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DecemBer 17. 1~68
<br />
<br />UMITED STATE8 OF Aq~RICA
<br />STATE OF VIRGI~A
<br /> CI~f OF PORTSMOUTH
<br /> UTILITY BOND
<br />
<br />No. $5,000.O0
<br /> The City of Portsmouth, a munidipalcorporation of the State of Vi~gimla, hereby'acknowledges itself
<br />indebted for value received and promises to pay to the Rearer, or if thimRo~d Be-regzXste~ed, to the registered
<br />holder hereof, on the first day of March, 19 , the ~ of F~ve Thousand Dollars, and to pay interest there-
<br />on at the rate of per centum per annum payable semi-annually 0nthe first day of March and September
<br />in each year, after date, until, maturity, upon surrender of the annexed coupons as they severally become due,
<br />or if this bond be registered as to Both principal and interest to the registered holder hereof. Both principal
<br />and interest of this bond are payable ~n lawful currency of the United States of America, at The Chase Manhattar
<br />Bank (National Association}, New York, Ne~York.
<br />
<br /> This bond may be registered as to principal By the Bolder in his name on the books of the City Auditor
<br />and such registration shall be noted hereon, after which no valid transfer hereof shall be made, except upon
<br />said books, until after registered transfer to bearer. Such registration mhall not affect the negotiability
<br />of coupons which shall continue to pass by delivery. At the request of the holder, this bond will be registered
<br />as to both principal and interest and the ooupons detached and cancelled, and thereafter both princinal and
<br />interest will be payable to the registered holder. ~
<br />
<br /> This bond is one of a series aggregating One Million Dollars, and is issued for the nur~ose of making
<br />certain improvements, extensions and additions to the revenue producinM undertaking of th~ C~ty consisting of
<br />its water, sewer, and sewage disposal systems, under and pursuant to and in conformity with the Constitution
<br />and Statu~es of the State of Virginia, including Chapter S of Title 1S.1 of the Code of Virginia, 19S0, of the
<br />Claarter of the City of Portsmouth and an election of the qualified voters of the City held on the fifth day of
<br />November, 1958, and pursuant to an ordinance duly adopted by the Council of the City of Portsmouth on the
<br />eighth day of October, 1968, and a resolution adopted on the se~enteg~th day of December, 1968, under said
<br />Chapter S.
<br />
<br /> It is hereby certified and recited that all acts, eonditions and things required by the Constitution and
<br />Statutes of the State of Virginia, to exist, to have happened, and to Be performed precedent to and in the
<br />issuance of this bond, exist, have happened and Have been performed in due time, form and manner as required by
<br />law, and that the issue of bonds of wkich this is one, together with all other indebtedness of the City, is
<br />within the othem~ise authorized indebtedness of said City, and is within every debt,and other limit prescribed
<br />by t~ Constitution and laws of the State of Virginia.
<br />
<br /> The full faith and credit of the City of Portsmouth are hereby irrevocably pledged for the payment of the
<br />principal and interest of this bond, and the net revenue of the revenue producing undertaking of the City is
<br />hereby irrevocably pledged to the payment of the principal and interest of thi~ bond, and the fees, rents and
<br />charges for the use of said undertaking shall be maintained at a level which will nroduce net revenue sufficient
<br />for the payment of the principal and interest and for any reserve fund deemed nece~sary for the efficient
<br />administration of the revenue producing nndertaking, and for the protection of the holder of this bond and the
<br />other bonds issued pursuant to said ordinance. This bond is ndt subject to taxation bM the City of Portsmouth
<br />and the coupons hereto attached shall, at and after maturity, be received in payment of all dues, taxes and
<br />assessments due to the City.
<br />
<br /> I~ W~dBSg ~IEREOM, the City of Portsmouth has chased this bond to be manually signed by the Mayor and to
<br />signed by the facsimile aignature of the City Treasurer of said City, and a facsimile of the seal of the City
<br />to be imprinted hereon, attested by the facsimile signature of the City Clemk, and the coupons hereto attached
<br />to be authenticated by the facsimile signature of the City Treasurer and this bond to be dated March 1, 1969.
<br />
<br />(SnAL)
<br />
<br />Mayor of tBe City of Portsmouth, Virginia
<br />
<br />Attest:
<br />
<br />'City Trea§urer
<br />
<br />City Clerk
<br />
<br />CFOPJ4 OF COUPON)
<br />
<br />NO,
<br />
<br /> The City of ~ortsmouth, a municipal corporation of the State of Virginia, will pay to bearer on the first
<br />day of , 19 , the sum of in lawful currency
<br />of the United States of America, at The ~xase ~4anhattan Mank {National Association), New York, New York, being
<br />six months' interest then due on its Water gond dated March 1, 1969.
<br />
<br />MOo
<br />
<br />City Treasurer
<br />
<br />
<br />
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