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<br />", ~,) ! ) <br />,~ 'I <br />. ~..J \_ <br /> <br />WEDNESDAY <br /> <br />SEPTEMBER 27, 1967 <br /> <br />except on said books, unless this bond shall be discharged for <br />registry by being registered as payable to bearer. If this <br />bond be so registered, the principal shall thereafter be payable <br />only to the registered holder thereof. Such registration shall <br />not affect the negotiability of the coupons, which shall continue <br />to pass by delivery. <br /> <br />This bond is one of an issue of bonds of like date and tenor, <br />except as to rate of interest and maturity, authorized by an <br />ordinance duly adopted by the Council of the City on January 26, <br />1960, and approved by the affirmative vote of the majority of the <br />qualified voters of the City voting upon the question of their <br />issuance at a special election held for that purpose on March 1, <br />1960, in accordance with the provisions of Clause (b) of Section 127 <br />of the Constitution of Virginia, and is issued pursuant to the <br />Public Finance Act of 1958 (Chapter 19.1 of Title 15 of the Code <br />of Virginia, 1950), to pay the cost of improving the sewage disposal <br />system maintained by the City. The City has covenanted that until <br />all of the bonds of said issue have been fully paid and discharged <br />in accordance with their terms (1) the City shall operate its sewage <br />disposal system and shall charge rates or fees for service furnished <br />by such system; and (2) such rates or fees shall be fixed and maintained <br />at a level which will produce sufficient revenues to pay for the cost <br />of operation and administration of said system (including interest on <br />bonds issued therefor ) and the cost of insurance against loss by <br />injury to persons and property, and an annual amount to be covered <br />into a sinking fund sufficient to pay, at or before maturity, all <br />bonds issued to finance said system; and (3) the revenues which the <br />City derives from said system in each fiscal year shall, to the extent <br />necessary, be first applied to the payment of such cost of operation <br />and administration during the fiscal year and to the payment of such <br />annual amount payable in such year; and (4) the City shall segregate <br />and keep segregated, from all other funds, all revenues derived by <br />the City from its operation and ownership of said system. <br /> <br />It is hereby certified and recited that all conditions, acts and <br />things required by the Constitution or statutes of the COilllllonwealth <br />of Virginia to exist, be performed or happen precedent to or in the <br />issuance of this bond, exist, have been performed and have happened, <br />and that the issue of bonds of which this is one, together with all' <br />other indebtedness of the City, is within every debt and other limit <br />prescribed by the Constitution or statutes of the Commonwealth of <br />Virginia, and that the full faith and credit of the City are hereby <br />pledged for the payment of the principal of and interest on this bond <br />in accordance with its terms. <br /> <br />IN WITNESS WHEREOF, the City has caused its corporate seal to be <br />affixed hereto or impressed hereon, and this bond to be signed by <br />its Mayor and attested by its Clerk of Council, and the annexed <br />interest coupons to be authenticated by the facsimile signatures <br />of said Mayor and Clerk of Council, and this bond to be dated <br />September 1, 1967. <br /> <br />ATTEST: <br /> <br />Mayor <br /> <br />Clerk of Council <br />