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<br />AND THAT THE CITY HAS POWER, AND IS OBLIGATED TO, LEVY AD VALOREM TAXES FOR THE PAYMENT OF SAID
<br />BONDS AND THE INTEREST THEREON, UPON ALL PROPERTY WITHIN SAID CITY, SUBJECT TO TAXATION BY SAID
<br />CITY, WITHOUT LIMITATION OF RATE OR AMOUNT. A COPY OF SUCH OPINION WILL BE PRINTED ON THE BACK
<br />OF THE BONDS.
<br />ANY ADDITIONAL INFORMATION RELATIVE TO THIS BOND ISSUE OR THE FINANCIAL CONDITION OF THE
<br />CITY OF CHARLOTTESVILLE, VIRGINIA, AS WELL AS FORM OF BID WHICH MAY BE USED, MAY BE OBTAINED
<br />UPON REQUEST TO COLE HENDRIX, CITY MANAGER, OR J. S. RUSH, JR., DIRECTOR OF FINANCE,
<br />CHARLOTTESVILLE, VIRGINIA.
<br />COLE HENDRIX
<br />CITY MANAGER.
<br />SECTION 4. THERE SHALL BE, AND HEREBY IS, ACCEPTED THE BID OF CHEMICAL BANK, FOR THE PURCHASE
<br />OF SAID SIX MILLION DOLLARS (6,000,000) PRINCIPAL AMOUNT ~CHOOL IMPROVEMENT BONDS, SERIES OF 1970,
<br />OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, SAID BID BEING THE BEST BID FOR SAID BONDS AT THE SALE
<br />THEREOF HELD THIS DAY AND BEING A BID OF PAR PLUS A PREMIUM OF SEVEN THOUSAND THREE HUNDRED FIVE
<br />DOLLARS ($7,305.00) AND ACCRUED INTEREST FROM THE DATE OF SAID BONDS TO THE DATE OF DELIVERY THERE-
<br />OF, FOR BONDS BEARING INTEREST AT THE RATES PER ANNUM SET FORTH BELOW:
<br />YEAR OF
<br />RATE OF
<br />YEAR OF
<br />RATE OF
<br />MATURITY
<br />INTEREST
<br />MATURITY
<br />INTEREST
<br />1972
<br />4%
<br />1982
<br />4.40%
<br />1973
<br />4%
<br />1983
<br />4.40
<br />1974
<br />4%
<br />1984
<br />4.40%
<br />1975
<br />4%
<br />1985
<br />4.40%
<br />1976
<br />4%
<br />1986
<br />4.50%
<br />1977
<br />4%
<br />1987
<br />4.50%
<br />1978
<br />4%
<br />1988
<br />4.500
<br />1979
<br />4%
<br />1989
<br />4.50%
<br />1980
<br />4%
<br />1990
<br />4.50%
<br />1981
<br />45
<br />1991
<br />4.50%
<br />SECTION 5. THE BONDS SHALL BE IN BEARER FORM WITH COUPONS FOR INTEREST ATTACHED AND WITHOUT
<br />PRIVILEGE OF REGISTRATION. THE BONDS AND THE COUPONS THERETO ATTACHED SHALL BE SUBSTANTIALLY OF
<br />THE FOLLOWING FORM AND TENOR, AND SHALL BE EXECUTED IN THE MANNER SET FORTH THEREIN:
<br />(FORM OF BOND)
<br />UNITED STATES OF AMERICA
<br />COMMONWEALTH OF VIRGINIA
<br />CITY OF CHARLOTTESVILLE
<br />SCHOOL IMPROVEMENT BONDS, SERIES OF 1970
<br />NO. $5,000.00
<br />THE CITY OF CHARLOTTESVILLE, FOR VALUE RECEIVED, HEREBY PROMISES TO PAY TO BEARER ON THE
<br />FIRST DAY OF APRIL, 19_1 THE PRINCIPAL SUM OF
<br />FIVE THOUSAND..DOLLARS ($5..000)
<br />ON THE PRESENTATION AND SURRENDER OF THIS BOND, AND TO PAY INTEREST ON SAID SUM FROM THE DATE
<br />HEREOF UNTIL MATURITY AT THE RATE OF
<br />PER CENTUM ( "f) PER ANNUM, PAYABLE
<br />SEMIANNUALLY ON THE FIRST DAY OF APRIL AND OCTOBER ON THE PRESENTATION AND SURRENDER OF THE
<br />COUPONS HERETO ATTACHED AS THEY SEVERALLY BECOME DUE, BOTH PRINCIPAL AND INTEREST BEING PAYABLE
<br />IN SUCH LAWFUL CURRENCY OF THE UNITED STATES WHICH AT THE TIME OF PAYMENT IS LEGAL TENDER FOR
<br />PUBLIC AND PRIVATE DEBTS. BOTH PRINCIPAL OF AND INTEREST ON THIS BOND ARE PAYABLE AT THE OFFICE
<br />OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, IN CHARLOTTESVILLE, VIRGINIA, OR, AT THE OPTION
<br />OF THE HOLDER OF THIS BOND OR SAID COUPONS, AT THE PRINCIPAL OFFICE OF THE VIRGINIA NATIONAL BANK,
<br />IN CHARLOTTESVILLE, VIRGINIA, OR THE CHEMICAL BANK, IN NEW YORK, NEW YORK.
<br />THIS BOND IS ONE OF AN ISSUE OF SIX MILLION DOLLARS ($61000,000) ISSUED UNDER AND PURSUANT
<br />TO AND IN CONFORMITY WITH THE CONSTITUTION AND LAWS OF THE COMMONWEALTH OF VIRGINIA, INCLUDING
<br />CHAPTER 5 OF TITLE 15.1 OF THE CODE OF VIRGINIA, 1950, AS AMENDED, AND THE CHARTER OF THE CITY OF
<br />CHARLOTTESVILLE AND AN ORDINANCE AND RESOLUTION ADOPTED UNDER SAID CONSTITUTION AND LAWS, INCLUDING
<br />SAID CHAPTER AND SAID CHARTER, BY THE COUNCIL OF SAID CITY ON APRIL 6, 1970 AND MARCH 92 19712
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