Agenda 03/23/1999 - Laserfiche WebLink

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I "FORM OF NOTE" No. R- $ UNITED STATES OF AMERICA COMMONWEALTH OF VIRGINIA, CITY OF MARTINSVILLE GENERAL OBLIGATION NOTE (ALBERT HARRIS ELEMENTARY SCHOOL PROJECT), SERIES 1999 Registered Holder: Dated: Maturity Date: ,1999 ,2001 Principal Sum: $ Interest Rate: % KNOW ALL MEN BY THESE PRESENTS, that the City of Martinsville, Virginia (hereinafter sometimes referred to as the "City"), a City oft he Commonwealth of Virginia, for value received hereby promises to pay to the registered holder (named above), or assigns, on the Maturity Date (specified above), subject to prior redemption as hereinafier provided, the Principal Sum (specified above) upon presentation and surrender of this Note at the principal corporate office of the Martinsville City Treasurer, Martinsville, Virginia, (the "Paying Agent"), and to pay interest on said Principal Sum, from the date of authentication hereof until the payment of said Principal Sum, at the rate per annum (specified above) payable on the Maturity Date, as follows: Commencing on ,2000 and each and thereafter to the Maturity Date, interest only payments at the rate set forth above, with the final payment due hereunder in the amount of the principal balance outstanding on this Note and interest thereon at the rate set forth above, due and payable in full on or before ,2001. Both principal of and interest on this Note are payable in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts.