Minutes 01/30/1996 - Laserfiche WebLink

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36:3 The full faith and credit of the City are hereby irrevocably pledged for the punctual payment of the principal of and interest on this Bond as 5he same respectively become due and payable. In each year while this Bond is outstanding and unpaid there shall be assessed, levied and collected, at the same time and in the same manner as other taxes in the City are assessed, levied and collected, an ad valorem tax upon all propersy subjec5 5o taxation by the City, without limitation as to rate or amouns, sufficient 5o provide for the payment of the principal of and interes5 on 5his Bond as the same respectively become due and payable, if and ~o the ex~en5 the revenues of 5he aforesaid waser and sewerage system are insufficien5 for that purpose. This Bond shall no5 be valid or obligatory unless the cersificase of authentication hereon shall have been manually signed by or on behalf of the Registrar. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, 5o exist or to be performed precedent co and in the issuance of this Bond exist have happened, do exist and have been performed in due 5ime, form and manner as required by law, and that the amount of this Bond, 5ogether with all other indebted~%ess of the City, does not exceed any limitation of indebtedness prescribed by the Constitution or statutes of the Commonwealth of Virginia or the Charter of the City. IN WITNESS WHEREOF, the City has caused this Bond to b~ executed by the manual or facsimile signasures of its Mayorvan~ Depusy City Manager for Finance; an impression of the corporase seal of the City or a facsimile thereof to be affixed hereEo or imprinted hereon, attested by the manual or facsimile signature of the City Clerk of the City; and this Bond to be dated January i, 1996. [SEAn] CITY OF PORTSMOUTH, VIRGINIA Mayor Attest: City Clerk DepuEy City Manager for Finance