The Durant news. (Durant, Miss.) 1882-1985, 1939-12-14

teres. rate Of 8 "a percent per annum
and the remainder Of forty-six thou
sand dollars t$46, 100000 of said bonds
being the last forty-six thousand dol
lars $4,000 .00) In bonds to matuEe
under he refunding issue, the inter
est rate of 3 IA percent per annum
plus a premium of $500 on all o.
said bonds; and
THAT, the Mayor and Board d
Aldermen have, by resolution duly
passed on the 7th day of December
1899, accepted, confirmed and ratified
such bids and proposals and have
agreed 20 issue such refunding bonds
at the above described interest rates
THAT, All acts, conditions and
things required by the consti. ulion
and laws of the State of Mississp pi
to be done precedent to and in the
issuance of these bonds have been
properly done, happened and been
performed in regular n due form
and time required by law, and the
total indebtedness of the said City
of Durant. Mississippi, including these
bonds, does not exceed any cons
tutional or statutory limitations;
NOW THEREFORE,, BE 1T OR
DAINED by the Mayor and Boara
of Aldermen Of the Cy of Durant,
Mississippi.
SECTION I. That the said Mayo
and Board of Aldermen have found
and do hereby find and declare that
here are not now funds available
from taxes, sufficient to pay and re-
deem the bonds described in the pre-.
amble to this ordinance. when the
same shall mature or become Tue and
payable, in accordance with h cali
for payment of said bonds here ofore
authorised to be made; and that there
will not be sufficient funds to pay
or redeem said bonds on the sdale
| when said bonds will mature. and be-
come due and payable ras aforesaid
and 1t will be necessary to issue re-
funding bonds to provide the funds
| required.
SECTION II. That for the pu:-
pose, of providing for the redemp ion
| Of the aforementioned and described
outstanding and unpaid bonded in
debtedness Of the City OF Durant,
aggrcgating the sum of n hun
| dred thirty-five thousand doiiais
| t$135, 100000 as said indebtedness is
more particularly set out and de,
scribed in the preamble to this or
dinance, they should be and they are,
hereby authorized and directed to be
issued, bonds Of the said City OF
Durant in the sum of M hundred
lthirty-five thousand dollars ($135, 0O0.
rant Refunding Bonds Of 1940." Said
| refunding bonds shall be dated the
first day Of January, 1910; they shall
be in two 90 series. Series A and
Series B. The bonds under Series
A shall be numbered 'front.' to 81
Inclusive and shall be in the demons
nations Of one thousand dollars ISL
tOO0. 00) and five hundred dollars
($500.O0) each a hereinafter set out
and shall be in he aggregate amour,
of eighty-nine Thousand dollars 1889,
100000 and shall bear interest at the
rate of 8 "a percent per annum pay
able semi-annually on the first day
Of July and the first day of Janu
airy In each year until paid. The bond
in Series B shall be numbered from
/ % e. no tn~yAsa a.-l cLnly L. IL
the denominations Of one thousand
dollars 81, OO.O0) and five hundred
dollars ($500.0 0 each as hereinafter
set out. they shall be in the aggregate
amount of ~forty-six thousand dollars
f$46. 900 O) and shall bear interest
at he rate Of 81 percent per annum
payable s~emi-annually on the frs
day Of July and the first day Of Jan
uaSy in each year until paid; and
Ion all said bonds In both Series A and
B. prior TO maturity. said interest
shall be payable upon the presenta.
ton and surrender OF the coupons
attached to each bond. 30. h the prin-
cipal Of, and interest on said bonds
shall be payable In lawful money
OF the United States Of America at
the City Depository of Durant. Du-
rant. Mississippi. Said bonds shall
be In the denominations Of one taous-
and dollars each and five hundred
dollars each $4,000 .Oo) q $500. 90,
"a hereinafter set out. and shall Ne
numbered from 1 to 1873. both inolu
sive, as hereinafter se' out. and shall
mature In the amounts and at the
times following. towit:
"Series A" Bonds at 8 S4 Percent
Per Annum 81
Bond Numbers. Amount Maturity
Each Bond
! to 4 inclusive 100000 Jan. 1. 1917
5 to 8. inclusive 100000 Jan. 1, 1872
9 to II inclusive 100000 Jan. 1, l94s
13 to J6. inclusive 100000 Jan. 1. 1914
II to 20, inclusive 100000 Jan. / 1e4s
81 to 26 inclusive, 100000 Jan. /, 1915
q to 80. inclusive 10000 Jan. /. 1871
33 to 3s inclusive. 1.000. 90 Jan. 1. 1919
80 to A inclusive, 100000 Jan. /, 1899
As to SO inclusive, 100000 Jan. 1, 1850