The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1878-03-27
AN ACT to provide for the funding Of the
outst anding warrants of the city OF Nlcks-
burg and for other purposes.

AN ACT to provide for the funding of the
outstanding warrants of the city OF Nlcks-
burg, and for other purposes.
SECTION l. Be it enacted by the Legislature
of the State of Mississippi, That the mayor
and aldermen of the city of Nicksburg are
hereby authorized to issue bonds OF sald CITY
to an amount not exceeding forty-nVe
thousand dollars, bearing date OF the
first day of April one thousand elgn'
hundred and seventy eight and payable,
with interest at the rate of i've per centum
per annum on the tirst day of February, one
thousand eight hundred and eighty nine
Said bonds to in such form and OF sucn ne
nom n alton as said mayor and aldermen shal!,
by ordinance prescribe ana the IhIerest
thousand eight hundred and seventy nine ana
annually thereafter, on the first day OF FeDfu-
airy in each year.
| authorized to be issued aforesaid shall be
signed BY the may~r and clerk, and scaled
| With the corporate seal of said city, and when
so executed shall be deposited m the city de -
positorv for safe keeping until disposed OF as
/ hereafter directed.
| SC. s. b it further enacted, Ihat when
/ bonds she'll be deposited as aforesaid, II shall
/ he the duty of the mayor of said city to cause
] a notice to be published in some newspaper OF
/ said CITY tina he will, for period OF sixty
| davs from the date of said notice, exchange
| said bonds At their par value, tef any eNi,
| dancas If the outstanding Indebtedness of said
civ not heretofore funded; and upon deliver
| ing 60 him by any holder of said evidences OF o.
| Indebtedness OF an amount tneIeVl eq1I"A
nor yalue to one or more OF sald bonus, ne
/ sla1I Give to such holder an order on the cit y
| depository for bonds equal IN amount 10 IN
| evidences of Indebtedness so delivered. wnleh
| shall be duty entered upon the books OF me
! 9raosnrer of said city, and cancelled under
| The direction of the mayor and aldermen Oh
| said city. o4+ba ,,ovor
| e Said citv shall be authorized, under the dl-
| rcction os the board of mayor and aldermen;
10 withdraw from the depository, aud to sen sen
far United States currency, at a rate not iess
| tGan A:rbt per centum upon the principal oi
| sold bonds g sufficient amount thereot, ho'
/ exceeding the sum of twentY thouSands
! 10 nav such legal cash obligations as nave
| SereGsfore been incurred by the Gqthoritles o.
said city, Provided, That said cash oougaIio on
| so paid shall not ia the aggregate exceed the
sum o. sixteen thousand dollars
SEC 5. Be it further enacted, Inss 70 d in
| tarest of said bonds, the mayor ana aldermen
! ~ said city are hereby authorized ma reg uireu
| - 49, q specia tax payable In ohl'eu 1A1'e
currency, not 10 sxceed Two tsInh able nroper,y in
| en ma - on1 the reve..1e der4yed from salu
So shall be applied TO the payment - ans ln
! teTsst on said bonds and TO the feiN-t . :;
| thereof and 10 no other purpose WhateTef, an
,ovar any surplus of revenue shall re
| main after the payment OF any lhs.aiIni -,
interest on said bonds, the mayer may auNeL-
| tee for ten DAYS in two or more new staPol,
| rbl;sbed in said city for the proposal TOT sals
| r. the city of said bonds, aud snali Apply &c II
surplus to the purchase OF suen P pon1s TIA
be offered for the lowest prlce; ~ =: ~ =,
Ne nrice paid for said bonds shall In no cas'
| exceed par value. ~. ~.
SIC 8. Be it further ENACTED, Ihat tnt
mavor and aldermen of said city are hereoy
enSressiy prohibited during, the time for whle.
said bonds shall be OUTSTANDING from f fssus ~
~ sssuming new debts or obligations IoF Anu
VI ~, scsonnt Of said city to a larger aggregat'
amount any han NINETY ths board
dollars; and any member q me ;n o0HrV yo y
may no,, r or assume any debt or obligation II
violation ST this SECTION shall BE he g EpdS,e d il
MI m $3.50 caurt of Warren county, and, or
c enr Siction. shall be fined not less than on
hundred nor more than five hundred 1oi laar,
and ;mnrisoned not less than one nor NOR
than siT months, and shall ever thereafter o.
ineiieibie to any Office or employment 9na:
or in connection With the government u s"A'
SEC. I. Be it further enacted, That tbs &c
take effect and be in force from ana sItsr IL
| passage. ,o-o