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of in<kbb:dne~s; and that pwvision 1~ bcctt ma~e for eke pa~nent of the pnncipal of, and
<br />irtte~ust on, t~s Note ~s provided in the Ordinance.
<br />
<br /> No registra~on, tran.~t'a or exchange of tNs Note s~ll be pennitted v~L~m thirty (30)
<br />~ofthelvlatorityDatcotthed~teofptq~ncntotteden:~onoftl~Notc.
<br />
<br />punuanltoandincea~lianccvAetekeCeusti~ionasdlaw~ofekeCemmoaweul~ofVitglnia,
<br />including ~c C~ty (:ha~e~ of eke Ci~ of Mastinsvilk, V'n'gjnia ann (:~a~a 26, Ti0e ! 5.2 of eke
<br />Code ofVitginia of tg~O, as amended, the samc bdag eke l~btic Finance Act, and tl~
<br />Otxlinsntx~dulyadopted.dn~-saklCbapterbyekeCi~CeunciloaJune27,2000amllulY2S,
<br />2000 (together, eke 'Ot~nance"}-
<br />
<br /> This No~e shall bear interest liom the date on which ~ Note is aut~emicatod.
<br />on t~s ~oto shall be computed on the basis of 30-~ay months and 360-day yea.
<br />
<br /> T~is Note is traosferablc only upon the re~sLration books kept at eke or~ce of the
<br /> P, egistn~ by the registered holdff hereof, or by h~s duly autbo~sed aaorney, upon s~t~a of
<br /> ~ Note (togotl~r with a wriUen instzument of transfer, satesfactor7 in form to ~ P,e~sttar,
<br /> duly cxec~tod by ~ ~egiststcd homer or his duly anthocized attorney, which m~y be the fonn
<br /> endorse~ begun) and subject to the limitations and upon payment of the cha~ges, if~y, as
<br /> ~ovlde~hi~lc OTdb~lnce, and theteupon as lxovlde~hi the Otdinance anew Note, lnthc
<br /> a~g:regate I~ucilxJ a~ount and of the same setie~ inte~ ate and mat~ity as tJ~ Note
<br /> su~Tende:rca. shallbe issu~d. hi exchange tha~fot. TheCity aml~-,c KegjsWars.~aildeemand
<br /> Iz~a~thelnzso~inwhoscnamctbisNotoissegi~tet~Lastheabsoluleovalahercoffottbe
<br /> Intlx)se of tecdving payat of, or on acceunt of, ~e ptincipul had'of and inlaesl. due bacon
<br /> and fct zil other parrx~e~ v/natsoever.
<br />
<br /> The Note is sabj~ct to prepaymatt et redemption prior to maturity at tt~ eptinn of
<br /> City Coundl at anytln~inwholeos inFan aslmdtedby ekcte~T~s hct¢of, alat~lcusPdon Pnce
<br /> ~ to 100% of eke principal amount of Nnte to be redec~d, plus intere~ ac4~ued to the
<br /> tckn~ion dak, ul~ou seven (7) da~s no~e to theNoteboMet. l'be~.,o~ofe~e Hotd~baeof
<br /> slall be prlma facie evidence of eke amount ofprlndpsl and intere~ owed
<br />
<br /> THIS NOTE I$ A GENERAL OBLIGATION OF THE CITY FOR THE
<br /> PAYMENT OF WHICH THE CITY'S FULL FAITH AND CREDIT ARE
<br /> IRREVOCABLY PLEDGED. THE CITY COUNCIL IS AUTHORIT, D AND
<br /> REQUIP~D TO LEVY AND COLLECT ANNUALLY AT THE SALVE TIME A~D IN
<br /> THE SAME MANNER AS OTI{'ER TAXES OF THE CITY ARE ASSESSED, LEVIED
<br /> AND COLLECTED, A TAX UPON ALL TAXA3LE PROPERTY WITHI~ THE CITY,
<br /> OVER AND A3OVE ALL OTHER TAXES AUIl{ORIZED OR IL~!!TED BY LAW
<br /> AND WITHOUT LIMITATION AS TO !b'kTE OR AMOUNT, SUFFICIENT TO PAY
<br /> ~¥HEN DUE THE P~INCIFAL OF AND PREIV[IUM~ IF AI~', A~D T~rfEREST ON
<br />
<br />THE NOTE, TO THE EXTENT OTHER FUNDS OF THE CITY ARE NOT LAWI~LLY
<br />AVAILABLE AND AppROpRXATED FOR SUCH pUP.POSE.
<br /> Refert:nceishe~d~ymadetotheOrdin~nc~andtoallofthepew,is~on~fll~eofto~ddc~
<br />any bold~ ofd~s Note b~his icceptance he~of haeby asssuts, fo~ckenifio~s of terms; tlie
<br />dus~rip6onofandnatotcandes:t~ntoftheseo~t,/fotek~Note~ekeomdltionsuPonwhiehthe
<br />
<br />Foviaionsoftl~Ordinance.
<br />
<br /> This Note chall not be valid or obliptor/for any purpose unless the certificate of
<br />an1~ntkation ~ h~ been duly executed by the Regis~,*~t ~nd the dato ~f s~ttb. en~catxon
<br />insettea heceon.
<br />
<br /> IN WITN'E$S '~IEREOF, ~e Ci0' of Me~tjnsville, Virginia, by its City Council
<br />caused l~s Note to be s~gned by the Mayor and atle~ted by the CteTk of said Cotmc~l, by the~
<br />manful or facsimile signazuses, a,-xl its sea3 to be imptesse~ or intotinted hemcon, and this Note to
<br />be dated as set forth above.
<br />
<br />(SEAL)
<br />
<br />Clerk of the City Coum:il
<br />
<br />MaWr of the City of Maainsvfile
<br />
<br /> CERTIFICATE OF AUTHENTICATION
<br />
<br />This Note is ~e Note clench'bed hi the within-mentiot~ Ordinance.
<br />
<br /> ~G~ - C~ OF M~TINSVIL~
<br />
<br />By:
<br /> Mavtinsvillc City Tteasut~
<br />
<br />DATE OF AUTHENTICATIOP~:
<br />
<br /> [FOP, M OF ASSIGNMENT]
<br />
<br /> For valoe receded, ~e unde~igned h~by sells, assigns, and ~ansfas unto
<br />
<br /> P[eaz insets secal ~ nm~be~ ot ol~t lax iden~e.~tion number of a~aec:
<br />f
<br /> N~me and eddre~ of asaign~, incl~:ling zip code:
<br />
<br />me~ione~ Note and hereby it~cvocebly cx~Xit~tes and e~points
<br />
<br />office of the within-m~tloned Regls~ra~ with the full powa of substitntioa hi
<br />premises.
<br />
<br />DATED:
<br />
<br />NOTE: The s~guato~e to tt~s asaignmem must ~ wi~ ~ ~e of ~ ~ ~1~
<br />~ ~ ~u~ ~ ~e ~ of ~c ~ Note h ~ ~cu]~, ~ ~t~fion or
<br />~ or ~y ~ge wh~.
<br />
<br />Signanise Guaranteed
<br />
<br />NOTICE: Signa~te(s) must b~ gu~anteed by ·
<br />metebet firm of~ N~ Y~ St~k Exc~e ~ a
<br />~m~ia] b~k or ~ ~y.
<br />
<br />Se~ima 4 Crea6on of proceeds Funds
<br />
<br /> 11m. eisher~oye~tablishedaRx~stfundtobedesignaledeke*ProceedsFund, CitYof
<br />Mat~iusvilic Genc~ Oblig~i4z Note (Landfffi Impwvanem l>mject), Series 2000:
<br />
<br />~ 5 !~vme~l~ into Fnx, eeds Fantin
<br /> Allfandsrace~vedft~2ffaelx'o~:ze~sofeaesaleofekcNo~eSl~HbedePusiledhitoth'e
<br />
<br />Pm~hase Agteen~nt and applicable law.
<br /> CrentlenofNoeehnd
<br />
<br /> TKete is hez~by esteblished a trot ~ to be desiS:hated eke "Note Fund> City of
<br />Mar~nsvilLe Gtaeral Obligation Note (LandC~l Tmprovem~t PToie~), Se~us 2000= i~ v~ch
<br />Note Fund !here is hadoy establisheel an Intent Account and a pr:,acipul Account. AS and
<br />whal Tacelved, monks ~ull be deposited into t~e Note F~md, and payments fTom eke Note Fund.
<br />shall be made as follows:
<br />
<br /> a. to the Interest Account in th~ Note Fun~ subject to cted~ if any, for proceeds of
<br /> t~ Note ~k~,osited ekerein, on the Business Day pr~r to each payment Date, an amount equal to
<br /> the amount of hiretest that will become due on the Note on the nexl succeeding paytncnt Dart.
<br /> end
<br />
<br /> b. to the lYncit~l ACcount hi the Note Fund on eke liusiness Day ptio~ to the
<br /> Matusily Dale an amount equal to the Windpat that is requitc~ to be deposite~ into tl~ P~lcipzi
<br /> Acco~ll hi order lo pay the pl~Dcipai due on the Nole on the Maturity Dale.
<br />
<br /> $~ctlou 7 Accounts Withhi Funds
<br />
<br /> Any fund or account created by ll~s Ox~'nuce n~ty contain such accoun~ or subaccounts
<br /> a~ may be necessary for the otdedy admini~-tratiou thereof.
<br />
<br /> SeeSlea Slnvestn~ent of Funds
<br />
<br /> a. The City shall separaely hivest attd reinvest any monie~ hdd in the Rinds
<br /> es~bllshed by 1his O~inancc in invusm~nts v/aic~ ~ould n~twe in amou~ds an~ at times so that
<br /> t~pdncipul of, preminm, ifany,~uxl imetest on. the Note can be Paid when due~mamrity
<br /> eketee~
<br />
<br /> im,ednkentsundet(X~J~ptotlgofTide2JofthcCodeofViq~.iniaoflg~0, as amended (Sc~ti°n
<br /> 2.1-327 e sen.) and wbir. haettotherwisehicemptiancewishSec(ionlS-2"2619°fekeAnt'
<br />
<br />9 L0
<br />
<br />
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