The Pascagoula chronicle. (Pascagoula, Miss.) 1905-1920, 1919-03-29
Ordinance No. II, 1919,

Ordinance No. II, 1919,
An ordinance entitled an ordinance
to authorize the issuance 81 loan
certificates Of the City OF Pascagoula
for loan Of ThirLy.One Thousand
Dollars 1881 ,000) to be used for I'M
proving the streets OF said City.
Be IL ordained by the CITY Council
OF the City OF Pascagnuli, Mississppi
Section l.-That for the purpose Of
raising money for in proving the
streets OF said CITY, for which the
general improvemtnL fund is insufi
cient. the loan certificates OF the City
OF Pascagoula in the total sum Of
Thlrty.One Thousand Dollars 1881 ,OOO(
divided into Thirty One certificates
for 81 900 each, eleven OF which are
payable one year after date, ten Ger
tiflcates for 81, 900 payable two years
after date aud ten for 81 900 payable
three years alter date,to be issued aud
dated the lst day Of May, 1919, and
bearing interest at the rate OF six per
cent per annum from date of issue
until paid. payable semi>annually, are
hereby authorized TO be issued aud
used for the purpose OF procuring such
loan Of $3l 200 subject to the approval
OF the electors Of the City Of Pasca-
g0ula at special election to be called
and held for such purpose, as pro>i1-
ed BY law.
Such loan certificates shall be sign
ed by the Mayor aud countersiRned 10y
by the City CleIk. who shall aLtath h
the seal Of the City thereto, and shall
be 10 form as follows, tOswit:
UNITED STATES OF AMERICA.
City OF Pascagoula Loan CerLi>
fcaLe No.
The State OF Mississippi
Jackson County
CITY Of Pascagouia.
Know all men by these preeents
that the CITY Of Pascaeoula, in the
State OF Mississippi, hereby ackn0wl,
edges itself to owe and for value re
ceived promises to ply to the bearer
on the lst day of May, 1872, One
Thousand Dollars Isl, ,0O0) in the laws
ful current money Of the United |
States uf A Amerlca, and further to pay |
interest thereon from date at the rate
OF SIX per centum per annum until
paid ia like current money OF United |
States, payable semi annually, on the
lst days Of May and November, both
principal and interest Of this loan
certificate shall he payable at the
office OF the City Clerk Of said City OF
Pascagoult.
series Of Thirly'One Loan Certificates
and numbered from one TO Thirty.One
Inclusive and OF Ike tenor, Eleven
for 81 900 due one year after date, ten
for 81 900 due two years after date and
ten for 81 900 due three years after
late, issued for the purpose OF provid.
Ing funds for The purpose OF defraying
the expenses OF said City in improving
The streets OF said City, authorized by
m ordinance of the City Council duly
adopted on the day Of............., 1919,
md which was published in IA public
newspaper in said City and duly en-
rolled the Ordinance Book, as pro.
1ided bv law, being Ordinance No. II,
.9l9.
1t IL certified that the foregoing
ordinance authorizing the issue Of
,his loan certificate WAS introduced
q The form ia which it was finally
ldopted by the City Council, was
cad by the Clerk at regular meet>
ng by the said Council and there-
IfLer remained on 1le with said City
}lerk for public inspection Tor at
east two weeks before its final pass
aye aud adoption; that said ordl-
lance was thereafter approved by a
nsjnrity If the qualified electors OF
aid City OF Pascagoula voting there
10 at a special election duly order, d
nd held for that purpose 10 the (
manner provided by law in such cases
o the..day OF -. Sc zee, 1919
And 1t IL is hereby further certified 7
nd recited that all acts, conditions
nd things required To be done pre> r
edent TO and IN the ISSUANCE OF this :
.oan Certificate have heen properly
one, happened and perfoI med 10 the
urn, manner and at the time pre- +
cribed therefor by law. And it is 9
urther EXPRESSLY represented and \
ertifed that the total Indebtedness
videnced by the series OF certi fcates h
I which this is one, when added tn c
be total Indebtedness bf said Cry. a
oes not exceed ten per cent of the G
ssessed valuation o. The rea. aud g