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While the said bonds or any of them shall remain outstanding or
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<br />unpaid, there shall be levied and collected from the users of City Water
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<br />a water rate sufficient to provide for the payment of the principal and
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<br />interest as the same become due and payable. Should the revenue from the
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<br />water works be insufficient in any year to pay the cost of operation and
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<br />administration of such plant (including interest and installments of
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<br />principal of bonds issued therefor, and the cost of insurance against loss
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<br />by injuries to persons or property), there shall be levied upon all taxable
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<br />property of said City such taxes as may be necessary to provide for the pay-
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<br />ment of the principal and interest of said bonds at maturity.
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<br />VII. This ordinance shall take effect immediately.
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<br />Adopted by the Council December 21, 1944.
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<br />Ayes: Mr. Adams, Mr. Gleason, Mr. Hildreth,
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<br />Mr. Morris and Mr. Watson.
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<br />Noes: None.
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<br />Clerk Signature
<br />President Signature
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<br />LEGAL OPINION RE: CITY OF CHARLOTTESVILLE, VIRGINIA
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<br />WATER IMPROVEMENT BONDS, SERIES OF 1945
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<br />$500,000.00
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<br />February 1, 1945
<br />
<br />Lyttelton Waddell, Esq.,
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<br />City Attorney,
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<br />Charlottesville, Virginia.
<br />
<br />Dear Sir:
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<br />CITY OF CHARLOTTESVILLE, VIRGINIA, WATER IMPROVEMENT
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<br />BONDS - SERIES OF 1945, $500,000.
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<br />At the request of the Council of the City of Charlottesville,
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<br />Virginia, we have examined into the validity of an issue of $500,000.00
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<br />Water Improvement Bonds - Series of 1945, of the City of Charlottesville,
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<br />Virginia, dated February 1, 1945, payable serially in numerical order:
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<br />$15,000 bonds on February 1 in each of the years 1948 to 1957, inclusive,
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<br />and $35,000 bonds on February 1 in each of the years 1958 to 1967, inclusive,
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<br />numbered from 1 to 500, inclusive, of the denomination of $1,000 each, and
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<br />bearing interest at the rate of one and one-tenth per centum per annum,
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<br />payable semi-annually February 1 and August 1; said bonds reciting that they
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<br />are issued for the purpose of improving and increasing the water supply of
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<br />said City, under and by virtue of, and in full conformity with and pursuant
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<br />to an ordinance of the City of Charlottesville adopted November 9, 1944,
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<br />and spread in Ordinance Book 2, pages 332-333, and approved by the voters of
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<br />the City at a Special Election held for that purpose on December 12, 1944,
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<br />in accordance with the Charter of the City of Charlottesville, and the Laws
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<br />of the State of Virginia. We have examined the Constitution and statutes of
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<br />the State of Virginia, including the Charter of the City of Charlottesville,
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<br />and certified copies of proceedings of the Council of said City authorizing
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<br />the issuance of said bonds, also an executed bond of said issue, No. 1.
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<br />In our opinion said bonds have been authorized and issued in
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<br />accordance with the Constitution and statutes of the State of Virginia, including
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<br />the Charter of the City of Charlottesville, Virginia, and constitute valid and
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<br />legally binding obligations of the City of Charlottesville, Virginia, and said
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<br />City has power and is obligated to levy ad valorem taxes for the payment of
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<br />said bonds and the interest thereon, upon all property within said City subject
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<br />to taxation by said City, without limitation of rate or amount.
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<br />Very truly yours,
<br />
<br />WOODS, HOFFMAN, KING & DAWSON
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<br />(Signed)
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