The Chronicle-star combined with the Moss Point advertiser., 1944-12-08
RESOLUTION mo. .. le44

ifllttilE 10 the QudlillGu EltItDIS
of the City Of Pascagoula, Missis-
sippi, the question of the issuance
of $35 10000 Bonds of the City
of Pascagoula, Mississippi, to the
payment of which shall be
pledged the full faith and credit
of the City Of Pascagoula, Missis-
sippi, and the proceeds of which
shall be used to supplement the
Federal Grant to be made by the
Federal Works Agency, under
Project Mississippi No. 22-209 (N).
for the construction of Recreation
al Facilities in the City Of Pas
cagoula, Mississippi.
Whereas, the City of Pascagou-
la, Mississippi, is situated within
d defense area as determined by
Proclamation Of the President of
the United States of America
heretofore issued; and,
Whereas, due to the large in
crease in population of the said
City of Pascagoula, Mississippi,
attributable to the operation of
the defense industries within its
corporate limits, the existing ia
cilities for wholesome recreation
are totally inadequate; and
Whereas, the Federal Works
Agency of the United States of
America has heretofore offered
to make a grant to the City of
Pascagoula in the sum of $1f7,-
10000, for the purpose of con-
~structing recreational facilities in
the said City consisting of two re-
irrational eenters or auditoriums,
additions to the Beach Park pa
Wilton, four Fairgrounds or parks
and for the purpose of acquir-
ing. improving and coupling
such lands as may be necessary
therefor; and,
Whereas, the City has hereto
fore caused an estimate of the
cost of construction of the said
projects to be made, and the total
cost is estimated at the sum of
$3.50. 100000, and the said offer of
the said Federal Works Agency
is conditional on the balance of
the said cost being provided by
the City of Pascagoula; and.
Whereas, by subscriptions and
private donations there has here
tofore been raised a considerable
sum of said monies, and there will
be raised by said means the sum
of approximately $28, 1000 90. but
II is necessary that the additional
sum of $35, 100000 be provided by
the City of Pascagoula, Missis-
sippi. for said purpose; and,
Whereas, the said sum cannot
be had from the current reve-
nues of the City from either tax
alton or other revenues, and there
r at present no funds availa-
BILE for said purpose, and the bal
ance of said cost, viz, $35, 000. 90.
will have to be financed by the
issuance of bonds of the City of
Pascagoula, Mississippi; and,
Whereas, the Board of May
or and Councilmen of the City
of ~Pascagoula have found and do
now find that the construction
of the said Projects is necessary
for the protection of the public
health, safety and welfare of the
inhabitants of the City, and furth-
err find that the City is fully
authorized under the provisions
of Sections 3466 to 3469, inclus-
i've, to issue the said bonds for
the said purposes, provided the
issuance of same is authorized by
a majority of the qualified cleo
tors voting in an election to be
called and held for said purposes;
and,
Whereas, the Board of the Mayor
and Councilmen find and deter
mine that the said bonds in the
sum of SIS, 10000 when issued
in said amount and added to the
present outstanding bonds of the
City of Pascagoula, Mississippi,
will not cause the bonded indebt-
edness of the said City of Pasca-
goula, Mississippi, to exceed 1915
of the assessed value of the tax
able property within the said
Municipality according to the last
completed assessment for taxa
ton, excluding however, bonds or
other evidence of Indebtedness
heretofore issued for water and
light purposes, and for the con
struetion of special improve
ments chargeable to the prop
erty benefited or for the
purpose of paying the City's
proportion of any betterment
program, a portion of which
is primarily chargeable to the
property benefited, and this
Board further finds that the is
suance of said bonds will not
cause the indebtedness of the
City of Pascagoula, Mississippi,
when added to the outstanding
indebtedness. both bonded and
floating, to exceed 20% of the as
sessed value of all the taxable
property within the Municipality
according to the last completed
assessment roll or otherwise, and
the issuance of said bonds in said