1991_Ordinances - Laserfiche WebLink

Home Browse Search

- 7 - • This Bond is one of an issue of Bonds aggregating Dollars ($ ) in principal amount issued for the purpose of providing funds to pay the cost of pubic improvement projects of and for the City, under and pursuant to and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, including Chapter 5.1 of Title 15.1 of the Code of Virginia, 1950, as amended (the same being the Public Finance Act of 1991), the Charter of the City, as amended, and an ordinance and proceedings of the Council of the City duly adopted and taken under such Chapter 5.1. REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE SIDE HEREOF. SUCH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH ON THE FRONT SIDE HEREOF. The Bonds of the issue of which this Bond is one (or portions of the principal amount thereof in installments of $5,000 or any integral multiple thereof) maturing on and after are subject to redemption at the option of the City prior to their stated maturities, on or after in whole at any time, or in part from time to time on any interest payment date, in such order as may be determined by the City (except that if at any time less than all of the Bonds of a given maturity are called for redemption, the • particular Bonds of such maturity or portions thereof in installments of $5,000 to be redeemed shall be selected by lot), upon payment of the principal amount of the Bonds (or portions thereof installments of $5,000) to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus [INSERT PROVISION FOR REDEMPTION]. If this Bond is redeemable and this Bond (or any portion of the principal amount hereof in installments of $5,000) shall be called for redemption, notice of the redemption hereof, specifying the date, number and maturity of this Bond, the date and place or places fixed for its redemption, the premium, if any, payable upon such redemption, and if less than the entire principal amount of this Bond is to be redeemed, that this Bond must be surrendered in exchange for the principal amount hereof not to be redeemed, shall be mailed not less than thirty (30) days prior to the date fixed for redemption, by first class mail, postage prepaid, to the Registered Owner hereof at his address as it appears on the books of registry kept by the Registrar as of the close of business on the forty-fifth (45th) day preceding the date fixed for redemption. If notice of the redemption of this Bond shall have been given as aforesaid, and payment of the principal amount of this Bond (or of the portion of the principal amount hereof to be redeemed) and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made or provided for, interest hereon shall cease to accrue from and after the date so specified • for the redemption hereof.