|
January 14'/-1992
<br />
<br />payment of the redemption price duty made or provided for, the Prinr-ilml Sum (specified
<br />~hove) and to pay interest on such Princ/pal Sum until payment of such Principal Sum in
<br />fall, at the Interest Rate (specified above) per annum on. , and
<br />
<br />semim~mmlly on each and thereafter ~each such date is
<br />hereinafter referred to as an "interest payment date"), fi'om the date hereof or from the
<br />interest payment date next preceding their date of authentication hereof to which interest
<br />shall have been paid. unless such date of authentication is an interest payment date. in which
<br />case from such interest payment date if interest shall have been paid to such date. or unless
<br />such date of authentication is within the period from the sixteenth (16th) da~ to the last day
<br />of the calendar month next preceding the following interest payment date, in which case
<br />from such following interest payment date. Such interest is payable by check or draft mailed
<br />by the Registrar hereinafter mentioned to the Registered Owner hereof at his address as it
<br />appears on such books of registry kept by the Registrar as of the close of business on the
<br />fifteenth (15th) day (whether or not a business day) of the calendar month next preceding
<br />each interest payment date.
<br />
<br /> The principal of and premium, if any, on this Bond are payable on
<br />presentation and surrender hereof at the principal office of , as
<br />Registrar. in the , __. The principal of and premium, if any, and
<br />interest on this Bond are payable in such coin or currency of the United States of America
<br />as at the respecuve dates of payment is legal tender for public and private debts.
<br />
<br /> This Bond ii iane of an issue of Bonds aggregating Seven Million Six Hundred
<br />Fifteen Thousand Dollars ($7,615,000) in pnncipal amount and issued for the purpose of
<br />provk~ing funds to pay the costs of capital improvements, extensions and additions To the
<br />revenue-producing water and sewerage system of the City, under and pursuant to and in full
<br />compliance with the Constitution and rratutes of the Commonwealth of Virginia. including
<br />Article VIL Section 10(a)(2), of the Constitution of Virginia, Chapter 5.1 of Title 15.1 of Ihe
<br />Code of Virginia, 1950 (the same being the Public Finance Act of 1991), and the Charter
<br />of the City, proceedings of the Council of the City duly adopted and take~ under such
<br />Chapter 5.1 and such Charter. and an election of the qualified voters of the City duly held
<br />pursuant to such Chapter 5.1 on November 6, 1990.
<br />
<br /> The Bonds of the series of which this Bond is one (or portions of the principal
<br />amount thereof in ir~tailments of $5,000) maturing on and after are
<br />subject to redemption at the option of the City prior to their stated ma{urines on or after
<br /> , in whole at any time or in part on any interest payment date in
<br />such order as shall be determined by the City (except that if at any time less than all of
<br />Bonds of a given maturit~ are called for redemption, the particular Bonds of such maturity
<br />to be redeemed shall be selected By lot), upon payment of the principal amount of the
<br />Bongs (or portlons of the principal amoum thereof in installments of $5,000] to be
<br />re'icemen, together with the interest accrued thereon to the date fixed ~ar redemption, plus
<br />a preminm of [INSERT REDEMPTION PREMIUMS].
<br />
<br /> [f this Bond is redeemable and this Bond rot any portion of the principal
<br />amount hereof) shall be called for redemption, notice of the redemption hereof, specifying
<br />the date, number and mammy of this Bond, the date and place or places fixed for its
<br />redemption, the premium, if any, payable upon such redemption, and if less than the eatke
<br />principal amount of this Bond is to be redeemed, that this Bond must be surrendered in
<br />exchange for the principal amount hereof to be redeemed and a new Bond or Bonds issued
<br />equalling in principal amoum that portion of the principal amoum hereof not to be
<br />redeemect, shall be mailed not less than thirty. (30) days prior to the date fixed for
<br />redemption by first class mail. postage prepaid, to the Registered Owner hereof at his
<br />address as it appears on the books of registry kept by the Registrar as of the close of
<br />business on the forty-fifth (45th) day next preceding the date fixed for redemption. If notice
<br />o~ the redemption of this Bond (or of the portion of the principal amount hereof to be
<br />redeamed~ shall have been g~ven as aforesaid, and payment of the principal amount of this
<br />Bond (or the portion of the principal amount hereof to be redeemed/ and of the accrued
<br />interest and premium, if any, payable upon such redemption shall have been duly made or
<br />provided for. interest on this Bond (or on the portion of the principal amount hereof to be
<br />redeemed) shall cease to accrue from and after the date so specified for the redemption
<br />hereof.
<br />
<br /> Subject to the limitations and upon payment of the charges, if any, provided
<br />in the proceedings autho~ri.zing the Bonds of the issue of which this Bond is one. this Bond
<br />may be exchanged at the .principal office of the Registrar for a like aggregate principal
<br />amount of Bonds of othe~ authorized principal amounts and of the same series which this
<br />Bond is one. This Bond is transferable by the Registered Owner hereof, in person or by his
<br />attorney duly authorized in writing, on the books of registry kept by the Registrar for suc;~
<br />purpose at the principal office of the Registrar but only in the manner, subject to the
<br />limitations and upon payment of the charges, if any, provided in the proceedings authorizing
<br />the Bonds of the series of which this Bond is one. and upon the surrender hereof for
<br />cancellation. Upon such transfer a new Bond or Bonds of authorized denominations and
<br />of the same aggregate principal amount, series, interest rare and maturity as the Bond
<br />s-arrenderec[, will be issued to the transferee in exchange herefor.
<br />
<br /> The full faith and credit of the City are hereby irrevocably pledged for the
<br />.punctual payment of the principal of and interest on this Bond as the same respectively
<br />become due and payable. In each year while this Bond is outstanding and unpaid there shall
<br />be assessed, levied and collected, at the same time and in the same manner as other taxes
<br />in the City are assesseu, levied and cotlectee, an ad valorem mx upon all property sublect
<br />to taxation by the City, without limitation as to rate or amount_ sufficient to provide for the
<br />[~ayment of the principal of and interest on this Bond as the same respectively become due
<br />and payable, if the revenues of the aforesaid water and sewerage system are insufficient for
<br />thai purpose.
<br />
<br /> This Bond shall not be valid or obligatory unless the certificate of
<br />authentication hereon sha}l have been manually signed by or on behalf of the Registrar.
<br />
<br />221
<br />
<br />
<br />
|