Minutes 06/19/1953 - Laserfiche WebLink

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/- /"""'-"'" r- IP o ll'l M ... ;;; 0:: o '" i ~ ~ ~ ] .S ~ o "" 1 ~:~ (0 ~~ ~ i ;.; i Q ~ 0;: " .~ o E- o w 'J o ;;; u " - -;; ~ LHW...6/12/53-6c. Q.!lX Q~ !1f:.BI!E2Y:!1~!, Y.!B~!liI! WHEREAS, the Cotmcil desires to make further provision for the issuance of the $155,000 Electric System Improvement Bonds Which are to be issued pursuant to the ordinance adopted by the Council on March 13, 1953; NOW, THEREFOBE, BE IT BESOLVED by the Councilor the City of Martinsvi11e as follows: (1) Both principal of and interest on said bonds shall be payable at the principal office of The National City Bank or New York, in the Borough of Manhattan, City and state of New York, or, at the option of the holder, at The First National Bank in the City or Martinsville, Virginia, or at the Piedmont Trust Bank in the City or Martinsville, Virginia, in any coin or currency of the United States of America which at the time or payment is legal tender for the payment of public and private debts. (2) Said bonds shall be coupon bonds, without privilege of regis~ tration. The corporate seal of the City shall be arfixed to or impressed upon each of said bonds and each of said bonds shall be signed by the Mayor of said City and shall be attested by its Clerk or Council. Each of the interest coupons representing the interest payable on such bonds shall be authenticated by the facsimile signatures or such Mayor and Clerk of Council. (3) Said bonds and the interest coupons representing the interest payable thereon shall be in substantially the following form: (Form of Bond) No. No. UNITED STATES OF AM!m.ICA STATE OF VIRGINIA CITY OF HARTINSVILLE ELECTRIC SYSTEM D1PROVEMENT BOND $1,000 $1,000 CITY OF MARTINSVIlLE (hereinafter referred to as "Cityn), a municipal corporation of the State of Virginia, hereby acknowledges itself indebted and, for value received, promises to pay to the bearer of this bond, the sum of ONE THOOSAND DOLIARS ($1.000) on July 1, 19_, and to pay interest thereon from the date of this bond until it shall mature at the rate of - per centum __ ( 1,) per annum, payable semi...annually on January 1 and July 1 in each year, upon presentation and surrender of the annexed coupons there- for, as they severally become due. Both principal of and interest on this bond will be paid at the principal office of The National City Bank of New York, in the Borough of Manhattan, City and State of New York, or, at the option of the holder, at The First National Bank in the City of Martinsville, Virginia, or at the piedmont Trust Bank in the City of Martinsville, L ~_ _..__""...."'''T "of" t.he United States of America which at