The Pascagoula chronicle., 1919-09-13
ORDINANCE NO. 1a1s1s.

i ORDINANCE NO. 1s-1s1s.
An ordinance entitled an ordinace to
authorize the Issue Of Seventy-five
Thousand Dollars Of the Public
u Wharf Construction Bonds Of the
!, City Of Pascagoula, Mississippi, and
! Prescribing the Details for the ls
suance Of the Same.
u Be it ordained by the City Council
Of the City of Pascagoula, Mississippi:
Section /. That for the purpose OF
: the construction OF public wharf on
the city wharf site, trackage and ter.
minals for approaches thereto and pro
curing of right-of-way for same and
land for an addition to said wharf site,
the negotiable coupon bonds of the
City of Pascagoula shall be issued to
the amount of seventy-ive thousand
Edollars ($75, 100000 or so much thereof
as may be necessary, in denominations
OF $4,000 each and shall be $50 in
number, numbered from i to $50 In
elusive. Said bonds shall be known
as Public Wharf Construction Bonds
OF 1919 and shall be dated 1st day Of
November, 1919, and payable semi.
annually as follows;
Bonds numbered from 1 to 5, both
Inclusive, shall mature one bond each
year on 1st day of November, 1920
to 1924, both inclusive. Bonds num-
bered from to Is, both inclusive, shall
mature two bonds each year 1st day
iOf November, 1925 to 1929, both in
clusive; Bonds numbered from 16 to
65, both inclusive, shall mature ten
bonds each year on the 1st day of No
vember 1880 to 1884. Bonds number
ed from &C to 125 shall mature twenty
bonds each year on the 1st day of No
vember 1886 to 1887, both inclusive.
Bonds numbered from 126 to $50 shall
mature on the 1st day of November,
1898.
Section g All of said bonds shall
bear interest at the rate Of six per
centum per annum payable semi-an
nually on the 1st day of November
and the 1st day of May of each year
and shall be evidenced by interest cou-
pons attached to said bonds and both
the principal and interest of said bonds
shall be payable in lawful money of
the United States of America at such
place as may be agreed upon with the
purchaser.
Section g. All of the said bonds and
coupons to be attached thereto shall
pe substantially in the following form,
respectively, to-wit;
United States of America, State Of Mis- |
sissippi, County of jackson, City
Of PascagouIa.
Public What Construction Bonds
OF 1919.
No.- $5OOOO
Know all men by these presents |
that the City of Pascagoula, County |
of Jackson, State of Mississippi. ac-
knowledges itself to owe and for value |
received promises to pay to the bearer
hereof the principal sum of Five Hun
dred Dollars ($500.00) ON the 1st day |
of November, d., with interest
thereon from the date hereof until
paid at the rate of six per centum per
annum payable semi-annually on the
1st days of November and May of each i
year. as evidenced by and on the pre-
seniation and surrender of the Ht |
tached coupon as they severally be-
come due Both principal and inter !
est of this bond are hereby made pay
able in the lawful money of the United
States of America at ------------.
and for the prompt payment Of this
bond at maturity and the interest
thereon as 1t falls due the full faith.
credit and resources of said city are
hereby irrevocably pledged.
This bond is one of a series Of 150
bonds of like date and tenor amounting
in the aggregate Seventy-fve thousand
dollars issued for the purpose of rails
ing funds for the construction Of
public wharf on the city wharf site.