The commonwealth. (Greenwood, Miss.) 1896-1923, 1915-10-22
AN ORDINANCE

,, AN ORDINANCE
Resolving the report 81 the Election
. commissioners Of the election held Oc-
tober The 9Th, 1916. It which was sub
united for approval the ordinance ia
relation to the issuance Of bonds for
the purpose Of liquidating the floating
indebtedness Of the Greenwood Public
Schools;
Whereas, on Tuesday. August 18th,
1916. the same being . regular meeting
Of the Council of the City of Green
wood. Miss. the following ordinance.
to-wit:
AN ORDINANCE
In relation to the issuance of bonds for
the purpose Of liquidating the
floating Indebtedness of the Green
wood public schools.
Whereas, the Council Of the City of
Greenwood, Mississippi, desires to is
sue bonds of the City of Greenwood.
to the amount of SIG, 600. 90, OF so much
thereof Is may be necessary for the
purpose of liquidating the floating in
~debtedness of the Greenwood public
schools; and,
Whereas. it appears that the council
did publish notice of the proposal to
issue said bonds IN The Greenwood
Commonwealth, a newspaper published
in the City of Greenwood, Mississippi,
for three 90 weeks next preceding the
7th day of September, A. D. 1915; and,
Whereas, it appears that within the
time aforesaid 20 per cent. of the adult
taxpayers did not petition against The
issuance of said bonds; and,
Whereas, it appears from the ASSESS
ment roll of the said City of Green
wood, that the said SIG, OOO.O 90 proposed
to be issued when added to all of the
outstanding bonds of the City of
Greenwood, the proceeds of which have
not been invested in enterprises pro-
ducing or having sufficient
to pay the interest on these bonds, does
not exceed in amount Z per cent.
of the assessed value of the taxable
property of said City of Greenwood;
Mississippi.
Now, therefore, be it ordained by the
council of the City of Greenwood, Miss
issippi;
First, That SIG, 600. 90, or so much
thereof as may be necessary of the
bonds of the City of Greenwood be is
sued for the purpose, of l%iquldating the
floating indebtedness of the Greenwood
public schools, which bonds shall be
issued in the SUI of five hundred
($5O0. OO) dollars, and shall mature on
the first day of November, 1895.
Second, Said bonds shall be dated
LIST day of November, 1915, and bear
interest at the rate of five per cent
per annum from date, said interest
shall be paid on the LIST day of Novem-
Der annually.
Third. Said bonds shall be litho-
graphed, and signed by the Mayor and
countersigned by the Clerk of the City
of Greenwood, Mississippi. who shall
impress the municipal seal on said
bonds and interest coupons shall be
attached to each coupon; interest
coupon shall have the Autographed sig
nature of the Mayor and Clerk, and the
autographed signatures shall in all re-
Greenwood, as the original signatures
Of the Mayor and Clerk of the said
City of Greenwood would be.
Each bond shall specify on it's face
the purpose for which it is issued, and
each bond shall be made payable to
bearer.
Approved this the 7th day of Sep
TENDER, 1915.
G. L. RAY, Mayor.
Attest: WARNER WELLS, Clerk.
Filed August 18th, 1915.
WARNER WELLS, Clerk.
was introduced in ~. -a mh :.
was adopted by the Council, and read
by the Clerk at a regular
meeting of the Council OF the
City of Greenwood, and vas filed
and remained On file with the City
Clerk for the public inspection for two
weeks, and was finally passed and
adopted by the Council of the City Of
Greenwood, on the 7th day of Septem-
Der, 1915, and approved by G. L. Ray,
Mayor, and Attested by Warner Wells,
City Clerk; and,
Whereas, after the passage n ap-
prevail of the foregoing ordinance pro-
viding for the issuance of the bonds of
said City of Greenwood, the Mayor ard
Council of said City did pass IN order,
ordering an election to be held on Oc-
tober 9Th, 1915, said date being thirty
days after the passage and adoption Of
said ordinance by said Mayor and Coun-
Gil Of the said City, for the purpose of
submitting to the qualified electors of
the City of Greenwood, Miss, said or
dinance in relation to the issuance of
said bonds, as aforesaid, and appoint
ing Nj. B. Grace, and J. G. Gillespie
and Littleton Upshur, as election
commissioners to hold said election with
NJ. B. Grace designed as commissioner,
to have tickets of said election printed
as distributed; and,
Whereas, the Council of the City Of
Greenwood, gave notice of said election
as required by law; and,
Whereas, said election commission
ers gave notice of said election; and,
Whereas, proof of publication of said
notice, aforesaid has been filed by The
Commonwealth, a newspaper published