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417 <br /> <br /> 12. Further-Actions. ~ Each member of the Council and all <br />other officers, employees 'a~ ~gents of the City are hereby <br />authorized to take such.action as they or any one of them may <br />consider necessary or desirable in connection with the issuance <br />and sale of the Bonds and any such action previously taken is <br />hereby ratified and confirmed. <br /> <br /> 13. Effective'Date; This~R-esolution shall <br />immediately~ <br /> <br />take effect <br /> <br /> The undersigned Clerk of th~ City Council of the City of <br />Portsmouth, Virginia, hereby certifies that the foregoing <br />constitutes a true and correct extract from hhe minutes of a <br />meeting of the City Council held on April 11, 1989, and of the <br />whole thereof so far as applicable to the matters referred to in <br />such extract. I hereby further certify that such meeting was a <br />regularly scheduled meeting and, during the consideration of the <br />foregoing resolution, a quorum was pre~ent. <br /> <br /> EXHIBIT A <br />(FORM OF BOND) <br /> <br />NO. R-1 <br /> <br />$243,915.41 <br /> <br />UNITED STATES OF AMERICA <br /> <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF PORTSMOUTH <br /> <br />Genera~ 1 Obligation School Bonds <br />Educational Technology Series <br /> <br /> The CITY OF PORTSMOUTH,-VI~G~NIA .(~he "City'~),.for value <br />received, hereby ackngwtedges-itself indebted and:promises to pay <br />to the VIRGINIA PUBLIC SCHO~ AUTHORITY~%he principal amount of <br /> DOLLARS, in installments, commencing <br />December 15, 1989, and semi-annually thereafter on June 15 and <br />December 15 of each year (each a "Principal Payment Date"), as <br />shown on Schedule 1 attached h~reto, together-with interest on th <br />unpaid installments at the annual rates set forth on Schedule I <br />attached hereto, from the date of this Bo~d -untii payment of the <br />principal sum hereof, such interest to be payable commencing on <br />December 15, 1989, and sem~rannually thereafter on June 15 and <br />December I5 of'each year (each an "Interest Payment Date", <br />togetherwcth any Principal Payment Date, a "Payment Date", as set <br />forth on Schedule 1 attached hereto. Both principal of and <br />interest ~o~ this Bond are payable in lawful money of the United <br />States of America. <br /> <br /> The Director of Finance of the. City shall make all payments <br />of principal of and interest on this Bond~ without the <br />presentation or surrender hereof, to the registered owner hereof, <br />in immediately available funds at or before-11:00 a.m. on the <br />applicable Payment Date. ~If a Payment Date is not a business day <br />for banks in the Commonwealth of Virginia or for the Commonwealth <br />of Virginia, then the payment of principal of or interest on this <br />Bond shall be made in immediately available funds at or before <br />11:00 a.m. on the business day preceding the scheduled Payment <br />Date. Upon receipt by the registered owner of this Bond of said <br />payments or principal and interest, written acknowledgment of the <br />receipt thereof shall' be given promptly to the Director of Financ~ <br />of the Cit~, and the C~ty shall be fully discharged of its <br />obligation on this'Bond to the extent of khe payment so. ma-del <br />Upon final payment, this Bond shall be surrendered to ~e-~Directoz <br />of Finance of the City for cancellation. .~ <br /> <br /> <br />