The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1882-04-26

alton and improvement Of the streets of said
city: and said bonds, when so issued, shall
be expressed in the body thereof as, water
supply, sewerage and street Improvement
bonds" and said bonds may be issued in the
usual and ordinary form of similar bonds,
or other negotiable securities. and may bear
a rate of interest not to exceed six per cent.
per annum, to be payable annually; pr0ci-
ded, hoeceter, that before any such bonds
shall be issued by said mayor and boards Of
councllmen and aldermen, this act shall be
published III one or more newspapers printed
in said city of Meridian for period Of thirty
days, and with the publication thereof the
city clerk Of said city, by the order of said
mayor and board, shall give notice by pub
LEGATION III the same newspaper or neWspa-
pers, for like space of time, for an election
to be held in said city to determine whether
such bonds shall be issued or not, as herein
provided; and no such bonds shall be issued
unless at such election majority of the
legally qualified and properly registered
voters residing in said city shall vote in
favor of the issuance of the same; and such
election shall be conducted in all respects
as other elections are now required to be
held under the terms and provisions of the
charter of said city; and said mayor and
boards of councilmen and aldermen, in
ordering such election may prescribe the
form in which the question as to the issu-
ance of such bonds shall be submitted to
the voters of said city.
SEC. 2 Be Il FURTHER enacted. That any
and all bonds of said city of Meridian
which may be issued, under the power and
authority conferred by this act, shall not
run for longer period than twenty five
years from the date of the issuance thereof,
and such bonds may be issued in such
amounts, not exceeding the limit herein pro-
vided, and at such time or times as said
mayor and boards Of councilmen and alder
men may, by ordinance or joint resolution,
prescribe; and all such bonds shall, before
the issuance thereof, be signed by the mayor
of said city. and CounterSigned by the city
clerk, and shall have affixed thereto tie
corporate seal of said city; and said bonds
may also have attached thereto interest
coupons expressing the annual interest
accruing upon such bonds, which may be
detached therefrom by the holders thereof,
as said interest may become due and paya-
BILE: and said mayor and boards of council
men and aldermen may fix and prescribe
the place OF the payment, at maturity, OF |
such bonds as may be issued in pursuance |
of this act, and of the annually accruing |
interest thereon and the place of such pay /
ment of principal and interest shall be |
Endorsed on such bonds, or expressed in the |
same when issued.
SEC 3. Be 1t FURTHER eHactc7, That in
order to provide for the payment of such |
bonds as may be issued, under and in pur-
suance of the power conferred by this act, at
the maturity Of the same, and Of the annu-
ally accruing interest thereon, the mayor
and boards Of councilmen and aldermen of !
said city of Meridian, shall be fully author
lied and empowered and it shall be their |
duty, to levy a sufficient tax upon all real |
and personal property subject to taxation
in said city to meet such aCCruing interest, /
and to provide a sinking fund that shall be |
sufficient to pay On and fully discharge the
principal of said bonds at the maturity Of
the same, and according to the tenor and
effect thereof
SEC. 4. Be Il tlA'thel enacte3, That in
order TO enable the said mayor and boards of |
cOuncilmen and aldermen Of said city OF
Meridian to fully carry into effect the objects
and purposes Of this act, they shall, for said
city, have the power to acquire and hold
by purchase, donation, or otherwise, q sui
ficiency of real estate and other property /
necessary to that end; and they shall be,
and are hereby authorized and empowered
to purchase and hold the right to use, in
procuring a supply of water for said city
and the Inhabitants thereof, any stream or
streams of water, and any spring or springs
or other sources of water supply, in said
Lauderdale county, which shall not interfere
with the necessary use and supply OF water
for private purposes and may construct on
or about the same the necessary reservoir,
resorvois, stand-pipeA or other means for
collecting a holding such water; and to
lay pipes from the same into the said city
for conducting water for supplying the
inhabitants thereof and to acquire and hold
the necessary land for that purpose and in
case the owner, or owners Of any such land
upon which such spring or springs, or other
sources of water may be, or through which
such stream or streams Of water may flow,
or through which it may be necessary to lay
such water-pipes shall not agree with said
Of said city for a surrender or
sale of the same, or the right to use the
same it shall then be lawful to refer and
submit the question of compensation for the
same to two or more suitable and disinter-
ested free holders of said Lauderdale county,
to be mutually chosen as arbitrators, for the
assessment of such compensation or dam
ages, whose award shall be final and in
case of disagreement such arbitrator shall
be empowered to select some equally quail
fed and disinterested person to act as
umpire, and whose decision shall then be
final, and upon the payment by said city
Of such damages so assessed, it shall have
the right and be empowered through its
proper officers to enter upon and appro-
pirate such real and other property and
have full right to use the same for said pur-
poses as hereinbefore eXpressed and pro,
1ided, that such owner or owners of such
land or other property shall refuse to con-
sent to any such submission to arbitrators
for the assessment Of such damages, then it
shall be lawful for said city Of Meridian to
apply through and by the mayor and said
boards OF councllmen and aldermen Of said
tO nj no cir oII.F of bn