Minutes 01/30/1996 - Laserfiche WebLink

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[FORM OF GENEPuAL OBLIGATION PUBLIC UTILITY BOND, SERIES 1996~ IINITED STATES OF AMERICA COM/~ONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION PUBLIC UTILITY BOND SERIES 1996 REGISTERED No. PUR- REGISTERED INTEREST MATURITY RATE: DATE: % August 1, REGISTERED OWNER: CEDE & CO. PRINCIPAL SUM: DATE OF BOND: CUSIP: January 1, 1996 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 Bond shall have been duly called for previous redemption and paymenn of the redemption prlce duly made or provided for, the Principal Sum (specified above~ and to pay interest on such Principal Sum until payment o~ such Principal Sum in full, an the Interest Rate (specified above~ per annum on, August 1, 1996 and semiannually on each February ls~ and August 1st thereafter (each such date is hereinafter referred to as an "interest payment date"), from the date hereof or from the interest paymenn date next preceding 'the date of-~ authentication hereof to which interesm shall have been paid, unless such date of authentication is an interest payment date, in which case from such interest payment date if interest shall have been paid to such date, or unless such date of authentication is within the period from the s!×teenth (16th) day to the last day of the calendar month nexn preceding the following interest payment date, in which case from such following interest payment date. Such interest is payable by check or draft mailed by the Registrar hereinafter mentioned ~o the Registered Owner hereof at his address as it appears on such books of registry kept by the Registrar as of the close of business on the fifteenth (15th} day (whether or not a business day) of the calendar month next preceding each interest payment date. The principal of and premium, if any, on this Bond are payable on presentation and surrender hereof at the office of the Deputy City Manager for Finance of the City of Portsmouth, Virginia, as Registrar, in the City of Portsmouth, Virginia. The principal of and premium, if any, and interest on this Bond are payable in such coin or currency of uhe United States of America as at the respective dates of payment is legal tender for public and private debts. This Bond is one of an issue of Bonds aggregating $13,000,000.00 in principal amount and issued for the purpose of providing funds to pay the costs of capital improvements, exnensions and additions no the revenue-producing water a~d sewerage 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 lo(a) (2), of the Constitution of Virginia, Chapter 5.1 of Title 15.1 of the Code of Virginia, 1950 (the same being the Public Finance Act of 1991', and the Charter of the City, proceedings of the Council of the City duly adopted and taken under such Chapter 5.1 and such Charter, and an ~.lection of the qualified vo~ers of the City duly held pursuann no such Chapter 5.1 o~ November 8, 1994.