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AN ORDINANCE AUTHORIZING THE ISSUANCE OF FIVE HUNDRED THOUSAND DOLLARS OF 5% BONDS
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<br />OF THE CITY CF CHARLOTTESVILLE, TO BE KNOWN AS "WATER IMPROV I ENT BONDS, SERIES 1924"
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<br />WHEREAS, the issuance of five hundred thousand dollars ($500,000.00) of
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<br />bonds of the City of Charlottesville to be known as "Water Improvement Bonds, Series
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<br />1924" has been approved by an ordinance adopted by the Council of the City of
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<br />Charlottesville. Virginia on October 1st, 1923, and approved by the voters of the said
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<br />City at an election held for that purpose on November 6th, 1923, in accordance with
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<br />the laws of the State of Virginia.
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<br />NOW, THEREFORE, BE IT ORDAINED, by the Council of the City of Charlottesville
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<br />that there shall be issued five hundred thousand dollars ($500,000.00) of 51 bonds of
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<br />the City of Charlottesville, to be known as "Water Improvement Bonds, Series 1924
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<br />and payable January 1st, 1958,and bearing interest at the rate of 5% per annum, pay-
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<br />able semi-annually on the first days of January and July of each year. Said bonds to be
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<br />issued in series of Five Hundred bonds one thousand dollars ($1,000.00) each numbered
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<br />one to five hundred both inclusive.
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<br />That the bonds of said issue and the coupons thereto attached shall be
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<br />substantially of the following form and tenor:
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<br />UNITED STATES OF AMERICA
<br />STATE OF VIRGINIA
<br />CITY OF CHARLOTTESVILLE
<br />"WATER IMPROVEMENT BONDS SERIES 1924"
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<br />NO. 1 $1000.00
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<br />THE CITY OF CHARLOTTESVILLE, VIRGINIA, for value received promises to pay
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<br />to the bearer hereof, at the office of the Teasurer of the City of Charlottesville,
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<br />or at the National Park Bank of New York, in New York, City, at the option of the holder
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<br />hereof, one thousand dollars in Unites States Currency, on the first day of January
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<br />1958, on the surrender of this bond with the interest at the rate of five per cent per
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<br />annum, payable semi-annually on the first days of January and July of each year on the
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<br />presentation of the respective coupons for such interest hereto attached.
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<br />This bond is one of a series of five hundered bonds of one thousand dollars
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<br />($1,000.00) each, numbered one to five hundred both inclusive, issued in pursuance of an
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<br />ordinance adopted by the Council of the laity of Charlottesville, Virginia on October
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<br />1st, 1923 and approved by the affirmative vote of the majority of the qualified voters
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<br />of the City of Chttrlottesville, who voted upon the question of their issuance at an
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<br />election held for that prupose on Novemger 6th, 1923, and in accordance with the
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<br />law of Virginia, the whole series being known as "Water Improvement Bonds, Series, 1926",
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<br />Thile this bond, or any of the bonds of which it is a part shall remain
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<br />outstanding and unpaid, there shall be levied and collected from all of the users of
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<br />City Water a water rate sufficient to provide for the principal and interest as the
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<br />same become due and payable.
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<br />IT IS HEREBY CERTIFIED. RECITED AND DECLARED, that all acts, conditions and
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<br />things required to be done, to have happended or to exist, precedent to and in the
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<br />iosuance of this bond, have been properly done, have happened and been performed and do
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<br />exist in regular and due time, for and in manner as required by law and in full and
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<br />strict compliance with the Constitution and statutues of the State of Virginia, in-
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<br />cludining the Charter of the City of Charlottesville and that the total indebtedness of
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<br />the City of Charlottesville, including this bond and the series of which it forms a part,
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<br />does not exceed any limitation prescribed by the constitution or statutes of the State
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<br />of Virgihia, Including the Charter of the said City but is within every debt and other limit
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<br />prescribed by law, and the faith, credit, and resources, of the said City of Charlottesville
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<br />are hereby irrovocably pledged for the punctual payment of the principal and interest
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<br />of this bond according to its terms.
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<br />This bond is exempt from taxation by the City of Charlottesville for its purposes,
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<br />and the coupons attached hereto are receivable at and after maturity in payment of all
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<br />taxes, debts and demands due the City of Charlottesville, Va.
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<br />IN WITNESS WHEREOF, the City of Charlottesville, Virginia has caused its seal
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<br />to be hereto attached and the Mayor,Clerk of the Council, and Treasurer, have hereunto
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<br />subscribed their names this 1st day of January, 1924.
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<br />THE CITY OF CHARLOTTESVILLE, VIRGINIA, will pay on the 1st day of
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<br />to the bearer hereof, at the office of the Treasurer of the Said City, or
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<br />Park Bank of New York, twenty five dollards in United States Currency the
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<br />installment of interest on above " WATER IMPROVEMENT BOND. SERIES 1924 No. _. This
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