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228 <br /> <br />addresses as such addresses appear on the books of registry <br />kept pursuant to paragraph 8 hereof. <br /> <br /> 7. The full faith and credit of the City shall be and <br />is irrevocably pledged to the punctual payment of the <br />principal of and interest on the Bonds as the same become <br />due. In each year while the Bonds, or any of them, are <br />outstanding and unpaid, thereshall be assessed, levied and <br />collected, at the same time and in the same manner as other <br />taxes in the City are assessed, levied and collected, upon <br />all property in the City subject to taxation by the City of <br />tax sufficient to provide for the payment of the principal <br />of and interest on the Bonds as the same become due. <br /> <br /> 8. (a) At all times during which any Bond remains <br />outstanding and unpaid, the Registrar shall keep or cause <br />to be kept at its principal corporate trust office books of <br />registry for the registration, exchange and transfer of the <br />Bonds. Upon presentation at its principal corporate trust <br />office for such purpose the Registrar, under such <br />reasonable regulations as it may prescribe, shall register, <br />exchange, transfer, or cause to be registered, exchanged or <br />transferred, on the books of registry the Bonds as <br />hereinbefore set forth. The books of registry shall at <br />all times be open for inspection by the City or any duly <br />authorized officer thereof. <br /> <br /> (b) Any Bond may be exchanged at the principal <br />corporate trust office of the Registrar for a like <br />aggregate principal amount of such Bonds in other <br />authorized principal sums of the same series, interest rate <br />and maturity. <br /> <br /> (c) Any Bond may, in accordance with its terms, <br />be transferred upon the books of registry by the person in <br />whose name it is registered, in person or by his duly <br />authorized ttorney, upon surrender of such Bond to the <br />Registrar for cancellation, accompanied by a written <br />instrument of transfer duly executed by the registered <br />holder in person or his duly authorized attorney, in form <br />satisfactory to the Registrar.. <br /> <br /> (d) Ail transfers or exchanges pursuant to this <br />paragraph shall be made without expense to the holder of <br />such Bonds, except as otherwise herein provided, and <br />except that the Registrar for the Bonds shall require the <br />payment by the holder of the bond requesting such trasnfer <br />or exchange of any tax or other governmental charges <br />required to be paid with respect to such transfer or <br />exchange. AL1 Bonds surrendered pursunt to this paragraph <br />shall be cancelled. <br /> <br /> 9. The Bonds shall be in substantially the following <br />form, to wit: <br /> <br />(FORM OF BONDS) <br /> <br /> UNITED STATES OF AMERICA <br /> COMMONWEALTH OF VIRGINIA <br /> CITY OF CHARLOTTESVILLE <br />PUBLIC IMPROVEMENT BOND, SERIES 1986 <br /> <br />No. R - <br /> <br />INTEREST MATURITY ORIGINAL <br />RATE: DATE: ISSUE DATE: <br /> <br />CUSIP: <br /> <br />REGISTERED HOLDER: <br />PRINCIPAL SUM: <br /> <br />DOLLARS <br /> <br /> <br />