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BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA: 1. The Council of the City of Charlottesville, Virginia (the "Council") hereby finds and determines that the proposal (the "Proposal") to purchase from the City of Charlottesville, Virginia (the "City',) a one million five hundred thousand dollars ($1,S00,000) principal amount City of Charlottesville, Virginia, General Improvement Bond Anticipation Note, dated as of Seotember S, 1984 (the "Note"), authorized to be issued by an ordinance adopted by this ~Council on June 20, 1983, entitled "AN ORDINANCE AUTHORIZING THE ISSUANCE OF ONE MILLIO.N FIVE HUNDRED THOUSAND DOLLARS ($1,S00,000) PRINCIPAL AMOUNT OFh GENERAL IMPROVEMENT BONDS OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, FOR THE PURPOSE OF PROVIDING FUNDS TO PAY THE .COST~ OF ACQUIRING, CONSTRUCTING, RECONSTRUCTING, IMPROVING, EXTENDING, ENLARGING AND EQUIPPING THE GAS DISTRIBUTION SYSTEM OF AND FOR SUCH CITY: FIXING THE FORM, DENOMINATION AND CERTAIN OTHER FEATURES OF SUCH BONDS; PROVIDING FOR THE ~SALE. OF SUCH BONDS AND PRESCRIBING THE FORM OF A NOTICE OF SALE THEREFOR; AND AUTHORIZING AND PROVIDING WITH RESPECT TO THE ISSUANCE AND SALE OF A LIKE PRINCIPAL AMOUNT OF GENERAL OBLIGATION BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE AND SALE OF SUCH BONDS" (the "Bond Ordinance"), is fair and reasonable and that the acceptance of the Proposal is in the best interest of the City. 2. The Proposal of the Purchaser to purchase the Note for a purchase price equal to one million five hundred thousand dollars ($1,S00,000) and accured interest from the date of the Note to the date of the payment in full of the purchase price .thereof is accepted. In accordance with the terms of the Proposal the Note shall bear interest at the rate per annum as set forth in paragraph 4. 3. Ail action tak to the sale of the Note in negotiating the sale Manager and other offic 4. The Note Shall September 4, 198S; shall fully reigstered note interest at the rate of annum from its date months), payable at mat~ payable at maturity upo~ Bank and Trust Company City Treasurer of the C name the Note is regist by said City Treasurer. be payable in such coin date of payment thereof Note shall be subject t~ on and after March S, of the Note, together wJ redemption. Notice of days prmor to the date Note ms registered on t 5. The Note shall UN] CO~ CI GE~ No. R-1 The ~City of Charlot of Virginia (the "City") and hereby promises to assigns, on September 4 £or redemption, the sum upon presentation and ~s~ date hereof (computed o~ at the Rate of seven~ am at maturity. Both princ ~n to date by the officials of the City with resoect including the action of the City Manager of the City of the Note, and the actions of the Mayor, the City ~als of the City., are approved, ratified and confirmed. be dated as Of September S, 1984; shall mature on be'numbered R-I; and shall be issued as a single the denomination of $1,S00,000 and shall bear seven and five-hundredths per centum (?.05%) per ~puted on the basis of a 360~day year of twelve 3D-day ~rity. Principal of and interest on the Note shall be surrender thereof at the. principal office of National _n Charlottesville, Virginia or at the Office of the ~y of Charlottesville, Virginia by the person in whose ~red on the registration records maintained therefor Both principal ~f and interest on the Note shall or currency of the united States of America as at the is legal tender for public and private debts. The , redemption, at the option of the City, at any 'time ,8S at a r~'demption price equal to the principal amount th accrued interest thereon to the date fixed for ~ny such redemption shall be mailed, not less than 30 ~ixed for redemption, to the person in whose name the .e above-mentioned registration books prior to maturity. be in substantially the following form, to wit: ' (FORM OF NOTE) TED STATES OF AMERICA MONWEALTH OF VIRGINIA TY OF CHARLOTTESVILLE ERAL IMPROVEMENT gOND ANTICIPATION NOTE SI,S00,000 tesville, a municipal corporation of the Commonwealth , for value received, acknowledges itself indebted ay to National Bank & Trust Company, or registered 1985 unless this note shall have been duly called of One Million Five Hundred Thousand Dollars ($1,500,000), rrender hereof together with interest hereon from the the basis of a~360-day year of twelve 30-day months) five hundredths per centum (7.05%) per annum, payable pal of and interest on this no~.e are payable in such coin or currency of the hereof is legal tender of National Bank & Trus at the Office of the Cit United States of America as at the date of payment f~r public and private debts, at the principal office t Company, in the City of Charlottesville~, Virginia or ~ Treasurer of the City of Charlottesville, Virginia. This note is subjec on and after March S, 19 hereof, together with ac Notice of redemption sba so fixed for redemption, the date of mailing such This no~e is transf. purpose at the office of Virginia by the peFson i~ attorney duly authorized written instrument of tr; person or such duly auth, the name of the transfer~ principal amount and des~ of the costs of any tran~ t to redemption, at the option of the City, at any time S at the redemption price equal to the principal amount rued interest hereon to the date fixed for redemption. 11 be mailed, not less than 30 days prior to the date to the person in whose name this note is registered on notice m~ the registration books referred to below. ~rable Only upon the registration records kept for that the City Treasurer of the City of Charlottesville, ~.whose name. this no~e is registered or by his or her mn writing, upon surrender hereof together with a ~nsfer satisfactory to the City duly executed by such ~rized attornez, and thereupon the~City shall issue in tee a new fu21y registered note of the same aggregate _gnation, maturity and interest rate and upon the payment fer taxes or other governmental charges relating thereto.