The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1897-08-13

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An Ordinance entitled an ordinance
providing for the issuance Of $4,000
Of six per cent (6) twcnty-year bonds
by the town Of Scranton, for the
sole purpose Of raising funds with
which to purchase, erect and c0n-
struct a complete system ~ water
works and electric lights, to be
maintained. owned and operated by
the town Of Scranton.
Whereas, At a regular meeting OF
the Mayor aud Board OF Aldermen OF
the town OF Scranton, held on July
9Th, 1897, a resolution was adopted by
said Mayor and Board OF Aldermen,
providing for the issuance Uf bonds OF
the town OF Scranton To the extent OF
twenty-five thousand dollars 1875, 000),
said bonds to be issued In denOmina-
tiOns Of $500 each and 70 run for twen-
" years from date of issuance, but TO
be redeemable after five years at the
option OF the town OF Scranton, ana to
bear interest at six (6) per cent per an
mum, payable annually; the said bonds
to be issued for the sole purpose Of rails
ing money with which to purchase,
erect and complete a water works
plant for providing and distributing
an adequate supply Of water through
out the town of Scranton, for use In
extlnguislling fires and preventing the
spread thereof; and also for the pur.
pose OF purchasing, constructing and
equipping the necessary plant and ap'
pliances OF a water works system for
the sale of water to the Inhabitants OF
the said town for general use, 10 case
such scheme should be authorized by
the qualified electors Of said town;
and also for the purpose OF purcnas'
ing, erecting, eQuipping and complet.
ing an electric light system for said
town for lighting the streets OF said
town, and selling or hiring lights to
the inhabitants; said water works and
electric light plant to be constructed,
erected and equipped in accordance
with plans and specifications prepared
by RObt. r. Zell, civil engineer, then
before SAID Board, and to be main
tanned, ow ned and operated by said
town Of Scranton; and whereas, a ma.
jority Of the qualified electors OF said
town did on the Goth day OF July, 1897,
at an election held for that purpose,
authorize the Mayor and Board OF AL.
dermen of said town to purchase,
erect, construct, equip, complete.
maintain and operate a system OF
water works for general purposes, In
accordance with the spirit and pro-
visions of the resolution orderingsaid
election; and whereas, the amount ct
said bonds, to-wit: twenty-five thous.
and 1926, OO0) dollars exceed seven ~
per cent Of the taxable property OF
said town of Scranton, as then az.
sessed, it was ordered by said resOlu.
ton that an election be held on July
goth, 1897, for the purpose VI obtain
ing the auth6ffty'of the qualified cleo
tors in said town for the issuance OF
said twenty. five thousand $25,00 O
dollars of bonds: and whereas, said
election was held pursuant to said
resolution and the general laws of the
State Of Mississippi governing mum,
cipal elections, and resulted, as Will
appear by the returns OF the Com
missioners holding the same, and by
the resolution OF the Mayor and Board
of Aldermen of said town mt the Specl'
fed meeting thereof held July 2lst,
1897, In %canvassing the returns and de-
claring the result thereof. in more
than twO-thirds (2-3dS) Of the quail
fed electors Vt said town voting in
favor Of issuing said bonds. in accord
ancc with the spirit, intent and pro
visions of said resolutions Of July 9th,
1897; and whereas, this Board has this
day adopted ordinances for the pur
! chase, erection, construction, main
%tenance, ownership and operation b,
the town of Scranton OF a complete
system of water works, for supplying
and distributing throughout the tOwr
nf Scranton an adequate supply o
water, to he used in ~cxtinguisllinl
fires and preventing the spread there
Of; and also for selling and supplying
water to the inhabitants OF the towI
for general use; and also for the cree
ton, completion and equipment OF al
electric light plant to furnish light
for lighting the streets of the towI
and hiring and selling lights to inhab
itants. Now, therefore, for the pur
pose of raising money with which tt
purchase the necessary material ant
appliances, to pay for the erection
construction and equipment Of sait
water works and electric light plan
!. and appliances, be 1t ordained by thu
Mayor and Board OF Aldermen OF tn
, town Of Scranton, In regular meeting
assembled, That said town Of Scran
ton do, purSuantto the provisions o
Chapter 90 of the Annotated Code 0
; Mississippi, and to the authorization
, by the qualified electors of said tow
aforesaid, issue twenty-five THOUSAND
, $3.50 OO) dollars OF bonds Of said town
. the said bonds to bear interest at til
, rate OF six cents e per cent? per an
: nun, payable annually on the lst da
; of September In each year, and sal,
bonds to mature twenty years afte
; date: provided, however. that sal
y town shall have the option Of payin
the same at any time after five year
: from date OF Issue, the said bonds 7
: be issued In denominations OF 800
: each. and to be numbered from | to 81
!. inclusive, and to be 10 the folIOwin
i. form, tO-wit:
i. STATE OF MISSISSIPPI.
1907. 1911
= Six per cent Water Works aud Electric Ligl
Bond,
l.. = TOWN OF SCRANTON.
Z Know all men by these presents
q That the town Of Scranton, a mum
cipal corporation of the State OF MI
sissippi, Is indebted to- and will pa
= to--------. or bearer, the sum I
y five hundred $500 dollars, In lawf'
9 money of the United States OF Ame
= lea, together with interest thereon
y the rate OF six (6) per cent per annul
T. from date hereof, said Interest pay
bic annually on the lstday OF Septer
Der Of each and every year thereafte
e at the United States National Ban
I'd OF New York, 10 the city OF New Yor
N N. Y, on presentation OF the coupon
/. hereto annexsd, as they respective
I'd become due, until the payment OFT
b. principal sum, which shall be due 81