The Bolivar County Democrat. (Rosedale, Miss.) 1887-1969, 1920-01-24

Continued from Last Week.
This Board finds that the total as.
sessment of benefits as shown by as
sessment roll will be the sum Of 1884,.
46452
1t is further ordered and adjudged
that there shall be and is hereby as
sessed on the real property of said
district, including the lands added
thereto as aforesaid and against the
benefits assessed thereon, a tax suf.
ficient to produce the aggregate sum
of SITS, 100000, the same being the
amount of said bond issue of $175,000,
including the interest on the same
plus ten per cent for unforeseen con-
tingencies. The said tax to be paid
by the said real property owners in
said district including the addition
thereto in proportion to the amour
of the assessment of benefits thereon.
It is furthered ordered considered
and adjudgcd that the said tax ag-
gregating the sum of SITS 100000 here
inbefore assessed, shall be divided
into twenty installments and that the
said installlnents shall be due and
payable in such amounts and at such
times as said drainage commissioners
shall hereinafter designate.
1t is further ordered that the said
installments shall be entered an
nually on the assessment roll of said
district and collected by the tax col
lector OF said Bolivar County in the
manner and at the same time as the
state and county and other taxes are
collected each year and the said tax
collector shall pay over the same to
the county treasurer for the use OF
the said drainage district.
(a) 1t is further ordered consid-
cred and adJudged that in order to
meet the interest upon the said bonds
and pay the principal theIeon, as it
natures, there is hereby appropriated
for that purpose and set aside out
of the first money received from the
collector Of said installments of the
said taxes assessed against the real
property including all lands within the
said drainage district and additions
thereto as aforesaid, sum sufficient
to pay the interest and principal of
the said bond issue during the year In
which the installments OF the said
taxes Is due and payable in accord
ance with and as shown by the tab
ulated statement hereinbefore referred
to or any bonds and coupons that may
have already matured and yet remain
ing unpaid.
(b) 1t is further ordered consid-
cred and adjudged that no part of the
funds derived from the collection Of
the said installments shall be applied
or used for any purpose than the pay
g s,.ko Nj vnr.iyon ~
bonds until there has been deposited
with the depository Of the funds OF
the said Lead Bayou Drainage District
selected according to law an amount
sufficient to pay the interest and prin-
cipal maturing in the year in which
installment is due, as well as all other
bonds and coupons already matured
and remaining unpaid.
(c) 1t is further considered order
ed and adjudged that any money re-
naming out of the proceeds OF any
installment of the taxes after provision
for the payment of the interest and
principal of said bonds has been made
as hereinbefcre provided, may be used
for the purpose Of meeting admins
tration expenses and maintaining the
drainage system
(d) 1t is further considered order
ed and adiudged that in case funds
are required or needed by the said
drainage district for any purpose other
than the payment of the principal and
interest of said bonds except for ad-
ministration and maintenance as here
inbefore provided. said funds shall be
raised by an additional tax levy and IN
no event shall there be any levy or
!evies that will in any manner or to
anv extent impair the security OF the
said bonds which are and at all times
shall be first lien upon the said as
sessment of benefits and the taxes
levied within the said drainage dis
trict.
(e) 1t is further ordered and ad-
Judged by this Board that the form
of the bonds to be issued and sold
by said commissioners shall be as al
ready adopted by them and is as fol
lows, to-wit:
FORM OF BOND
UNITED STATES OF AMERICA
BOLIVAR COUNTY
LEAD BAYOU DRAINAGE DISTRICT
Mo- $4,000
Know all men by thesa presents
That the Lead Bayou Drainage Dis
trict of Bolivar County State of Miss
issippi, acknowledges itself indebted
and for value received promises to
pay bearer on the first day Of January,
A. D. 19-, one thousand dollars.
with interest thereon from date until
paid at the rate Of six per cent per
anrum. navable semi-annually on the