University of Virginia Library

[Form of Front of Bond]
United States Of America
Commonwealth Of Virginia
THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA
FIXED/ADJUSTABLE RATE HOSPITAL REVENUE BOND
(SERIES B)

  

No.__________	$__________
MATURITY DATE	CUSIP

The Rector and Visitors of the University of Virginia (herein sometimes called the "University"), an educational institution and a public body and governmental instrumentality of the Commonwealth of Virginia, for value received, hereby promises to pay, solely from the sources and in the manner hereinafter provided, to or registered assigns, on the maturity date set forth above (except as hereinafter provided with respect to Bank Bonds, as defined herein) (or earlier as hereinafter set forth), upon the presentation and surrender hereof at the principal corporate trust office of Bank of Virginia Trust Company, Richmond, Virginia (the "Paying Agent"), the principal sum of DOLLARS. The University also promises to pay, solely from such sources, from the interest payment date next preceding the date on which it is authenticated unless it is authenticated on an interest payment date, in which event it shall bear interest from such date, or it is authenticated prior to June 1, 1985, in which event it shall bear interest from its date, payable (except as hereinafter provided with respect to any Bank Bonds) on June 1, 1985 and semi-annually thereafter on June 1 and December 1 of each year,

interest thereon at the rates per annum determined as hereinafter set forth until the principal sum hereof is paid. The interest so payable and punctually paid or duly provided for, on any interest payment date, will, as provided in the Resolution hereinafter referred to, be paid to the person in whose name this Bond is registered at the close of business on the Record Date for such interest, which shall be the 15th day of the calendar month next preceding such interest payment date or if such day is not a business day, the next succeeding business day. Such payment of interest on any Bond other than a Bank Bond shall be made by check mailed to the holder at his address as it appears on the bond registration books maintained by the Paying Agent. The payment of interest due on any Bank Bond shall be made on the due date thereof in immediately available funds in accordance with the terms of the Reimbursement Agreement (as defined herein). All such payments shall be made in such lawful money of the United States of America as at the time of payment is legal tender for payment of public and private debts.

This Bond and the interest hereon are limited obligations of the University, and the University shall not be obligated to pay the principal of or interest on this Bond except from the Net Revenues of the University of Virginia Hospital all as provided in the Resolution and, as to principal only, the proceeds of drawings by the Paying Agent under the Credit Facility (as defined herein). This Bond and the interest hereon shall not be deemed to constitute a debt or liability of the Commonwealth of Virginia, legal, moral or otherwise. Neither the Commonwealth of Virginia nor the University shall be obligated to pay the principal of or interest on this Bond or other costs incident thereto except from the sources noted above pledged or provided therefor, and neither the faith and credit nor the taxing power of the Commonwealth of Virginia nor any other revenues or funds of the University are pledged to the payment of the principal of or interest on this Bond or other costs incident thereto.

Reference is hereby made to the further provisions of this Bond set forth on the reverse side hereof and such further provisions shall for all purposes have the same effect as if set forth on the front side hereof.

All acts, conditions and things required by the Constitution and laws of the Commonwealth of Virginia and by the rules and regulations of the Board of Visitors of the University to happen, exist and be performed precedent to and in the issuance of this Bond have happened, exist and have been performed as so required.

IN WITNESS WHEREOF, The Rector and Visitors of the University of Virginia has caused this Bond to be issued in its name and caused this Bond to bear the facsimile signatures of its Rector

and its Vice President for Business and Finance, and its official seal to be impressed or imprinted hereon, all as of the 1st day of November, 1984.