payaHle ~ lawful currency of the United States of America, at The Chase Manhattan Bank {National Association~, New York, N~ew Yetis. The said bonds shall not be redeemable by the City of Portsmouth and shall mature serially, in numerical order, as follows: $6O $6O $6O $60 $60 $65,000 of said bonds shall be payable on Marc~ 1, 1970 $65,000 of said bonds shall be $65,000 of said.bonds shall be $65,000 of said bonds shall be 565,000 of said bonds shall be $65,000 of said bonds shall be $65,000 of said bonds shall be $65,000 of said bonds shall be $65 000 of said bonds shall be $65 000 of said bonds shall be $65 000 of said bonds shall be $65 000 of said bonds shall be $65 000 of said bonds shall be $65 000 of said bonds shall be $65,000 of said bonds shall be $65,000 of said bonds shall be $65,000 of said bonds shall be $65,000 of said bends shall be $65,000 of said bonds shall be $65 000 of said bonds shall be 000 of said bonds shall be 000 of said bonds shall be 000 of said bonds shall be 000 of said bonds shall be 000 of said bonds shall be payable on March 1, 1971 payable on March 1, 1992 payable on garch 1, 1975 payable on Marc~ 1, 1974 payable on March 1, 1975 payable on March 1, 1976 payable on March 1, 1977 payable on March 1, 1978 payable on March 1, 1979 payable on March I, 1980 payable on March 1, 1981 payable on March 1, 1982 payable on March 1, 1985 payable on March 1, 1984 payable on !arch 1, 1985 payable on watch 1, 1986 payable on March 1, 1987 payable on March 1, 1988 payable on March 1, 1989 payable on March 1, 1990 payable on March 1, 1991 payable on March 1, 1992 payable on March 1, 1993 payable on March 1, 1994 The said bonds shall be manually signed by the Mayor of the City of Portsmouth and shall be signed by the facsimile signature of the City Treasurer, with a facsimile of the seal of the City imorinted thereon, attested by the facsimile signature of the City Clerk, and the coupons shall be signed by the ~acsimile signature of the City Treasurer. The bonds and coupons shall be substantially in the following form, to-wit: UNITED STATES OF AMERICA STATB OF VIRGINIA CITY OF PORTSMOUTH WATER BOND Ss,ooo.do, The City of Portsmouth, a municipal co~moration of the State of Virginia, hereby acknowledges itself in- debted for value received and promises to pay to t~e bearer, or if this bond be registered, to the registered holder hereof, on ~the first day of March, 19 , the sum or. Five Thousand Dollars, andre pay interest thereon at the rateof per centum per annum payable semi-ann~lly on the first day of March and September in each 'year~ after date, until maturity, ~pon surrender of the annexed coupons as they $~everally become due, or if this bond be registered as to both principal and interest, to ~he~registered Bolder hereof. Both principal and interest ef this bond are payable in lawful currency of the United States of America, a The Chase Manhattan Bank (National Association), New York, New YorR.