The Bolivar County Democrat. (Rosedale, Miss.) 1887-1969, 1906-05-26
AN ORDINANCE.

| AN Or RDINANcE AUTHORIZING THE lssuH
| OF SCHOOL AND ELECTRIC LIGHT
| BONDS TO THE AMOUNT OF THREE
| THOUSAND DOLLARS OF THE Town OF
RosEDALE. MISSISSIPPI.
| BE IT ORDAINED by the Mayor and
| Town Council OF the Town OF Rosedale,
mississippi t
Section 1. That there are herebt
authorized to be issued six School and
Electric Light Bonds Of the Town OF
Rosedale, OF Five Hundred Dollars
| $500 .O0) each, dated the first day ol
| April, 1906, and becoming due twenty
years thereafter reserving, however, the
option to the Town Of Rosedalc to pay
said bonds at any time after ten Years
from their date. Said bonds shall be
signed by the Mayor and attested by
the Town Clerk under the corporate
seal. Said bonds shall bear interest,
evidenced by coupons, at the rate OF SIX
per centum per annun,, payable annuaIivi
and both principal and interest OF said
bonds shall be made payable at the
Banking House of ROYAL Trust CONF
t5any, In the City of Chicago, State o.
Illinois. 49,
Section 2. Said bonds shall be in sil'-
stantialy the following form:
No s5oo.od
UNITED STATES OF AMERICA
STATE OF MISSISSIPPI
TOWN OF RIOS DAL E
ScHooL AND ELECTRIC LIGHT BOND.
Know ALL MEN BY THESE PRESENTS.
That the Town OF Rosedalc, IN tic
County of Bolivar, and State OF Missis-
sippi acknowledges to owe and fur
value received hereby promises to pay
10 bearer Five Hundred pollara
($5G0 COY lawful money of the Unitel
States of America on the first day ni
April, A. d. 1926, with interest thereo!!
from the date hereof at the rate OF SIX
per centutn per annum, payable annually
on the first day OF April in each year on
presentation and surrender OF tho
annexed interest coupons as they sever
ally become due.
Both principal and interest of this
bond are hereby made payable at the
Banking House OF Royal Trust CONF
pany, ir the City Of Chicago, State u
Illinois, and for the prompt payment Of
this bond and the interest thereon thc
full faith, credit and resources Of said
Town OF Rosedale are hereby itrevocably
pledged.
rhis bond is redeemable at the optioii
of the Town of Rosedale at any ti.ns.
after he first day of April 1916.
This bond is one of a series of like
tenor issued for the purpose of provll7
ing funds for the erection of School
Building and building an Electric Light
system in the Town of Rosedale. ulIeicr
the authority of the Charter OF the
Town of Rosedale, as amended, and ~
an Ordinance duly passed by the Mayor
and Town Council of said town.
And it is hereby certified and recitcd
that all acts, conditions and things cs
qnired to be done precedent to and III
the issuing of this bond have been dong.
happened and been performed in regular
and due form, as required bv law. aud
that the total indebtedness OF the fo~Ii
of Rosedale, including this bond, Goes
not exceed the statutory or constltu-
tionaI limitations.
In TESTIMONY WHEREOF the Towi,
OF Rosedale have catised this bond to hs
signed bv the Mayor and attestetI bs lie
Town Clerk. and the coupons heret /
attached to be executed with the fnc7
sinlile signatures OF said Mayor and
Clerk this first day Of April, 1906
w. H. FITZGERALD, Mayor.
Attested and Registered:
o. D. THOMAS, Town Clerk.
COUPON
On the first day of April, 19-. the
Town of Rosedale, Mississippi, promises
to pay to bearer Thirty Dollars al the
ROYAL Trust Company Bank, in the City
of Chicago, Illinois, for interest due that
day on it's School and Electric Light
Bond No
w. H. FITZGERALD. Mayor.
Attest:
O. D. THOMAS, Town Clerk.
Section g. The proceeds Of said hon,ls
are hereby set apart and shall be dts
burscd solely for the purpose Of pas.i'g
for the erection of a School Building aud
building nm Electric Light System in and
for said Town of Rosedale.
Section A. The Mayor and Town
Council of the Town OF Rosedale rehv,
bind themselves and their successors o
annually in due time manner and season.
levy tax upon all the taxable property.
in the Town of Rosedale, sufficient tc
pay the interest upon sad bonds wleis
due. and to pay the principal thereof at
maturity.
Section 5. This Ordinance shall he in
force from and after its passage and
| publication.
| The above ordinance was unanimously
passed i'll open session on May 12th.
| 1906.
w. H. FITZGERALD. Mayor.