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268
<br />
<br />April 14, 1987
<br />
<br /> The principal of ar~ premium, if any, and interest
<br />on this Bond are payable in such coin or currency of the
<br />United States of america as at the respective dates of
<br />'lYayment is. legal tender for public and private debts.
<br />
<br /> This Bond is one of an issue of Bonds aggregating
<br /> Dollars ($ )
<br />in principal ~oun~ and issued for the purpose of providing
<br />funds to refund in advance of their stated maturities and
<br />redeem certain outstanding port improvement bonds heretofore
<br />issued by the City (such bonds having been issued by the
<br />City for the purpose of acquiring certain port improvements
<br />and to construct certain additional port improvements, which
<br />port improvements constitute a revenue-producing undertaking
<br />of the City), under and pursuant to and in full compliance
<br />with the Constitution and statutes of the Commonwealth of
<br />Virginia, including Chapter 5 of Title 15.1 of the Code of
<br />Virginia, 1950, as amended (the same being the Public
<br />Finance Act), and the Charter Of the city, and ~roceedings
<br />of the Council of the City duly adopted and taken under such
<br />Chapter 5 and such Charter.
<br />
<br /> The Bonds of the issue of which this Bond is one
<br />maturing on and al%er (or portions thereof
<br />in installments of $5,000) are subject to redemption at the
<br />option of the City prior to their stated maturities on or
<br />after , in whole at any time, or in part
<br />from time to time on any interest payment date in any order
<br />determined by t~e City (except. that if at any time less than
<br />all of the Bonds of a given maturity are called ~or redemp-
<br />tion, the particular 3onds of such maturity or portions
<br />thereof in installments of S5,000 to be redeemed shall be
<br />selected by lot), upon payment of the principal amount of
<br />the B0nds~(or portions thereof in installments of $5,000) to
<br />be redeemed, tQgether with the interest accrued thereon to
<br />the date f£xed' for redemption, plus a premium o~ [INSE~T
<br />REDEMPTIONPREMIUM$].
<br />
<br /> If this Bond is redeemable and this Bond (or any
<br />portion of the principal amount hereof in installments of
<br />$5,000) shall be called for redemption, notice of the
<br />redemption hereof, specifying the date, number and maturity
<br />of this Bond, the da~e and place or places fixed for its
<br />redemption, the premium, if any, payable upon such redemp-
<br />tion, and if less than the entire princlpal amount of this
<br />Bond is to be redeemed, that this Bond must be surrendered
<br />in exchange for the principal amoun~ hereof to be redeemed
<br />and a new Bond or Bonds issued equalling in principal amount
<br />that portion of the principal amount hereof no~ 5o be
<br />redeemed, shall be mailed not less than thirty (30) days
<br />prior to the date fixed for redemption by first class mail,
<br />postage prepaid, to the Registered Holder hereof at his
<br />address as it appears on the books of registry kept by the
<br />Registrar as of the close of business on the forty-fifth
<br />(45th) day preceding the date fixed for redemption. If
<br />notice of the redemption of this Bond shall have been given
<br />as aforesaid, and paymen~ of the principal amount of this
<br />Bond (or the portion of the principal amount hereof to be
<br />redeemed) and of the accrued interest and premium, if any,
<br />pa~able upon such redemption shall have been duly ~ade or
<br />provided for, interest hereo~ shall cease to accrue from and
<br />after the date so specified for the redemption hereof.
<br />
<br /> Subject to the limitations ~nd upon paymen~ of the
<br />charges, if any, provided in the proceedings authorizing the
<br />Bonds of the ~ssue of which this Sond is one, this Bond may
<br />be exchanged at the principal corporate ~rust office of the
<br />Registrar for a like aggregate principal amount of Bonds of
<br />other authorized principal amounts and of the same issue,
<br />interest rate and maturity. This Bond is transferable by
<br />the Registered Holder hereof, in person or by his attorney
<br />duly authorized in writing, on the books of registry kept by
<br />the Registrar for such purpose at the principal corporate
<br />trust office of the Registrar but only in the manner,
<br />subject to the limitations and upon payment of the charges,
<br />if any, provided in the proceedings authorizing the Bonds of
<br />the issue of which this Bond is one, and upon the surrender
<br />hereof for cancellation. Upon such ~ransfer a new Bond or
<br />Bonds of authorized denominations and of the same aggregate
<br />principal amount, interest rate and maturity as the Bond
<br />surrendered, will be issued to the transferee in exchange
<br />herefor.
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