21-130 - Form of bonds. - Virginia Statutes

§ 21-130. Form of bonds.

Such bonds may be either registered or with coupons attached, as thegoverning body may prescribe, and coupon bonds may be registerable as toprincipal, or as to principal and interest, at the option of the holder,under such rules and regulations as may be prescribed by the governing body.The bonds shall be signed by the chairman and countersigned by the clerk ofthe governing body under its seal; shall be in denominations of $100 or somemultiple thereof; shall bear interest at a rate not exceeding six percent perannum, payable semi-annually, both principal and interest to be payable atsuch place or places as may be determined by the governing body, and shall bepayable not exceeding thirty-four years from the date thereof, but may, inthe discretion of the governing body, be made redeemable at such time ortimes within such period or periods and upon such notice as the governingbody may prescribe and stipulate upon the face of the bond when issued.

(1946, p. 182; Michie Suppl. 1946, § 1560z6.)