The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1897-08-27

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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 ordering said
election: and whereas, the amount ct
said bonds, tO-wit: twenty-five thOus-
and 1925, 001) dollars exceed seven (7)
| per cent Of the taxable property of
said town of Scranton, as then as
Sessed, it was ordered by said res0lu-
ton that IN election be held on July
Goth, 1897, for the purpose uf obtain
ing the authority OF the qualified cleo
tors in said town for the issuance of
said twenty-five thousand (S25, 000)
dollars OF bonds: and whereas, said
election was held pursuant to said
resolution and the general laws of the |
State Of Mississippi governing NUM-
cipal elections, and resulted, as will
appear by the returns OF the Com. |
mlssionerS holding the same, and by
the resolution Of the Mayor and Board
Of Aldermen Of said town ut the speci-
fled meeting thereof held July 2lst,
1897, in ~canvasSing the returns and de-
claring the result thereof. in more
than t%wo-thirds (2-3ds) Of the quail
fed electors uf said town voting in
favor Of issuing said bonds. In accord
ance 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
tcnance, ownership and operation by
the town OF Scranton Of a complete
system of water works, for supplying
and distributing throughout the town
Of Scranton an adequate supply OF
water, to be used in extinguishing
fires and preventing the spread there
OF; and also for selling and supplying
water to the inhabitants OF the town
ton, completion and equipment Of an
electric light plant to furnish lights
for lighting the streets of the town
and hiring and selling lights to inhab-
itants. Now, therefore, for the pur-
pose OF raising money with which to
purchase the necessary material and
appliances, to pay for the erection,
construction and equipment Of said
water works and electric light plant
and appliances, be II ordained by the
Mayor and Board OF Aldermen of the
town Of Scranton, in regular meeting
assembled, That said town Of Scran.
ton do, pursuant to the provisions Of
Chapter SO Of the Annotated Code OF
Mississippi, and to the authorization
by the qualified electors Of said town
aforesaid, issue twenty five thousand
($25, 000) dollars of bonds of said town,
| tim enid hands m hnnr infnpnct nj fln
rate Of six cents Is per cent? per an
Tnm, payable annually on the LIST day
of September In each year, and said
bonds to mature twenty years after
date: provided, however. that said
town shall have the option Of paying
the same at any time after five years
from date OF issue, the said bonds to
be issued in denominations Of $500
each. and to be numbered from | to so,
inclusive, and TO he in the following
form, tO-Wit:
STATE OF MISSISSIPPI,
Six per cent Water Works aud Electric Light
Bond,
TOWN OF SCRANTON.
Know all men by these presents:
That the town Of Scranton. Il NUM-
cipal corporation of the State Of Mis-.
Sissippi, is indebted to and will pay
tO--------. or bearer, the sum OF
five hundred $500 dollars, in lawful
money of the United States Of Amer
lea, together with interest thereon at
the rate Of six (6) per cent per annum
from date hereof, said interest paya-
bic annually on the lst day of Septem-
Der OF each and every year thereafter,
at the United States National Bank
of New York, in the city Of New York,
N. Y, on presentation Of the coupons
hereto annexed, as they respectively
become due, until the payment Of the
principal sum, which shall Le due and
payable twenty years after the date
hereof, at the bank aforesaid, o-wit:
on the lst day of September, 1917. Sub.
ject, however, to be due and payable
after five years from the date hereof,
at the option OF the town of Scranton.
This bond is one Of a series Of fifty
bonds Of like tenor, date and amount,
aggregating twenty-five thousand($25,-
000) dollars, numbered from one to ff-
ty, inclusive, and is issued pursuant
to law and under and by authority Of
Chapter 50 Of the Annotated Code
QS92) Of the State Of Mississippi, which
Is the charter of the town OF Scranton,
and is authorized by an ordinance Of
said town duly adopted and approved
on the Bird day Of August, 1897, and is
sanctioned by a %twO-thirds majority
vote OF the qualified electors Of said
town as determined at an election
duly called and held in said town, on
the Goth day of July, 1897, and is is
sued for the sole purpose OF providing
funds for the purchase, construction,
completion and equipment Of a sys-
TEN of water works and electric lights
for the use Of the Inhabitants OF said
town. And the said town Of Scran.
ton does hereby covenant and agree
with the holder of this bond, that the
money derived from the sale thereof
shall be applied to the purchase, con-
struction, completion and equipment
OF a system of water works and electric
lights in and for said town, and that
the faith and credit of said town are
inviolably pledged for the payment OF
all interest and principal of this and
other bonds OF said series, 1t Is hereby
certified and recited, that all acts,
conditions and things, required to be
done precedent to, and in the issuance
OF said bonds, has been properly done,
happened and performed, in regular
and due form, as required by law.
In witness whereof this bond is
sealed with the corporate seal OF said
town Of Scranton, and signed by the
Mayor OF said town, and countersign.
cd by the Clerk of said town, and the
interest coupons hereto attached, ex.
ecuted with the fac smile signature
OF said officers as authorized and di.
rectcd by this ordinance this---day
Of----, 1897.
That attached to said bonds shall be
twenty interest coupons for the sum
Of $50 each, m maturing on the first
day OF September, 1893, and n ma
turing annually thereafter on the first
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