The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1920-07-09
PROCEEDINGS
OF Mayor and Board of Aldermen,
Regular Meeting, Mayors Of
flee, City Hall. Aberdeen, Miss.
Is.lv zfh 1000

A2~~S 10y AAoEAs ffD~A &~NAs fAaSos .
July 9TH. 1920.
Present.. Nj. Acker, Mayor; J. l..
Shell, Frank Ransom. w. 8. Carl
ton and j, p. Brewer, aldermen
Absent, 8. Schwab.
/ At the regular July meeting, 1920.
of the Mayor and Board of Aldermen
of the City of Aberdeen, Mississippi.
held at the mayors office in the City
Hall on the 7th day of July. 1920. and
after the minutes of the preceding
meeting of said board had been read
and approved, the following ordi-
nance, having baen previously reduc-
ed to writing. was read and consiG-
cred by sections. and on motion of j.
l.. Shell. seconded by Frank Ransom.
said ordinance was unanimously pass
ed, the vote upon the final passage
having been taken by yeas and nays.
which was as follows:
j. M. AcBer. Mayor; j. l.. Shell.
Frank Ransom, w. s. Carlton and j.
z. Brewer. aldermen, all voting yea.
| An ordinance authorizing the issu-
ance of serial bonds of the City of
Aberdeen for the purpose of funding
| twenty five thousand dollars of bonds
of said city. issued April 1st 1905, for
the purpose of raising money TO pay
| for and improving suitable lot and
erecting and furnishing a public
school building within its corporate
| limits, for white pupils.
Whereas, the City of Aberdeen,
Miss. has, outstanding twenty-five
thousand dollars 1925, 10000, of the
bonds of the said city issued for the
purpose of raising money to pay for
and improving a suitable lot and
erecting and furnishing public school
building within its corporate limits.
for white pupils. issued April 1st. 1905,
and which became payable April 1st,
1920, and
Whereas. all of said obligations are
valid and legally binding interest
bearing debts of the city of Aberdeen,
and are now outstanding and unpaid,
and
Whereas. the City of Aberdeen has
no funds in the treasury of said city
applicable to the payment of said
bonds, and it is accordingly necessary
to issue Refunding Bonds Co provide
for the payment of said outstanding
obligations of said city, and
Whereas, the Mayor \and Board of
Aldermen of said city did. at its reg
ular meeting held in the mayors Of
fee in the City Hall. in the city of
Aberdeen, on the 7th day of April.
1920. make and enter an ordinance
providing for the issuance of refund
ing bonds in the sum of twenty five
thousand dollars 1926. 900 00) bearing
five and one-half per cent. IS l-2) in
terest from April lst. 1920. for the
purpose of taking up, paying off and
liquidating said bonds so outstanding,
and gave notice of the intention TO
issue said bonds as of the date of
April lst. 1920. and advertised for the
sale of said bonds on May 9th. 1920,
at 3 80 p. m, at the mayors Office IN
the City Hall of the City of Aberdeen.
Miss, that being the day and time
for the regular May meeting of said
Mayor and Board of Aldermen of said
city, and all notices being given as
required by law, and
Whereas, at said time and place
there were no bid or bids made for
said bonds. and no bidder or bidders
appeared for the purpose of bidding
on or purchasing said bonds, and
Whereas. at said time and place !
said Mayor and Board of Aldermen |
made and entered an ordinance. au-
thorizing and directing a readvertise |
ment CT the sale of said bonds for June |
End, 1920, at 3: 80 p. m, at the mayor |
Office in the city of Aberdeen, Miss, I
on the same terms and conditions |
made in its original order, that being |
the day and time for the regular June |
meeting of said Board of Aldermen, |
and publication being made of their |
intention to Issue said bonds as afore-
said, and all notices being given as |
required by law, and
Whereas. at said time and place |
there were no bid or bids made for |
said bonds, and no bidder or bidders i
appeared for the purpose of bidding |
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
Is 1-2J per cent. which it was the
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 1. Be it ordained. and it is
hereby ordained, by said Mayor and
Board of Aldermen of the City of Alb
Miss, that for the purpose of
taking up paying off and discharging
the aforesaid bonds of said city there
be issued 1925, 000.0GJ twenty five
thousand dollars Reminding Bonds of
the City of Aberdeen, Miss. said
bonds to be of the denomination of
$500 20 each, numbered from one o. |.
TO fifty l50J. inclusive, dated April l.
1920, payable in numerical order as
to-wit: One bond on April
lst. in each of the years 1921, 1922.
1923 and 1924 inclusive. and two
bonds on April 1st, in each of the .
years, 1925, 1926. 1927. 1928 and 1929
and six bonds on April 1st.
N each of the years 1880, 1881, 1892. ,
1888. 1884 and 1885 inclusive. Said
bonds shall bear interest at the rate
Of six 90 per cent. per annum, pay
lble annually on the first day of April, :
md both principal and interest shall J
De payable, in lawful money of the
United States of America at the First
Y ational Bank of Aberdeen, Aber-
leen. Miss. =
Section 2. Said bonds shall be lith-
'graphed or engraved and printed in
wo or more colors to prevent coun- \
erfeiting and shall be signed by the
mayor and countersigned and attested
W the city clerk who shall impress
he seal of said city upon each of said
'onds as it is issued. Said bonds shall
AYE coupons for interest attached,
hoix n IN Il