The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1921-11-25

dVu laws
Sec. 3. That this resolution take
effect and be in force from and after
passage.
Whereas it has become necessary
for the Water and Light Department
to secure and set up a new engine
and generator, in order that its plant
can take care of its business and
supply it's customers and this necessi-
ty has become imperative and urgent;
and,
Whereas this board and its said
departments have carefully consid-
cred the matter aud secured from
different persons, proposals and bids
IN regard thereto; and,
Whereas, The Ridgway Dynamo s.
Engine Company has proposed to
= furnish the required machinery at
such price and on such terms as to
make its proposal the best submitted,
and this board and said department,
after careful examination and consid-
Grafton, have determined that its
proposal should be accepted; and,
Whereas, Said Department, with
its funds on hand and with it's reGu-
lar and current monthly receipts and
income, has and will have a sufi-
cheney of money to pay the purchase
price of said machinery. without any
levy of taxes thereof, and according
to the terms of the payment proposed
Be it therefore ordered, hat said
Water & Light Department shall pur-
chase from said Ridgway Dynamo
& Engine Co., the machinery needed,
to wit:
One left-hand 16" by %" Ridgway
Side Crank, 4-valve engine, direct
connected to, One 200 K. w. 500
power factor, Maximum Rated, En-
CINE Type Alternator, with One 12k
K. W. 1925 volt, 1900 R. P. N. belted
EXETER, according to the plans, speci-
fications and detailed descriptions
mentioned and contained in the pro-
ted by said seller, and referred to
as a part hereof, at and for the sum
of $4,000, to be paid by said De-
partment as follows: !
500 on delivery at Grenada, Miss, !
the purchaser to pay freight charges,
and the balance in 4 equal Install
ments, to be evidenced by notes made
payable 80 days after date, provided
that when one romore of said notes |
shall have been paid, the remaining
notes will be extended and become
due 80 days thereafter, and on the
payment at that time of another note
or notes, the then remaining note or
notes will be extended and become
due 80 days thereafter, and so on
until all of said notes shall have thus
matured and been paid,-all without
interest. Reference in said notes to
be made to the order, and payment
of the purchase price, or (and) &C
ceptance and use of the machinery
shall not lessen, impair, nor consti-
tute a waiver of, the sellers war
r~anties.
Ordered further that acceptance
of said proposal be made in writingl
by the Mayor and Recorder, for said
Department.
The following resolution was intro
duced. its adoption moved and Sec
onded and put to a vote. All of the
aldermen present voting in favor of
its passage, it was declared duly adop- |,
ted and ordered spread upoE the
minutes, viz:
Be it resolved by the Mayor and
Aldermen of the City of Grenada,
Mississippi: 4;
Section 1. That the City of Gre :
NADIA shall borrow the sum of Eight
dollars on account of the
school fund in anticipation of taxes,
collectible by and payable into said
fund during the present year. said
moneys to be repaid to the lender on
the 5th day of April, 1922, with six
per cent interest thereon per annum
from date until paid.
Sec. 2. That the Mayor and Rel +.
corder be and they hereby are au-
thorized and empowered to execute +,
q note unto the lender of said money! +.
to said fund of said city for said sum ;
with six per cent interest !
per annum from date until :
paid, and when so executed there =
shall be pledged unto the lender of ;
said moneys the full faith, credit, re- ,
sources and revenues of said city for :
payment thereof according to it's =
,erms. 1t is hereby recited and af- Z
that the debt, so incurred by q.
the execution of said note, added to 4
current debt of the year, will not !
exceed the sum which the levy of =
for the present fiscal year will !
'aise for said fund, and hat said 8
,ote will not exceed nor violate any :
constitutional, statutory or charter E
imitation. =
Sec. 3. The form of the note shall \
,e as follows: +,
100000 Grenada, Miss, II
Oct S.. 1921 !,
On the 5th day of April. 1922, the d
City of Grenada, Mississippi. hereby
to pay unto Grenada Bank, c
n bearer, the sum of Eight Thousand is
Dollars, with 6 per cent interest d
hereon per nnum from date until Ii
,aid; value received. lib
This note is executed for the pur- e.
'ose Of arising funds for the school t.
und of said municipality and is ex-
n anticipation Of taxes pay IL
BILE to and collectible for said fund T
or the present fiscal year. 1t isl
ereby recited, certified, and affirmed 3