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Decemba~ ~7. 1~8
<br />
<br />UNITED STATBS OF A~R~A
<br />STATE OF V~RGINIA
<br /> CITY OF PORT~'4OIB~
<br /> WATER BOND
<br />
<br />No.
<br />
<br />The City of Portsmouth, a municipal corporation of the State of Virginia, hereby acknowledges itself in-
<br />debted for value received and promises to pay to the bearer, or ~f this bond be registered, to the registered
<br />Holder hereof, on the first day of March, 19 , the sum of Five Thousand Dollars, and to pay interest there.
<br />on at the rate of per centum per annum payab~ sem~gannually on the first day of March and September
<br />in each year, afte~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
<br />principal and interest of this bond are payable in lawful currency of the United States of America, at The
<br />Chase Manhattan Bank (Mational Association), New York, New York.
<br />
<br /> This bond may be registered as to principal by the bolder in bis 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 shall not affect the negotiability
<br />of coupons which shall continue to pass by delivery. At the request of the holder, this bond will be regis-
<br />tered ~s to both principal and interest and the coupons detached and cancelled, and thereafter both principal
<br />and interest will be payable to the registered holder.
<br />
<br /> This bond isone of a series aggregating One Million Six Hundred Thousand Dollars, and is issued for the
<br /> purpose of makingcertain improvements, extensions and additions to the water works system of the City, under
<br />. and pursuant t, oand in conformity with the Constitution and Statutes of the State of Virginia, includLng
<br /> Chapter 5 of Title 15.1 of the Code of Virginia, 19S0, the Charter of the City of Portsmouth and an election
<br /> of the qualified voters of t~/~ City held on the sevent~ day of November, 1961, and pursuant to an ordinance
<br /> duly adopted by the Council of the City of Portsmout~ on the seventeenth da), of October, 1961, and a
<br /> resolution duly adopted by the Council of the City of Portsmouth on the seventeenth day of December, 1968~
<br /> under said Chapter 5.
<br />
<br /> It is hereby certified and recited that all acts, conditions and things required by the Constitution
<br />and Statutes of the State of Virginia, to exist, to have happened~ and to be performed precedent to and in
<br />tBe issuance of this bond, ex,st, have happened m~d Bare been performed in due time~ form and manner as
<br />required by law, and that the issue of bonds of which this is one, together with all other indebtedness of
<br />the City~ is ~i~ the otherwise authorized indebtedness of said City, and is within every debt and other
<br />limit prescribed by ~he Constitution and laws of the State of Virginia.
<br />
<br /> The full faith and credit of the City of Portsmout5 are hereby irrevocably pledged for the payment of the
<br />principal and interest of this bond, and the net revenue of the water works system of the City is hereby
<br />irrevocably pledged to the payment of the principal and interest e~ this bond, and the fees, rents and charges
<br />for the use of said system shall be maintained at a level which will produce net revenue sufficient for the
<br />payment of the principal and interest and for any reserve fund deemed necessary for the efficient administra~
<br />tion of the system of water works, and for the protection of the holder of this bond and the other bonds is-
<br />sued pursuant to said ordinance. This bond is not subject to taxation by the City of Portsmouth and the
<br />coupons ~ereto attached shall, at and after maturit~ be received in payment of all dues, taxes and assess-
<br />ments due to the City.
<br />
<br /> IN WITNESS WHHR~OF, the City of Portsmouth--bas caused this bond to be manually signed by the Mayor mud
<br />to be signed by the facsimile signature of the City ~th~easurer of said City, $~d a ~acsimile of the seal of
<br />the City to be imprinted hereon, attested by the facsimile signature of the City Clerk, and the coupons here-
<br />to attached to be authenticated by the facsimile signature of the City Treasurer and this bond to be dated
<br />March 1, 1969.
<br />
<br />Mayor Of t~he City of Portsmouth, Vlrg~nla
<br />
<br />Attest:
<br />
<br />City TreasUrer'
<br />
<br />City Clerk
<br />
<br />(FORM OF COUPON)
<br />
<br />No. $
<br />
<br /> The City of Portsmouth, armanid%p~.l corporation of the State of Virginia, ~ill pay to bearer on the first
<br />day of , , 19 , ~ie sum of in lawful currency of the
<br />~ited States of America, at T~-~ase Manhattan Bank, (National Association), New York, New York, beingsix
<br />months' interest then due on its Water Bond dated March 1, 1969.
<br />
<br />No.
<br />
<br />City Treasurer
<br />
<br />
<br />
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