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

3
AN ORDINANCE AUTHORIZING
THE ISSUANCE AND SALE OF
SIXTY THOUSAND DOLLARS
(s60, 900. O0) OF SCHOOL BONDS OF
THE CITY OF DURANT, MISSIS-
SIPPI, FIXING THE DATE, DEMON
NATION, MATURITTES, INTER
EST RATE AND FORM THEREOF,
AND FOR OTHER PURPOSES.
WHEREAS, heretofore on the Goth
day of February, 1910, this Board.
by resolution duly adopted and enter
ed on its minutes, found, determined
and adjudged:
(a) That the City Of Durant, Mis-.
sissippi, is a duly and lawfully Gre
ated municipality of the State OF
Mississippi.
CD That the total number Of quail
filed electors residing within the
corporate limits of the said munich
pality and qualified to take part in
an election touching the issuance OF
bonds of said City is 40.
(c) That on the End day Of August,
1888, this Board, by resolutions re-
corded In Minute Book Is, at pages
s. and 81, determined, found and
adjudged that the erection Of a new
school building was necessary for the
efficient operation of the school Of
said Durant, an dthat the said neces
sfty then continued to exist.
(d) That the estimated cost Of
erecting and equipping such 9
school building adequate and suitable
for the needs OF the said munich
pality Is the sum OF $%110,0o0!0o. of
which amount approximately $4,000. 06
can be financed by securing a grant
from the United States of America
through It's agency the Works Pro
gress Administration. and that 1t will
be necessary to issue the bonds Of
said City Of Durant in the amount
of $780, 0 90 to make available the
above mentioned total amount neces-
sary.
(e) That under the terms and pro-
visions of the Laws OF the State OF
Mississippi, Senate Bill No. Is. First
Extraordinary Session Of the Mis-
sissippi Legislature Of 1898. this mu
nicipality is authorized and empower
ed to issue bonds for the erection
and equipping OF a school building
In such amount as will not exceed
twenty-five per centum (25 per e
OF the total assessed valuation OF the
taxable property within aid MUM.
cipality, when the amount of such
bonds so issued Is added to the to-
tai outstanding bonds OF said mu-
nicipality, provided, however, that this
authority and power only exists IL
cas- forty-five per cent (45 per cent
of the cost OF said building Is sup
piled by the Federal Government or
any agency thereof by way Of labor.
material or funds; that said proper
ton OF the cost OF erecting and
equipping said school building, being
available from the Federal Govern
ment.
90 That the Mayor and Board d
Aldermen of the said City of Durant
issue It's bonds In the amount OF
$50, 0OO. 90, which mount the said
Mayor and Board determines and ad.
Indicates will not exceed, when added
to the total outstanding indebted
ness Of said City of Durant Is per
cent Of the assessed value OF the
property within the said City accord
ing to the last complete assessment
thereof for taxation; and that said
bonds be issued for the purpose OF
erecting. equipping and furnishing a
municipal school building. not eS'
ceeding said amount; and
WHEREAS, by the same resolution
this Board declared it's intention TO
issue and sell bonds of the said City
of Durant in the said mount OF
$50, 000.0 90, for the purpose of erecting
furnishing and equipping a school
building in the said City. and called
and ordered an election to be held
at the City Hall in the City OF Du.
rant, on the 10Th day OF March, 1910
to determine whether the said bonds
should be issued and sold; and
WHEREAS, thereafter said cleo
ton was duly and lawfully held and
a due report thereof made to the
Board by the Election Commission
ers of the City Of Durant in the
manner and form required by law
and
WHEREAS, on this the 21st day Of
March, 1910, by resolution duly adopt
ed and entered on its minutes, this
Board approved said returns and or
dered it recorded on its minutes;
and
WHEREAS, by the same resolution,
this Board found. declared and ad-
judged that said election had been
duly and lawfully held and conduct
ed In accordance with and in CON
tormity to the statutes in such cases
provided and in accordance with the
previous order of this board. after
due and legal notice thereof given
and published as required by law
and that at said election more than
a majority Of the qualified electors
residing in the City Of Durant had