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($275,000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVI'_LE, TO BE KNOWN AS "GAS IMPROVEMENT BONDS, SERIES OF 1950"; THAT SAID BONDS SHALL BE IN DENOMI— NATIONS OF ONE THOUSAND DOLLARS EACH, NUMBERED 1 TO 275, INCLUSIVE, ALL DATED THE FIRST DAY OF JULY, 1950, AND SHALL BE PAYABLE TO BEARER SERIALLY AS FOLLOWS: BONDS AGGREGATING FIFTEEN THOUSAND DOLLARS ($15,000.00) SHALL BE PAYABLE ANNUALLY ON THE FIRST DAY OF JULY IN EACH YEAR FROM 1951 TO 1965, BOTH INCLUSIVE, AND BONDS AGGREGATING TEN THOUSAND DOLLARS ($102000.00) SHALL BE PAYABLE ANNUALLY ON THE FIRST DAY OF JULY FROM 1966 TO 1970, BOTH INCLUSIVE. ALL OF THE SAID BONDS SHALL BEAR INTEREST AT A RATE OR RATES NOT, HOWEVER, EXCEEDING TWO RATES) NOT EXCEEDING FIVE PER CENTUM (5%) PER ANNUM, PAYABLE SEMI- ANNUALLY ACCORDING TO THE TENOR OF COUPONS FOR SEMI-ANNUAL INTEREST PAYMENTS TO BE THERETO ATTACHED, THE EXACT RATE OR RATES OF INTEREST TO BE DETERMINED BY THE RATE OR RATES NAMED BY THE BID WHICH IS ACCEPTED BY THE FINANCE COMMITTEE AND APPROVED BY THE COUNCIL. 11. THAT SAID BONDS AND COUPONS THERETO ATTACHED SHALL BE SUBSTANTIALLY OF THE FOLLOWING FORM AND TENORS - FORM OF BOND - UNITED STATES OF AMERICA STATE OF VIRGINIA CITY OF CHARLOTTESVILLE GAS IMPROVEMENT BOND - SERIES OF 1950 No. $19000.00 THE CITY OF CHARLOTTESVILLE PROMISES TO PAY TO BEARER ONE THOUSAND DOLLARS IN LAWFUL MONEY OF THE UNITED STATES ON THE FIRST DAY OF JULY, 19 , ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE RATE OF PER ANNUM, PAYABLE SEMI-ANNUALLY ON THE FIRST DAY OF JANUARY AND JULY IN EACH YEAR, ON PRESENTATION OF THE 60UPONS HERETO ATTACHED, BOTH PRINCIPAL AND INTEREST TO BE PAYABLE AT THE OFFICE OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, IN CHARLOTTESVILLE, VIRGINIA. THIS BOND IS ONE OF AN ISSUE OF Two HUNDRED SEVENTY-FIVE THOUSAND DOLLARS (.$275,000,00), ISSUED BY THE CITY OF CHARLOTTESVILLE FOR THE PURPOSE OF CONSTRUCTING A PIPE LINE FOR THE TRANSMISSION OF NATURAL GAS TO SAID CITY AND FOR THE PURPOSE OF CONVERTING THE GAS DISTRIBUTION SYSTEM TO NATURAL GAS. 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 CHARLOTTESVILLE ADOPTED MARCH 6, 1950, AND SPREAD IN ORDINANCE BOOK 3, PAGES 96 AND 97, AND APPROVED BY THE VOTERS OF THE CITY AT A SPECIAL ELECTION HELD FOR THAT PURPOSE ON APRIL 11, 1950, 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 a PRESCRIBED BY THE CONSTITUTION OF STATUTES OF THE STATE OF VIRGINIA• IN v;ITNESS WHEREOF THE CITY OF CHARLOTTESVILLE HAS CAUSED ITS SEAL TO BE HEREUNTO AFFIXED, AND THE rviAYOR, CLERK OF THE COUNCIL, AND TREASURER HAVE HEREUNTO SUBSCRIBED THEIR NAMES THIS FIRST DAY OF JULY, 1950.