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<br />• (b)(i) On January 11, 1980, there were authorized, issued and sold $1,000,000
<br />aggregate principal amount of City of Charlottesville, Virginia, General Obligation Public
<br />Improvement Bonds, Series of 1980, dated January 1, 1980 and maturing in the principal amount
<br />of $50,000 on January 1 in each of the years 1981 to 2000, both inclusive, and bearing interest
<br />payable on July 1, 1980 and semiannually on each January 1 and July 1 thereafter (the "Series
<br />1980 Bonds").
<br />(ii) The Series 1980 Bonds maturing on and after January 1, 1991 are subject
<br />to redemption on or after January 1, 1990 upon the terms and conditions and at the redemption
<br />prices stated in the Series 1980 Bonds.
<br />(iii) The Council desires to authorize the issuance and sale of general obligation
<br />public improvement refunding bonds to provide for the refunding in advance of their stated
<br />maturities and redemption of all or a portion of the Series 1980 Bonds maturing on January 1
<br />in the year 2000, the same being outstanding on the date hereof in the principal amount of
<br />$50,000 (the "Refunded Series 1980 Bonds").
<br />(c)(i) On April 24, 1986, there were authorized, issued and sold $6,000,000
<br />aggregate principal amount of City of Charlottesville, Virginia, General Obligation Public
<br />Improvement Bonds, Series 1986, dated April 1, 1986 and maturing in the principal amount of
<br />$300,000 on June 1 in each of the years 1987 to 2006, both inclusive, and bearing interest
<br />payable on December 1, 1986 and semiannually on each June 1 and December 1 thereafter (the
<br />• "Series 1986 Bonds").
<br />(ii) The Series 1986 Bonds maturing on and after June 1, 1997 are subject to
<br />redemption on or after June 1, 1996 upon the terms and conditions and at the redemption prices
<br />stated in the Series 1986 Bonds.
<br />•
<br />(iii) The Council desires to authorize the issuance and sale of general obligation
<br />public improvement refunding bonds to provide for the refunding in advance of their stated
<br />maturities and redemption on June 1, 1998 of all or a portion of the Series 1986 Bonds maturing
<br />on June 1 in each of the years 1999 to 2006, both inclusive, the same being outstanding on the
<br />date hereof in the principal amount of $2,400,000 (the "Refunded Series 1986 Bonds").
<br />(d)(i) On May 27, 1987, there were authorized, issued and sold $5,000,000
<br />aggregate principal amount of City of Charlottesville, Virginia, General Obligation Public
<br />Improvement Bonds, Series 1987, dated May 1, 1987 and maturing in the principal amount of
<br />$250,000 on July 15 in each of the years 1989 to 2007, both inclusive, and bearing interest
<br />payable on January 15, 1998 and semiannually on each January 15 and June 15 thereafter (the
<br />"Series 1987 Bonds").
<br />(ii) The Series 1987 Bonds maturing on and after July 15, 1998 are subject to
<br />redemption on or after July 15, 1997 upon the terms and conditions and at the redemption prices
<br />stated in the Series 1987 Bonds.
<br />199960.1 019496 ORD
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