Minutes 08/11/1998 - Laserfiche WebLink

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August 41, 1998 connection with the issuance, sale and delivery of the Notes. The Mayor, the Deputy. City Manager for Finance and the City Clerk are authorized and directed to execute the Notes on behalf of the City by their manual or facsimile signatures (provided that at least one such signature is a manual signature) and to impress the Notes with the corporate seal of the City or cause a facsimile thereof to be affixed thereto. D. The City Attorney of the City shall be and hereby is directed to file a copy of this resolution, certified by the City Clerk of the City to be a true copy thereof, with the Circuit Court of the City, in accordance with Section 15.2-2607 of the Code of Virginia, 1950. E. This resolution shall take effect from the date of its adoption. EXHIBIT UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION PUBLIC UTILITY BOND ANTICIPATION NOTE REGISTERED REGISTERED No. R-1 $9,900,000 INTEREST MATURITY DATE OF RATE DATE NOTE 3.78% AUGUST 15, 1999 AUGUST 12, 1998 REGISTERED OWNER: CRESTAR SECURITIES CORPORATION PRINCIPAL SUM: NINE MILLION NINE HUNDRED THOUSAND DOLLARS The City of Portsmouth, a municipal corporation of the Commonwealth of Virginia (the "City"), for value received, acknowledges itself indebted and hereby promises to pay to the Registered Owner (named above), or registered assigns, on the Maturity Date (specified above) unless this Note shall have been duly called for previous redemption and payment of the redemption price duly made or provided for, the Principal Sum (specified above) and to pay interest on such Principal Sum payable at maturity, at ths Interest Rate (specified above) per annum, such interest to be calculated on the basis ol a 365-day year and the actual days between the date hereof and the stated maturit, hereof. The principal of and interest on this Note are payable on presentation an surrender hereof at the office of the Deputy City Manager for Finance of the City ol Portsmouth, Virginia, as Registrar, in the City of Portsmouth, Virginia. The principal ol and interest on this Note are payable in such coin or currency of the United States o~ America as at the respective dates of payment is legal tender for public and privat( debts. This Note is one of an issue of Notes aggregating Nine Million Nine Hundred Thousand Dollars ($9,900,000) in principal amount and issued for the purpose of providing funds to pay the cost of capital improvements, extensions and additions to the revenue-producing water and sewer system of the City, under and pursuant to and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, including Article VII, Section 10(a)(2) of the Constitution of Virginia, Chapter26 of Title 15.2 of the Code of Virginia, 1950 (the same being the Public Finance Act of 1991), and the Charter and Code of the City, an ordinance and other proceedings of the Council of the City duly adopted and taken under the Public Finance Act of 1991 and such Charter and Code and an election of the qualified voters of the City duly held pursuant to the Public Finance Act of 1991 on November 8, 1994. This Note is issued in anticipation of