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TABLE OF CONTENTS <br /> <br />CITY OF MARTINSVILLE, VIRGINIA <br /> <br /> AN ORDINANCE AUTHORIZING THE ISSUANCE OF UP TO <br /> $2,000,000 PRINCIPAL AMOUNT OF A GENERAL OBLIGATION NOTE <br /> OF THE CITY OF MARTINSVILLE, VIRGINIA FOR PURPOSES OF <br />ASSISTING IN REDEVELOPMENT PROJECTS AND GENERAL PUBLIC <br />PROPERTY IMPROVEMENTS, AND PROVIDING FOR THE FORM, DETAILS AND <br />PAYMENT THEREOF <br /> <br />Adopted on April 28, 1998 <br /> <br />Page <br /> <br />Section 1 -. .......................................................................................................................Definitions1 <br />Section 2 -. ..........................................................................................Findings and Determinations3 <br />Section 3 ~. ..................................................................Authorization, Form and Details of the Note 4 <br />Section 4 -. ..............................................................................................Creation of Proceeds Fund1 ~ <br />Section 5 .-. .........................................................................................Payments into Proceeds Fund12 <br />Section 6 -. ....................................................................................................Creation of Note Fund12 <br />Section 7 -. ...................................................................................................Accounts Within Funds12 <br />Section 8 -. ........................................................................................................Investment of Funds12 <br />Section 9 -. ......................................................................................................................Defeasance13 <br />Section 10 -. ........................................................................................................General Obligation13 <br />Section 11 -. ............................................................................................................Event of Default13 <br />Sectinn 12 -. ..........................................................................................Enforcement by Noteholder14 <br />Section 13 -. ...................................................................................Modification of Note Ordinance 15 <br />Section 14 -. ..........................................................................Application of Proceeds; S ale of Note 15 <br /> <br />Section 15 - No Arbitra <br /> <br />Section 16 -. ..........................................................................................Further Actions Authorized17 <br />Section 17 -. ......................................................................................~ .............lnvalidity of Sections17 <br /> <br />Section 18 -. ......................................................................Headings of Sections, Table of Contents 17 <br /> <br /> <br />