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December 12, 1944, in accordance with the Charter of the City of Charlottesville and the laws of the State of Virginia. NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE: I. That there shall be issued Five Hundred Thousand Dollars ($500,000.00) of serial bonds of the City of Charlottesville, to be known as "Water Improvement Bonds, Series of 1945"; that said bonds be dated the first day of February, 1945, and numbered from one to five hundred inclusive; that they be in denominations of One Thousand Dollars ($1,000.00) each; that said bonds and interest thereon shall be made payable at the office of the City Treasurer in the City of Charlottesville, as follows: $15,000.00 of said issue shall mature annually on the first day of February in each year from 1948 to 1957, both inclusive; $35,000.00 of said issue shall mature annually on the 1st day of February in each year from 1958 to 1967, both inclusive; All of the said bonds shall bear interest at a rate not exceeding two per centum (2%) per annum, payable semi-annually on the first day of February and August in each year according to the tenor of coupons for semi-annual interest payments to be thereto attached, the exact rate of interest to be determined by the rate named by the bid which is accepted by the Finance Committee and approved by the Council. II. That said bonds and coupons thereto attached shall be substantially of the following form and tenor: FORM OF BOND UNITED STATES OF AMERICA STATE OF VIRGINIA CITY OF CHARLOTTESVILLE WATER IMPROVEMENT BOND - SERIES OF 1945 No. __________________ $1,000.00 The City of Charlottesville promises to pay to bearer ONE THOUSAND DOLLARS in lawful money of the United States on the _____ day of _______***, 19***, on the surrender of this bond, with interest at the rate of _____ per annum, payable semi-annually on the first day of February and August in each year, on presentation of the coupons hereto attached, both principal and interest to be payable at the office of the Treasurer of the City of Charlottesville, in Char- lottesville, Virginia. This bond is one of an issue of Five Hundred Thousand Dollars ($500,000.00), issued by the City of Charlottesville for the purpose of improving and increasing the water supply of said City. This bond is issued by the City of Charlottesville under and by virtue of, and in full conformity with and pursuant to an ordinance of the City of Charlottes- ville adopted November 9th, 1944, and spread in Ordinance Book 2, page 332-333 and approved by the voters of the City at a Special Election held for that purpose on December 12th, 1944 in accordance with the Charter of the City of Charlottesville, and the Laws of the State of Virginia, and the full faith and credit of the City are pledged for the payment of the principal and interest hereof. It is hereby certified that all the requirements of law have been fully complied with by the proper officers in issuing this bond, and that the total amount of this bond and of the issue of which it forms a part does not exceed the debt limit pre- scribed by the Constitution or Statutes of the State of Virginia.