Minutes 04/29/1968 - Laserfiche WebLink

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(Form of Bond) No. _ No. UNITED STATES OF AMERICA COMl4JNWEALTH OF VIRGINIA CITY OF MARTINSVILLE PUBLIC IMProVEMENT roND :jj) $ THE CITY OF MARTINSVILLE (hereinafter referred to as "Cityl), 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 May, 19____, and to pay interest thereon from the date of this bond utltil it shall mature at the rate of per centum ( %) per annum, payable semi-annually on May 1 and November 1 in each year, upon presentation and sur- render of the coupons therefor 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 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, th. 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 and interest rate, issued pursuant to the Public Finance Act of 1958 (Chpater 5 of Title 15.1 of the Code of Virginia, 1950), and ordinances duly adopted by the Council of said City on January 13, 1966 and March 24, 1966, pursuant thereto, and approved by the affirmative vote of a majority of the qualified voters of said City voting upon the question of their issuance at elections held in the City on February S, 1966 and April 19, 1966, for the purposes of financing the cost of the construction of new municipal buildings, and jails or prisoner detention facilities and the cost of the construction, reconstruction, and improvement by the erection of additions, of school buildings and facilities in the City. 294 (c)