The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1920-07-16

on or purchasing said bonds, and none
now. and
Whereas, it is the sense of the
Mayor and Board of Aldermen of the
city of Aberdeen, Miss, that said
bonds can not be sold at the low rate
of interest, viz: five and one-half
% 1-2J per cent. which it was the
original intention of the Board that
such bonds should bear; and that said
rate of interest on said bonds shall
bear to the purchaser or purchasers
thereof should be increased to six per
cent. per annum. Now therefore,
Section l.. Be it ordained, and it is
hereby ordained, by said Mayor and
Board of Aldermen of the City of Alb
erdeen, Miss, that for the purpose of
taking up, paying off and discharging
the aforesaid bonds of said city there
be issued 1926, ZOO. 0GJ twenty-five
thousand dollars Reminding Bonds of
the City of Aberdeen, Miss. said
bonds to be of the denomination of
$500. 90 each. numbered from one UJ
TO fifty 1901. inclusive, dated April /.
1920, payable in numerical order as
follows, to-wit: One bond on April
1st. in each of the years 1921. 1922,
1928 and 1924 inclusive. and two
bonds on April 1st, in each of the
years, 1925. 1926, 1927. 1928 and 1929
inclusive, and six bonds on April Ist,
in each of the years 1880. 1881, 1882.
1888, 1884 and 1896 inclusive. Said
bonds shall bear interest at the rate
of six (6) per cent. per annum. pay
able annually on the first day of April,
and both principal and interest shall
be payable in lawful money of the
United States of America at the First
National Bank of Aberdeen, Aber-
deem. Miss.
Section 2. Said bonds shall be lith-
ographed or engraved and printed in
two or more colors to prevent coun-
terfeiting and shall be signed by the
mayor and countersigned and attested
by the city clerk who shall impress
the seal of said city upon each of said
bonds as it is issued. Said bonds shall
haYe coupons for interest attached,
said coupons being executed with the
fac simile signatures of said mayor
and clerk, and said bonds and cou-
pons shall be in substantially the fol-
lowing form, to-wit:
United States of America,
State of Mississippi,
City of Aberdeen Refunding Bond.
Mo- $500. 90.
The City of Aberdeen, in the State
of Mississippi, for value received
hereby acknowledges itself to be in
Five Hundred Dollars $500 0O) in /
lawful money of the United States of |
America, on the first day of April, |
49,. with interest thereon at the rate /
OF six 49, per cent. per annum, pay
able annually on the first day of April |
upon presentation and surrender of
the annexed interest coupons as they /
severally become due. Both prjnci-
pal and interest on this bond are pay.
al
Aberdeen, Miss, and for
the prompt payment of this bond and
the interest thereon. the full faith,
credit and resources of the City of
Aberdeen are hereby irrevocably
pledged.
This bond is one of a series of like
date and tenor. except the maturity,
amounting in the aggregate to twenty
i've thousand dollars 1926. 900. 00). and
is issued for the purpose of refunding
and liquidating valid, outstanding and
Indebtedness of the city of
Miss. under and pursuant
to and in full conformity with the
and statutes of the State
Of Mississippi. including among others
Chapter lat of the laws of 1914, and
2G9 of the laws of 1918, and
pursuant co ordinances and proceed
ngs of the Mayor and Board of Alder
men of the City of Aberdeen duly
adopted and taken.
It is hereby certified. recited and
declared that all acts. conditions and
;hings required to exist, happen and
De performed precedent TO and in the
ISSUANCE of this bond. have existed,
nave happened and have been per-
ormed in due time, form and manner
Is required by law, and that this
pond, and the issue of which il forms
part, together with all other indebt-
sdness of said city of Aberdeen, does
lot exceed any limit prescribed by
he Constitution or Statutes of the
stale of Mississippi. and that provis- j
ons have been made before the issu-
.nce of this bond for the levy of q | :
ak upon the taxable property OF said
.ity sufficient TO provide for the pay 7
nent of the principal and interest
lereon and this bond 10 exempt from
sxation within the State of Missis- I