Minutes 03/25/1969 - Laserfiche WebLink

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4C TUESDAY MARCH 25. 1969 the payment of public and private debts. Each of said bonds shall be signed by the Mayor or said City, and shall be attested by the Clerk of Council, and shall be sealed with the corporate seal of said City. Each of said interest coupons shall be authenticated by the facsimile signature of such Mayor and Clerk of Council. Section 6. The full faith and credit of said City are hereby pledged to secure the payment of said bonds and the interest thereon. Ad valorem taxes on all property subject to taxation by said City shall be levied annually in an amount sufficient to pay said bonds and the interest thereon as the same become due and payable. .- Section 7. 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 ?U3LIC IMPROVEMENT BOND $ $ THE CITY OF MARTINSVILLE (hereinafter referred to as IlCity"), 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 regii3tered owner, the principal sum of FIVE THOUSAND DOLLARS ($5,000) on the first day of May, 1969, and to pay interest thereon from the date of this bond until it i3hall mature at the rate of per Gentum ( %) per annum, payable semi-annually on May 1 and November 1 in each year, upon presentation and surrender 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, 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 M&.rtinsville, 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.