Minutes 11/03/1969 - Laserfiche WebLink

Home Browse Search

" MONDAY NOVEMBER 3, 1969 -- Section 6. Each of said bonds and of the interest coupons representing the interest payable thereon and the provision for the registration of said bonds to be endorsed thereon shall be in substantially the following form: (Form of Bond) No. No. ,.- UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF MARTINSVILLE SCHOOL BOND $ $ THE CITY OF MARTINSVILLE (hereinafter referred to as "City"), a municipal corporation of the Commonwealth of Virginia, for value received hereby promises to pay to the bearer of this bond, or, if it be registered, to the registered owner, the principal sum of FIVE THOUSAND DOLLARS ($5,000) on the first day of November, 19___, and to pay interest thereon from the date of this bond until it shall mature at the rate of six per centum (6%) per annum, payable semi-annually on May 1 and November 1 in each year, upon presentation and surrender of the coupons there- for attached hereto, as they severally mature. Both principal of and interest on this bond are payable at the principal office of the First National City Bank, New York, New York, or, at the option of the holder, at the First & Merchants National Bank in the City of Richmond, Virginia, or at The First National Bank of Martinsville and Henry County, in the City of Martinsville, Virginia, or at the Piedmont Trust Bank in the City of Martinsville, Virginia, in any coin or currency of the United States of America which, at the time of payment is legal tender for the payment of public and private debts. ,-, This bond may be registered as to principal only by the holder in his name on the bond register of said City kept in the office of the City Treasurer of the City, and such registration shall be noted hereon by said City Treasurer. If so registered, this bond may be transferred on said bond register by the registered owner in person or by attorney, upon presentation of this bond to the City Treasurer with a written instrument of transfer in a form approved by said City Treasurer and executed by said registered owner. If this bond be so registered, the principal shall thereafter be payable only to the person in whose name it is registered, unless this bond shall be discharged from registry by being registered as payable to bearer. Such registration shall not affect the negotiability of the coupons, which shall continue to pass by delivery. This bond is one of an issue of bonds of like date and tenor, except as to maturity, issued pursuant to Chapter 193 of the Acts of 1950 of Virginia as amended, and the Public Finance Act of 1958 (Chapter 5 of