The Durant news. (Durant, Miss.) 1882-1985, 1940-03-28

and Laws Of the state OF Mississippi
to be done precedent to and in the
issuance of the said bonds have been
properly done, happened and been
performed in regular and due form
and time required by law; and
WHEREAS, it appears unto this
Board and this Board so finds, de
termines and adjudges that the issu-
ance Of said bonds is for a lawful
mentioned resolution of February goth,
1910, prior to the ~hereinbefore men
toned election, determined tn num-
Der of qualified electors residing with
In the corporate limits of the said
municipality, and that in said election
more than a majority OF the quail
fled electors residing within the said
Municipality voted in favor of the Is.
suance Of said bonds; and that the
issuance and sale of such bonds In
the amount Of Sixty Thousand Dol
lars ($60,oO0.Oo) when added to all
Of the present outstanding bonds OF
the said City of Durant will not ex-
coed Twenty-Five per centum (25 pei
centum) Of the assessed valuation OF
the taxable property within said City
OF Durant according to the last con-
plete assessment for TAXATION; and
WHEREAS. IL further appears to.
and It Is found, determined and ad
judged by this Board, that the cos,
Of erecting and equipping the said
school building for the said munich
pality, Is the sum Of One Hundred
Ten Thousand Dollars ($110, 900. 00)
and that more than Forty-five per
cent CAS- per cent? of this cost, to-wit:
Fifty Thousand Dollars $3.50. 900. 00), L.
available from the Works Progress
Administration, an agency OF the
Federal Government, by way OF labor
material and funds; and that 1t Is
necessary to Issue the bonds Of said
City of Durant In the amount OF
Sixty Thousand Dollars ($60,000.0 0)
to make available the said totai
amount of money necessary to o
struct, equip and furnish a schoo,
building adequate for the needs Of
said municipality.
Now Therefore BE It Ordained BY
The Mayor And Board OF Aldermen
OF The City Of Durant, Mississippi:
SECTION 1. That for the purpose
Of erecting, equipping and furnish
ing a school building In the said
City of Durant, Mississippi, there be
issued and sold bonds of the CITY
of Durant, Mississippi, in the amount
Of Sixty Thousand Dollars.
SECTION 2. That said bonds shall
be designated, "City of Durant School
Bonds Of 1940," be Autographed OF
engraved and printed in two or more
colors to prevent counterfeiting, be
dated April LIST. 1910. be payable t.
bearer, be payable as to both prin
cipal and interest in lawful money of
the United States of America at the
City Depository of the City of Du.
rant, Mississippi, bear interest from
their date at not exceeding 6 per
centum per annum. payable semi
annually on October 1st and April
LIST in each year. be signed by the
Mayor OF the City Of Durant, Mis-.
sissippi. and countersigned by the
Clerk of the said City, with the sea
of the said City impressed thereon
be in denominations of Five Hundred
Dollars ($5O0.O0) each, be numbered
consecutively from 1 to 120. both in
elusive, and mature without any right
of prior redemption on April LIST in
each year as follows, to-wit:
a bonds of $4,000 each, numbered
l to a, inclusive. due April 1, 1871.
4 bonds of $4,000 each. numbered
D to ., inclusive. due April 1. 1912.
4 bonds OF $4,000 each, numbered
9 to IL, inclusive, due April /, 1943.
4 bonds of $4,000 each. numbered
ID to 16. inclusive. due April /, 1914.
5 bonds of $500. 90 each, numbered
II to II, inclusive, due April 1, 1945.
5 bonds of $500. 90 each, numbered
% to 26. inclusive, due April /, 1916.
s bonds of $500. 90 each, numbered
81 to 81, inclusive. due April I, 1917.
s bonds OF $500. 90 each, numbered
80 to SO, inclusive, due April /, 194S.
6 bonds of $4,000 each. numbered
81 to AZ, inclusive. due April 1, 1949.
6 bonds of $500. 90 each, numbered
4S to 4S. inclusive. due April /, 1850.
6 bonds of $500. 90 each, numbered
40 to 81, inclusive. due April 1, 1851
6 bonds of $780, 90 each. numbered
SIS to go, inclusive. due April 1, 1852.
z bonds of $4,000 each. numbered
81 to 81. inclusive, due April /, 1858.
z bonds of $4,000 each, numbered
6S to IA, inclusive, due April 1, 1854
7 bonds of $4,000 each, numbered
70 to 81. inclusive, due April 1 1855.
Z bonds of $4,000 each. numbered
81 to So. inclusive. due April 1, 1856.
8 bonds of $500. 90 each, numbered
80 to 96. inclusive, due April i, 1857.
8 bonds of $500. 90 each, numbered
81 to 104, inclusive, due April 1, 1858.
8 bonds OF $500. 90 each. numbered
los to liz. inclusive. due April /, 1859
8 bonds OF $780, 90 each. numbered
113 to 120. inclusive. due April 1, 1860.
SECTION 8. That the aforesaid
bonds and the interest coupons to be