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229
<br />
<br /> The City of Charlottesville, a municipal corporation
<br />of the Commonwealth of Virginia (the "City"), for value
<br />received, acknowledges itself indebted and hereby promises
<br />to pay to the Registered Holder (named above), or
<br />registered assigns, on the Maturity Date (specified above),
<br />unless this Bond shall have been duly called for previous
<br />redemption and payment of the redemption price duly made or
<br />provided for, the Principal Sum (specified above), and to
<br />pay interest on such Principal Sum on the first day of
<br />December, 1986 and semiannually on the first day of June
<br />and on the first day of December of each year thereafter
<br />(each such date is hereinafter referred to as an "interest
<br />payment date"), from the date hereof or from the interest
<br />payment date next preceding the date of authentication
<br />hereof to which interest shall have been paid, unless such
<br />date of authentication is an interest payment date, in
<br />which case, from such interest payment date, or unless such
<br />date of authentication is within the period from the
<br />sixteenth (16th) day to the last day of the calendar month
<br />next preceding the following interest payment date, in
<br />which case from such following interest payment, date, such
<br />interest to be paid until the maturity or redemption
<br />hereof at the Interest Rate (specified above) per annum by
<br />check mailed by the Registrar hereinafter mentioned to the
<br />Registered Holder in whose name this Bond is registered
<br />upon the books of registry of the City kept by the
<br />Registrar and Paying Agent as of the close of business on
<br />the fifteenth (15th) day (whether or not a business day)
<br />of the calendar month next preceding each interest payment
<br />date at his address as it appears on such books of
<br />registry. The principal of and premium, if any, on this
<br />Bond are payable on presentation and surrender hereof at
<br />the principal corporate trust office of United Virginia
<br />Bank, as Registrar and Paying Agent, in the City of
<br />Richmond, Virginia. Both principal of and premium, if any,
<br />and interest on this Bond are payable in such coin or
<br />currency of the United States of America as at the
<br />respective dates of payment thereof is legal tender for
<br />public and private debts.
<br />
<br /> This Bond is one of a series of Bonds aggregating Six
<br />Million Dollars ($6,000,000) in principal amount issued for
<br />the purpose of providing funds to pay the cost of public
<br />improvement projects of and for the City, including the
<br />retirement of bond anticipation notes heretofore issued for
<br />such purpose, under and pursuant to and in full compliance
<br />with the Constitution and statutees of the Commonwealth of
<br />Virginia, including Chapter 5 of Title 15.1 of the Code of
<br />Virginia, 1950, as amended (the same being the Public
<br />Finance Act), the Charter of the City, as amended, and an
<br />ordinance and proceedings of the Council of the City duly
<br />adopted and taken under such Chapter 5.
<br />
<br /> THE TERMS AND PROVISIONS OF THIS BOND ARE CONTINUED ON
<br />THE REVERSE HEREOF AND SUCH CONTINUED TERMS AND CONDITIONS
<br />SHALL, FOR ALL PURPOSES, HAVE THE SAME EFFECT AS THOUGH
<br />FULLY SET FORTH AT THIS PLACE.
<br />
<br /> The Bonds of the series of which this Bond is one (or
<br />portions thereof in installments of $5,000 or any integral
<br />multiple thereof) maturing on and after June 1, 1997 are
<br />subject to redemption at the option of the City prior to
<br />their stated maturities, on or after June 1, 1996, in whole
<br />at any time or in part from time to time on any interest
<br />payment date, in such order as may be determined by the
<br />City (except that if at any time less than all of the Bonds
<br />of a given maturity are called for redemption, the
<br />particular Bonds of such maturity or portions thereof in
<br />installments of $5,000 to be redeemed shall be selected by
<br />lot), upon payment of the principal amount of the Bonds (or
<br />portions thereof in installments of $5,000) to be redeemed,
<br />together with the interest accrued thereon to the date
<br />
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