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366
<br />
<br />January 22, 1980
<br />
<br />and surrender hereof the amount shown hereon in such coin or currency of the United States
<br />of America as at the date of payment hereof is legal tender for public and private debts, at
<br />the principal office of the Virginia National Bank, in Norfolk, Virginia, or, at the option o
<br />the bearer, at the principle office of The Chase Manhattan Bank (National Association), ~n
<br />the City of New York, New York, being interest then due on its General Obligation Public
<br />Utility Bond, dated as of March 1, 1980, and numbered
<br />
<br />NO.
<br />
<br />Director of Finance
<br />
<br />(Form of Provisions for Registratio~
<br />
<br /> This Bond may be registered as to principal only in the name of the holder on the books
<br />of registry to be kept by the Director of Finance of the City of Portsmouth, Virginia, as
<br />Registrar, snch registration to be noted by the Registrar in the registration blank below.
<br />After such registration, no transfer hereof shall be effective against the Registrar, the Cit~
<br />of Portsmouth and the paying agents for this Bond unless made on said books by the registered'
<br />owner or attorney duly authorized and similarly noted H~reon, but this Bond may be discharged
<br />from such registration by bein~ transferred to bearer, after which this Bond shall be trans-
<br />ferable by delivery, but this Bond. may be again registered as before. The registration of
<br />this Bond as to principal shall not restrain the negotiability by delivery merely of the
<br />coupons pertaining hereto, but the coupons m~y be surrendered and the interest made payable
<br />~only to the registered owner, in which event the Registrar shall note in the registration
<br />bla~k b~low that this bond is registered as to interest as well as to principal. With the
<br />consent of the holder and the Registrar, this Bond when converted into a bond registered as t
<br />both principal and interest may be reconverted into a coupon bond and again converted into
<br />a bond registered as to both principal and interest as hereinabove provided, but always at
<br /> the expense of the holder. Upon reconversion of this Bond, when registered as to principal
<br /> and interest, into a coupon bond, coupons representing the interest to accrue on this Bond
<br /> to date of maturity shall be attached thereto by the Registrar, and the Registrar shall note
<br /> in the registration blank below whether this Bond is registered as to principal only or payab
<br /> to bearer,
<br />
<br />DATE OF
<br />~EGISTRATION:
<br />
<br />IN WHOSE NAME
<br />REGISTERED:
<br />
<br />MANNER OF
<br />REGISTRATION:
<br />
<br />SIGNATURE OF
<br />REGISTRAR:
<br />
<br />~e
<br />
<br /> 10. The City Manager of the City is hereby authorized to publish and distribute a notice
<br />of sale of the Bonds, such publication to be made in The Daily Bond Buyer, a financial news-
<br />paper published in the City of New York, New York, and in The Virginian Pilot, a newspaper ~f
<br />general circulation in the City, at least once in each such paper, with the date of the first
<br />publication to be at least seven (7) days prior ~o the date of sale of the Bonds. Such notic
<br />of sale shall be in substantially the following form:
<br />
<br />"NOTICE OF SALE
<br />
<br />CITY OF PORTSMOUTH, VIRGINIA
<br />
<br />$12,000,000 GENERAL OBLIGATION BONDS
<br />
<br /> Sealed proposals for the purchase of $12,O00,000 general obligation bonds hereinafter
<br />described of the City of Portsmouth, Virginia, will be received at the office of the City
<br />Manager, Municipal Building, Portsmouth, Virginia until twelve o'clcck Noon, Virginia time,
<br />on Thumsday, February 28, 1980, at which time and place all proposals will be publicly opened
<br />
<br /> The bonds offered for sale fthe "Bonds") consist of two issues of general obligation
<br />bonds:
<br />
<br /> 1. $7,000,000 General Obligation Public fmprovement Bonds maturing ~n the principal
<br />amount of $350,000 on March 1 in each of the years 1981 through 2000.
<br />
<br /> 2. $5,O00,OO0 General Obligation Public Utility Bonds maturing in the principal amount
<br />o£ $250,000 on March 1 in each of the years 1981 and 2000.
<br />
<br /> The Bonds will be dated March 1, 1980; will be in coupon form registrable as to principa]
<br />only or as to both principal and interest; will be of the denomination of $5,000 each; and
<br />bear interest Fayable September 1, 1980, and semi-annually thereafter on March 1 and Septembe~
<br />1 of each year. Both principal of and interest on the Bonds will be payable in such coin
<br />or currency of the United States of America as at the respective dates of payment is legal
<br />tender for public and private debts, at the principal office of Virginia National Bank, in
<br />Norfolk, Virginia, or at the option of the holder of any Bonds or coupon pertaining thereto
<br />
<br />
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