The Durant news. (Durant, Miss.) 1882-1985, 1937-01-07
AN ORDINANCE

ING THE lSSUANCE AMI
SALE OF TWENTY-FIVE
THOUSAND ($25,000)) OF IN
DUSTRIAL BONDS OF THE
CITY OF DURANT, MISSIS-
SIPPI, FIXING THE DATE,
DENOMINATION, MATURITI-
ES, INTEREST RATE AND
FORM THEREOF, AND FOR.
OTHER PURPOSES.
WHEREAS, it appears to the
Mayor and Board of Aldermen of
the City of Durant, Mississippi,
and it is so found, determined
an adjudged:
(a) That on the first day of
December, 1886, there vas pre-
sented to the Mayor and Board of
Aldermen of the City of Durant,
Holmes County, Mississippi, a pc
tition of more than twenty per-
centum of the qualified electors of
said municipality, requesting the
City of Durant, to avail itself and
it's citizens of the opportunities af-
forded under the provisions of
Chapter l, of the laws of Missis-
sippi, First Extraordinary Ses-
sion, 1886, known as the "Mis-
sissippi Industrial Law" and
hereinafter referred to as such
and
CD That on the first day of
December, 1886, at a regular
meeting of the Mayor and Poard
of Aldermen of the City of Du-
rant, said petition of the qualified
electors of said municipality was
heard and considered by the said
Mayor and Board of Aldermen,
and said Mayor and Board, at the
request of the qualified electors
signing and presenting such peti-
ton, did properly make applica4
ton to the Mississippi Industrial
Commission, requesting such In
dustrial Commission to examine
the conditions and opportunities
presented in the said City Of Du-
rant, Mississippi, for industrial de.
velopment, and further requesting
such Commission to issue a certi-
ficate of public convenience and
necessity authorizing the said
City of Durant, Mississippi,
to come under and take advantage
of the provisions of said Chapter
1, of the Laws Of Mississippi,
First Extraordinary Session, 1886;
and
(c) Said Mississippi Industrial
Commission did, pursuant to such
application made by the City OF
Durant, Mississippi, investigate
such municipality and hold public
meetings and gather information
and determine that the said city
of Durant was entitled to come
under the provisions of the afore-
mentioned Industrial Law of Mis-
sissippi; and
I'D That the Mississippi In
dustrial Commission did issue to
the City of Durant, Mississippi, a
Certificate of Public Conven-
fence and Necessity" authorizing
such municipality to acquire, to
own and to lease a textile, knit
ting or hosiery manufacturing
plant, and authorizing such mu-
nicipality to issue its bonds in a
sum not exceeding $25,0O0.O0 for
that purpose; and
(e) That the Mayor and Board
Of Aldermen of the City of Du-
rant, Mississippi, after the receipt
of such Certificate of Public Con-
venience and Necessity, at a meet
ing of such Mayor and Board on
the 9th day of December, 1886,
did, by resolution properly pass
ed, order the Election Commits
sioners of the City of Durant, Mis-
sissippi, TO call an election in ac-
cordance with law, submitting to
the qualified electors of such mu-
nicipality the question of whether
or not the bonds Of the munich
pality would be issued in the
amount of $25, 900 to come under
der the provisions of the Indus
trial Law of Mississippi; and
(f) That the Election Commits
sioners of the City of Durant,
Mississippi, did, pursuant to such
resolution Of the Mayor and
Board of Aldermen and in ac-