The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1897-08-20

accordance with the spirit ana pro-
visions of the resolution ordering said
election; and whereas, the amount Of
said bonds, to-wit: twenty-five thous-
and 1925, 600 dollars exceed seven (71I
per cent OF the taxable property OF
said town of Scranton, as then as
sessed, it was ordered by said resOlu.
ton that an election be held on July |
goth, 1897, for the purpose VI obtain.
ing the authority of the qualified cleo
tors in said town for the issuance Of
said twenty-five thousand ($25, 600
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
missioncrs holding the same, and by
the resolution OF the Mayor and Board
of Aldermen OF said town at the Speci-
fed meeting thereof held July 2lst,
1897, in canvasslng the eturns and de-
claring the result thereof. in more
than two-thirds t2-3ds) OF the quail.
fed electors Of said town voting in
favor OF issuing said bonds, in accord.
ancc with the spirit, intent and pro-
| NlSlDIiS vi SdIu ICS'IIUUIblo u July ouus |
1897; and whereas, this Board has this
day adopted ordinances for the pur-
chase, erection, construction. main
tenance, 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
for general use; and also for the erec.
tiOn, 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 it ordained by the
Mayor and Board OF Aldermen Of the
town OF Scranton, in regular meeting
assembled, That said town If 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
(ss5, OOOj dollars OF bonds Of said town,
the said bonds to bear interest at the
rate Of six cents 70 per cent? per an
!. mum, payable annually on the lst 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 be In the following
form, tO-wit:
i STATE OF MISSISSIPPI.
Six per cent Water Works and Electric Light
! Bond,
TOWN OF SCRANTON.
, Know all men by these presents:
] cipal corporation Of the State Of Mis-.
sissippi, is indebted to and will pay
: O--------, or bearer, the sum OF
five hundred $500 dollars, in lawful
money of the United States OF Amer.
i lea, together with interest thereon at
the rate OF six 10y per cent per annum
from date hereof, said interest paya-
Bile annually on the lst day OF Septem-
Der OF each and every year thereafter,
at the United States National Bank
o of New York, in the city of New York,
d N. Y, on presentation OF the coupons
n hereto annexed, as they respectively
become due, until the payment of the
Il principal sum, which shall be due and
payable twenty years after the date
hereof, mt the bank aforesaid, tO.wit,
:, on the LIST day of September, 1917. sub.
), jcct, however, to be due and payable
II after five. years from the date hereof
at the OptiOn Of the town of Scranton
p This bond isaone OF a series OF fifty
$ bonds of like tenor, date and amount
u aggrcgating twenty. five %thousand($25,
" OOO) dollars, numbered from one to ff
ty, inclusive, and is issued pursuan,
u to law and under and by authority o
u. ;" Chapter 90 OF the Annotated Cod
v, 1882 of the State of Mississippi, which
' is the charter of the town of Scranton
u and is authorized by an ordinance o
u T. said town duly adopted and approved
~ on the Bird day OF August, 1897, and Il
y, sanctioned by a two-thirds maj0rit.
~ vote OF the qualified electors OF salt
70 town as determined at an election
duly called and held In said town, OF
70 the 10th day of July, 1897, and Is Is
- sued for the sole purpose Of prOvidini
y funds for the purchase, construction