The Bolivar County Democrat. (Rosedale, Miss.) 1887-1969, 1902-03-08

we Teprouucc tnS 'oiiOWufS Hct, iS-
Gently passed by ths legislature, for the
information of our citizens. 1t will be
seen from the amendment that, in addi-
tion to the authority to issue bonds for
waterworks and sewerage, the town
council is granted the power to.issue
bonds to erect school building. This
is a wise provision, and while advantage
may not be taken of the act for several
years, yet the dav will come when such
issue will be absolutely necessary. Be
low will be found the amendment in full
AN ACT to amend the charter of the
town Of Rosedale, so as to authorize
the mayor and town council of said
town to issue upon certain conditions
the bonds or other obligations of said
town not to exceed in amount includ-
ing all outstanding bonds, seven per
centum of the assessed value of the
said town, as shown by the assessment
rolls thereof, for the purpose of raising
money tor the purchase of land and
the erection of school buildings there
OH, for the erection, providing or pur
chase of waterworks, the sinking Of
artesian wells, the establishment of q
sewerage system, securing protection
from fires, improving the streets and
sidewalks, or for the liquidation Of
outstanding debts of said town.
Be it enacted by the legislature Of the
State of Mississippi 81
Section i. That an act of the Legis-
lature of the State OF mississippi entitled:
An act to repeal all acts heretofore in
cooperating the town of Rosedale, and
to incorporate the town of Rosedale, in
the county of Bolivar, Mississippi, and
for other purposes, approved February
Goth. 1890, be amended as follows
Insert after Section % of said act:
Sec. % (a). The mayor and town coun-
Gil for the purpose Of raising money for the
erection of school buildings and the pur-
chase of land therefor and for the erec-
tion and purchase of waterworks, the
sinking of artesian wells, the establish
ment ola sewerage system, protection
from fires, improving the streets, and for
the liquidation of existing debts of said
town of Rosedale, may issue the bonds
or other obligations of the raid town, not
to exceed in amount including all out
standing bonds, per cent ofthe assessed
value of the taxable property of said
town, as shown by the assessment foil
of said town
Sec. 28. (b). Said bonds shall mature
not later than twenty years from the
date Of their issuance and bear interest
at rate not exceeding six per cent per
annum payable annually; and such bonds
shall at the option of the said town be
payable at any time after ten years from
the date of their issuance. Said bonds
shall be litographed, with suitable de-
vices to prevent counterfeiting and shall
be in the sum of $4,000 each, and shall
be registered as issued; be numbered in a
regular series from o1ie upward; be sigh
ed by. the mayor and coun -ersigned by
lTe clerk, WIZ SilAiI I'LL press IHC AiuiiiSA-
pal seal upon each bond as issued; and
every such bond chall specify on its face
the purpose for which it was issued, and
each shall be made payable to a person
by name, the purchaser, followed by the
words cor bearer" The mayor and
board of aldermen shall levy annually a
special tax to be issued exclusively i'll
paying the interest OH such bonds and
in providing sinking fnnd for the re-
deniption of such bonds; and any officer
of said town who shall divert, or assist
in divcrting, any money collected as the
proceeds of such bonds, shall be guilty of
a rnisdemeanor} and on conviction before
the circuit court of Bolivar county, shall
be fined in any sum not exceeding $500.
and imprisoned in the county Jail not
exceeding six months or both.
Bee. 2. That this act to take effect and
be in force from and after it's passage.
Approved February 10, 1902.