Minutes 05/13/1969 - Laserfiche WebLink

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. ~ \) TUESDAY MAY 13, 1969 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 substanti- ally the following form: . O'orm of Bond) No. No. UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA CITY OF MARTINSVILLE PUBLIC IMPROVEMENT BOND $ $ THE CITY OF MARTINSVILLE (hereinafter referred to municipal corporation of the Commonwealth of Virginia, hereby promises to pay to the bearer of this bond, or, to the registered owner, the principal sum of as "City"), a for value received if it be registered, 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 shall mature at the rate of per centum ( %) per annum, payable semi-annually on May 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 MElrtinsville, Virginia, or at the Piedmont Trust Bank in the City of M2rtinsville, 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 owned 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