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~4ay 28, 1968
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<br />Pull power and authority is hereby given the said City Manager to make sale of the said notes and in such
<br />manner, at such time and place, as the said City Manager may determine; provided, however, that the same shall
<br />not be sold upon a basis which will cost the City of Portsmouth interest' at the rate of more than six per
<br />centmm per annum, and that no sale shall be made without the Bpproval of the City Council.
<br />
<br /> SM~ION 2. The notes shall be negotiable, shall be dated as of June 17, 1968, shall be payable one year
<br />from date, and shall be in such denomination or denominations as the City Manager shall determine.
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<br /> SECTION 5. The notes shall be issued in bearer form with provision for registration as to principal and
<br />interest, Each note shall be payable as to both nrincipal and interest at the ~rincipal office of the original
<br />purchaser, or at such other nlaces as may be designated by the successful bidders. The said notes shall be
<br />manually signed by the Mayor-of the City of Portsmouth and sh~lTbb~si~ed by the facsimile signature of the
<br />City ~reasurer, with a facsimile of the seal of the City imprinted thereon, attested by the facsimile signature
<br />of the City Clerk, and shall be in substantially the following form, to-wit:
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<br />UNITED STATES OF AMERICA
<br />
<br />CO~O~VEALTH OF VIRGINIA
<br />
<br />CITY. OF PORTSMOUTH
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<br />BOND ANTICIPATION NOTE
<br />
<br />No.
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<br /> The City of Portsmouth, Virginia, for value receive~, acknowledges itself indebted and hereby promises
<br />~o pay to the bearer, or, if this note be registered, to the registered owner hereof, upon presentation and
<br />surrender hereof, the orincioal sum of Dollars
<br />($ ), together with the interest thereon from dat~ h'ereof at the ~ate of ~er centum~.
<br />p~r annum. Bot~' principal of and interest on thi~note are payable on June 17, 1969, upon surr~ this
<br />note, at the Drincipa! office of in any coin or
<br />currency which on said date is lekal tender for payment o~ public and private debts.
<br />
<br /> This note is issued pursuant to Chapter S of Title 1S.I of the Code of Virginia, 1950, as amended, and a
<br />Resolution adopted by the Council of the City of Portsmouth, Virginia, on May 28, 1968, underssaid Chapter.
<br />
<br />This note may be registered as to princinal and interest in accordance with the ~rovisions for registration
<br />transfer endorsed hereon.
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<br /> IN ~ITNESS WHEREOF, the City of Portsmouth has c~msed this note ~e be manually signed by the Mayor and to
<br />be signed by the facsimile signature of the City Treasurer of said City, and a facsimile of the seal of the
<br />City ~o be imorinted hereon, attested by the facsimile signature of the City Clerk, and this note to be dated
<br />June 17, 1968.
<br />
<br />(SEAL)
<br />
<br />Mayor of the City of Portsmouth, Vi'rginia
<br />
<br />City Treasurer
<br />
<br />City Clerk
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<br />PRBV~S~8MS F8R REGISTRATION
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<br /> This note may be registered as to princinal and interest on books kept by the City Auditor of the City
<br />of Portsmouth, Virginia, as Bond Registrar, or by such other Bond Registrar as may be legally appointed by the
<br />Council of the City of Portsmouth, Virginia, upon presentation hereof to such Bond Registrar. who shall make
<br />notation of such registration in the registration blank below, and this note may thereafter be transferred
<br />only upon an assignment duly executed by the registered owner or his attorney or legs] representative in snch
<br />form as shall be satisfactory to the Bond Registrar, such transfer to be made on such books and endorsed here-
<br />on by the Bond Registrar. Such transfer may beeto bearer, and thereby transferability by delivery shall be
<br />restored, but this note shall again be subject to successive registrations and transfers as before. The
<br />principal of and interest on this note, if registered, unless registered to bearer, shall be payable only to or
<br />upon the order of the registered owner or his legal representative.
<br />
<br />DATE OF NA~qE OF ~ SIGNATURE OF
<br />REGISTRATION REGISTERED O?~ER B~D ~S~RAR
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<br /> SECTION ~. $7,000,000 of the procee~ of said $8,000,000 Bond Anticipation Notes shall be used to pay the
<br />$7,000~O00 Bond Anticioation Notes dated December ].9, 1967 and maturing June 19, 1968, which Bond Anticipation
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