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AN ORDINANCE AUTHORIZING THE ISSUANCE OF EIGHT HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($8750000.00) OF BONDS OF THE CITY OF CHARLOTTES- VILLE, TO BE KNOWN AS "WATER IMPROVEMENT BONDS, SERIES OF 1949" WHEREAS, THE ISSUANCE OF EIGHT HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($875,000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVILLE, TO BE KNOWN AS "WATER IMPROVEMENT BONDS, SERIES OF 1949" HAS BEEN APPROVED BY AN ORDINANCE ADOPTED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, ON FEBRUARY 21, 1949, AND SPREAD IN ORDINANCE BOOK 3, PAGES 55 - 57, AND APPROVED BY THE VOTERS OF THE CITY AT A SPECIAL ELECTION HELD FOR THAT PURPOSE ON MARCH 240 1949, 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 CHARLOTTES- VILLE: • 1. THAT THERE SHALL BE ISSUED EIGHT HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($$75,000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVILLE, TO BE KNOWN INCLUSIVE. ALL OF THE SAID BONDS SHALL BEAR INTEREST AT A RATE NOT EXCEEDI-NG FIVE PER CENTUM (5%) PER ANNUMvPAYABLE SEMI-ANNUALLY 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 1949 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 FIRST DAY OF , 19,91 ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE RATE OF PER ANNUM9 PAYABLE SEMI-ANNUALLY ON THE FIRST DAY OF AND I EACH YEAR, ON PRESENTATION OF THE COUPONS HERETO ATTACHED, BOTH PRINCIPAL AND AS "WATER IMPROVEMENT BONDS, SERIES OF 1949;" THAT SAID BONDS SHALL BE IN DENOMINATIONS OF ONE THOUSAND DOLLARS ($1,000.00) EACH, NUMBERED 1 TO 875 INCLUSIVE, OF WHICH NUMBERS 1 TO 650 INCLUSIVE SHALL BE DATED THE FIRST DAY OF MAY, 1949 AND (V SHALL BE PAYABLE TO BEARER SERIALLY AS FOLLOWS: BONDS AGGREGATING THIRTY THOUSAND W DOLLARS ($30,000.00) SHALL BE PAYABLE ANNUALLY ON THE FIRST DAY OF MAY IN EACH YEAR FROM 1950 TO 1959 BOTH INCLUSIVE, AND BONDS AGGREGATING THIRTY-FIVE THOUSAND DOLLARS ($35,000.00) SHALL BE PAYABLE ANNUALLY ON THE FIRST DAY OF MAY FROM 1960 TO 1969 BOTH INCLUSIVE; THAT BONDS NUMBERED 651 TO 875 INCLUSIVE SHALL BE DATED ON SUCH DATE AS THE FINANCE COML11TTEE SHALL DETERMINE UPON SALE OF SAID BONDS AND SHALL BE PAYABLE TO BEARER SERIALLY AS FOLLOWS: BONDS AGGREGATING TEN THOUSAND DOLLARS ($10,000.00) SHALL BE PAYABLE ANNUALLY ON THE FIRST TO FIFTEENTH ANNIVERSARY OF THE DATE OF SAID BONDS INCLUSIVE AND BONDS AGGREGATING FIFTEEN THOUSAND DOLLARS ($15,000.00) SHALL BE PAYABLE ANNUALLY ON THE SIXTEENTH TO TWENTIETH ANNIVERSARY OF THE DATE OF SAID BONDS INCLUSIVE. ALL OF THE SAID BONDS SHALL BEAR INTEREST AT A RATE NOT EXCEEDI-NG FIVE PER CENTUM (5%) PER ANNUMvPAYABLE SEMI-ANNUALLY 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 1949 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 FIRST DAY OF , 19,91 ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE RATE OF PER ANNUM9 PAYABLE SEMI-ANNUALLY ON THE FIRST DAY OF AND I EACH YEAR, ON PRESENTATION OF THE COUPONS HERETO ATTACHED, BOTH PRINCIPAL AND