Minutes 01/30/1996 - Laserfiche WebLink

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85]' [FORM OF GENERAL OBLIGATION PUBLIC IMPROVEF~ENT BOND, SERIES 1996] UNITED STATES OF AMERICA COM/~ONWEALTH OF VIRGINIA CITY OF PORTSMOUTH GENERAL OBLIGATION PUBLIC IMPROVEMENT BOND SERIES 1996 REGISTERED REGISTERED No. PIR-__ $ INTEREST MATURITY DATE OF RATE : DATE : BOND : CUSIP: % AUGUST 1, JANUARY 1, 1996 REGISTERED OWNER: pRINCIPAL SUM: CEDE & CO. 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 payment of the redemption price duly made or provided for, the Principal Sum (specified above) and to pay interest on such Principal Sum until payment of such Principal Sum in full, at the Interest Rate (specified above) per annum, on August 1, 1996 and semiannually on each February 1st and August 1st thereafter (each such date is hereinafter referred to as an "interest payment date"), from the date hereof or from the interest payment date next preceding the date of authentication hereof to which interest 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 sixt. eenth (16th) day to the last day of the calendar month next 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 R~egistrar hereinafter mentioned to the Registered Owner in whoSe name this Bond is registered upon the books of registry kept by the Registrar, as of the close of business on the fifteenth (i5th) 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 the 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 $40,000,000.00 in principal amount and issued for the purpose of providing funds to pay the cost of various public improvement projects of and for the City, under and p~rsuant to and in full compliance with the constitution and statutes of the Commonwealth Df Virginia, including Chapter 5.1 of Title 15.1 of the Code of Virginia, 1950 (the same being the Public Finance Act ~f 1991), the Charter of the City, and proceedings of the Council of the City duly adopted and taken under such Chapter 5.1 and such Charter.