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Icx~
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<br />biarch z4r 1993
<br />
<br />Oq¢
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<br /> Any Bond may, in accordance with its tea-ms, be transferred upon the books of
<br />r~istry by the person in whose r~me it is registered, in person or by his duly anthor, zed agent,
<br />upon surrender of such Bond to the Registrar for cancellation, accompanied by a written
<br />instrument of transfer duly executed by the registered owner in person or his duly authorized
<br />a~ent, in form satisfactory to the Regisuar.
<br />
<br /> All transfers or exchanges of Bonds shall be made without expense to the
<br />~..tered owners of sneh Bonds, except as otherwise herein provided, and except that the
<br />Registrar shall requn'e the payment by the registered owner of a Bond requesting sneh transfer
<br />ar exchange of any tax or other governmental charges required to be paid with respect to such
<br />transfer or exchange. All Bonds surrendered for transfer or exchange shall be cancelled.
<br />
<br /> The Bonds shall be issued only in fully registered form without coupons. One
<br />Bond representing each maturity of each issue of the Bonds will be issued to and registered in
<br />the name of Cede & Co., as nominee of The Depositor~ Tmst Company, New York, New York
<br />('DTC'), as registered owner of the Bonds and each such Bond shall be ~mmobllized in the
<br />~stody of DTC. DTC will act as securities depository for the Bonds. Individualpurchases wffi
<br />ge made in beok-cut~y form only, in the principal amomat of $5,000 or any integral multiple
<br />thereof. Purchasers will not receive physical delivery of ee~a~ieates representing their interest
<br />in the Bonds purchased.
<br />
<br /> Principal, premium, if any, and interest pa .~nents on the Bonds will be made b~
<br />the Director of Finance of the City; as Registrar and Paying Agent for the Bonds, to DTC or
<br />
<br />iis nominee, Cede & Co., as registered owner of the BOnds, which wffi in mm remit such
<br />l~ayments to the DTC participants for subsequent dishursa~ to the beneficial owners of the Bonds.
<br />Transfers of ?tinclpal, premium, if any, and interest pay nents to DTC participants will be the
<br />r~sponsibilit3~ of DTC. Transfers of such payments to be .eficial owners of the Bonds by DTC
<br />participants v~ill be the responsibility of such participants nd other nominees of such beneficbl
<br />~wners. Transfers of ownership interests in the Bonds ill be accomplished by book entries
<br />marie by DTC and, in mm, by the DTC partieipant~, who act on behalf of the indirect
<br />participants of DTC and the beneficial owners of the BO! is.
<br />
<br /> The City will not be responsible or liable
<br />f0r maintaining, supervising or reviewing records malmair
<br />a~ting through such participants or for transmitting payme~
<br />o~ otherwise dealing with any beneficial owner of the Bon
<br />~e~atry only form, the D~rector of Fmanee of the City will
<br />f~r the Bonds The City reserves the tight to designate a
<br />~or the Bonds if the Bonds at any tane cease to be in hoc
<br />
<br /> So long as the Bonds are in book-entry
<br />.be given only to DTC or its nominee. The City shall
<br />b~neficial owner of the Bonds any notice of redemption.
<br />
<br /> 3. The full faith and credit of the Cit
<br />p~edged to the payment of the principal of and interest~o!
<br />Ia each year while the Bonds, or any of them, are ou
<br /> sessed, levied and collected, at the same time and in ti
<br /> ty are assessed, levied and collected, upon all property
<br /> ~. City, ad Palorem taxes, without limitation of rate or
<br /> anent of*lie principal of and interest on the Bonds as t
<br /> the aforesaid undertaking consisting of the water and se~
<br /> obligations herein set forth.
<br />
<br /> 4 The Bonds shall not be included in
<br /> ver of the ~ity to incur indebtedness under the provisk
<br /> restitution o ~ Virginia, but from and after November 6,
<br /> r's water nad sewerage system falis to produee suf
<br /> ration and admlnlstration (including interest on bends i
<br /> nst loss o~ injuries to persons and property, and an anm
<br /> ~d sufficien to pay at or before maturity all bonds (inc
<br /> f such syst~ m, all such bends (including the Bonds'
<br /> etermlnlng e lim~tation upon the power of the City to
<br />
<br />1~ 5. The City covenants and agrees to
<br /> uo and 141-150 of the Internal Revenue Code of
<br />p~i~omulgated aereender throughout the term of the Bond..
<br />
<br /> 6. The Bonds shall be sold in conju~
<br /> >ligation Pt )lic Improvement Refunding Bonds, Seties
<br /> the Counc . at the meeting at which this resolution is
<br />
<br />:sfirdie si:
<br />~rate sea]
<br />he City Cie
<br />
<br />7. The Bonds shall be executed, for
<br />tures of the Mayor and the Director of Finm
<br />>f the City shall be imprinted on the Bonds
<br />:k of the City.
<br />
<br />or sending transaction statements or
<br />d by DTC, its participants or persons
<br />s to, communicating with, notifying,
<br />s. Solong as the Bonds are in book-
<br />~erve as Registrar and Paying Agent
<br />aceessor Registrar and Paying Agent
<br />:-entry only form7 -'
<br />
<br />form/~any notice of redemption will
<br />~t be restxmsible .for providing any
<br />
<br />shall be and hereby is irrevocably
<br />the Bonds as the same become due.
<br />mding and unpaid, there shall be
<br />e same manner as other taxes in the
<br />~ithin the City subject to taxation by
<br />mount, sufficient to provide for the
<br />e same become due, if the revenues
<br />erage system are insufficient to meet
<br />
<br />letermining the limitation upon the
<br />~s of Article VII, Section 10, Of the
<br />195, whenever and for so long as the
<br />cient revenues to pay the cost of
<br />~ed therefor), the cost of insurance
<br />d amount to be placed intoa ~nking
<br />~ding the Bonds).jssued on account
<br />outstanding shall be included in
<br />cur indebtedness.
<br />
<br />nply with the provisions of Section
<br />~86 and the Treasury Regulations
<br />
<br />:tion with the sale of the General
<br />~93, of the City authorized for sale
<br />ing adopted.
<br />
<br />nd on behalf of the City, by the
<br /> of the City, and a facsimile of the
<br /> attested by the facsimile sigu~
<br />
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