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GOING; AND, ON ALL PROPERTY ASSESSED FOR CHARLOTTESVILLE TAXATION
<br />
<br /> BY THE STATE CORPORATION COMMISSION, WHICH IS NOT EXEMPT FROM
<br />
<br /> LOCAL TAXATION, THE TAX SHALL BE $1.03 ON EVERY $100.00
<br />
<br /> ASSESSED VALUE THEREOF TO PAY THE GENERAL OPERATING EXPENSES
<br />
<br /> OF THE CITY GOVERNMENT AND TO PAY THE INTEREST AND RETIREMENT
<br />
<br /> ON THE CITY DEBT OTHER THAN SCHOOLS; AND, THERE SHALL BE
<br />
<br /> LEVIED AN ADDITIONAL TAX ON EVERY $100.00 ASSESSED VALUE OF
<br />
<br /> $0.81 TO PAY THE INTEREST AND RETIREMENT ON SCHOOL BONDS AND
<br />
<br /> SCHOOL IMPROVEMENTS, AND $1.85 FOR THE MAINTENANCE AND
<br />
<br /> OPERATION OF THE CITY SCHOOLS; AND $0.21 FOR THE PAYMENT OF
<br />
<br /> TUITION GRANTS.
<br />
<br />ADOPTED BY THE COUNCIL
<br /> APRIL 20, 1964
<br />AYES: MR. LEE, MR. MOUNT, MR. PONTON
<br /> AND MR. SCRIBNER.
<br />NOES: NONE. (MR. HAGGERTY ABSENT)
<br />
<br />CLERK SIGNATURE
<br />PRESIDENT SIGNATURE
<br />
<br />
<br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF THREE MILLION
<br />
<br /> FIVE HUNDRED THOUSAND DOLLARS ($3,500,000.00) OF BONDS
<br />
<br /> OF THE CITY OF CHARLOTTESVILLE TO BE KNOWN AS "SCHOOL
<br />
<br /> IMPROVEMENT BONDS, SERIES OF 1963".
<br />
<br />
<br />WHEREAS, THE ISSUANCE OF THREE MILLION FIVE HUNDRED THOUSAND
<br />
<br /> DOLLARS ($3,500,000.00) OF SERIAL BONDS OF THE CITY OF
<br />
<br /> CHARLOTTESVILLE, TO BE KNOWN AS "SCHOOL IMPROVEMENT BONDS,
<br />
<br /> SERIES OF 1963," HAS BEEN APPROVED BY AN ORDINANCE ADOPTED
<br />
<br /> BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, ON
<br />
<br /> SEPTEMBER 30, 1963, AND SPREAD IN ORDINANCE BOOK 4, PAGES 1
<br />
<br /> AND 2, AND ALSO APPROVED BY THE VOTERS OF THE CITY AT AN
<br />
<br /> ELECTION HELD FOR THAT PURPOSE ON NOVEMBER 5, 1963, IN
<br />
<br /> ACCORDANCE WITH THE CHARTER OF THE CITY OF CHARLOTTESVILLE,
<br />
<br /> AND THE LAWS OF THE STATE OF VIRGINIA.
<br />
<br />
<br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
<br />
<br /> CHARLOTTESVILLE:
<br />
<br />
<br />(1) THAT THERE SHALL BE ISSUED THREE MILLION FIVE HUNDRED
<br />
<br /> THOUSAND DOLLARS ($3,500,000.00) OF SERIAL BONDS OF THE CITY
<br />
<br /> OF CHARLOTTESVILLE, TO BE KNOWN AS "SCHOOL IMPROVEMENT BONDS,
<br />
<br /> SERIES OF 1963"; THAT SAID BONDS SHALL BE DATED JUNE 1, 1964,
<br />
<br /> SHALL BE OF THE DENOMINATION OF FIVE THOUSAND DOLLARS
<br />
<br /> ($5,000.00) EACH AND SHALL BE NUMBERED FROM 1 TO 700,
<br />
<br /> INCLUSIVE, AND SHALL MATURE SERIALLY IN NUMERICAL ORDER,
<br />
<br /> $175,000 BONDS ON JUNE 1 IN EACH OF THE YEARS 1965 TO 1984,
<br />
<br /> INCLUSIVE, AND BOTH PRINCIPAL AND INTEREST THEREOF SHALL BE
<br />
<br /> PAYABLE AT THE VIRGINIA NATIONAL BANK, CHARLOTTESVILLE,
<br />
<br /> VIRGINIA, OR AT THE CHEMICAL BANK NEW YORK TRUST COMPANY,
<br />
<br /> NEW YORK, NEW YORK, AT THE OPTION OF THE HOLDER.
<br />
<br />
<br />ALL OF SAID BONDS SHALL BEAR INTEREST AT A RATE OR RATES NOT,
<br />
<br /> HOWEVER, EXCEEDING FOUR (4) RATES, AND NOT EXCEEDING FIVE PER
<br />
<br /> CENTUM (5%) PER ANNUM, PAYABLE SEMI-ANNUALLY ACCORDING TO THE
<br />
<br /> TENOR OF COUPONS FOR SEMI-ANNUAL INTEREST PAYMENTS TO BE
<br />
<br /> THERETO ATTACHED, THE EXACT RATE OR RATES OF INTEREST TO BE
<br />
<br /> DETERMINED BY THE RATE OR RATES NAMED BY THE BID WHICH IS
<br />
<br /> ACCEPTED BY THE CITY MANAGER AND APPROVED BY THE COUNCIL.
<br />
<br />
<br />(2) THAT SAID BONDS AND COUPONS THERETO ATTACHED SHALL BE
<br />
<br /> SUBSTANTIALLY OF THE FOLLOWING FORM AND TENOR:
<br />
<br />
<br />-FORM OF BOND-
<br />
<br />
<br />UNITED STATES OF AMERICA
<br />
<br />
<br />STATE OF VIRGINIA
<br />
<br />
<br />CITY OF CHARLOTTESVILLE
<br />
<br />
<br />SCHOOL IMPROVEMENT BONDS — SERIES OF 1963
<br />
<br />
<br />NO. ________ $5,000.00
<br />
<br />
<br />THE CITY OF CHARLOTTESVILLE PROMISES TO PAY TO BEARER
<br />
<br />
<br /> FIVE THOUSAND DOLLARS
<br />
<br />
<br />IN LAWFUL MONEY OF THE UNITED STATES ON THE FIRST DAY OF JUNE,
<br />
<br /> 19____, ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE
<br />
<br /> RATE OF ____% PER ANNUM, PAYABLE SEMI-ANNUALLY ON THE FIRST
<br />
<br /> DAY OF JUNE AND DECEMBER IN EACH YEAR, ON PRESENTATION OF THE
<br />
<br /> COUPONS HERETO ATTACHED, BOTH PRINCIPAL AND INTEREST TO BE
<br />
<br /> PAYABLE AT THE VIRGINIA NATIONAL BANK, CHARLOTTESVILLE,
<br />
<br /> VIRGINIA, OR AT CHEMICAL BANK NEW YORK TRUST COMPANY, NEW
<br />
<br /> YORK, NEW YORK, AT THE OPTION OF THE HOLDER.
<br />
<br />
<br />THIS BOND IS ONE OF AN ISSUE OF THREE MILLION FIVE HUNDRED
<br />
<br /> THOUSAND DOLLARS ($3,500,000.00) ISSUED BY THE CITY OF
<br />
<br /> CHARLOTTESVILLE FOR THE PURPOSE OF SITE ACQUISITION,
<br />
<br /> CONSTRUCTION AND FURNISHING OF TWO
<br />
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