The Chronicle-star combined with the Moss Point advertiser., 1944-06-02
RESOLUTION NO. LISA

BOARD OF MAYOR AMI
acCUNCILMEN OF THE CITY OF
PASCAG0ULA, MISSISSIPPI
TO ISSUE AND SELL THE NE
GOTLABLE BONDS OF TIL
CITY OF PASCAGOULA, MIS-
SISSIPFI, IN A TOTAL SUM OF
NOT EXCEEDING THIRTy
THOUSAND $3.50, ,000,06) DOL
LARS, TO THE PAYMENT OF
WHICH SHALL BE PLEDGEI
THE FULL FAITH AND CRED
IT OF THE CITY OF PASCA
GOULA, MISSISSIPPI, AM
The PROCEEDS OF WHICE
SHALL BE USED FOR TIL
PURPOSE OF IMPROVING AMI
PAVING THE PUBLIC STREETS
AND AVENUES OF THE CITY
OF .PASCAGOULA, MISSISSIP
RI. AND ACQUIRING THE NE.
CESSARY MATERIAL FOF
SAID PURPOSE.
BE TT RESOLVED BY THE
EOAHD OF MAYOR AMI
CQIJNcILMEN OF THE CITY or
PASCAGOULA, MISSISSIPPI.
Section /. Whereas, il is found
and determined by the Board Of
Msyor and Cduncilmen Of the
City Of Pascggoula. Mississippi,
IS follows: -
ta) That many Of the existing
streets Of the City are in need
OF Improvements in the way Of
hsrdsurface pavement being
placed thereon, pavement on
many OF the existing streets be-
ing in need of replacement and
repair. and it being necessary to
extend the pavement on other
streets. some Of which are not
paved at this time and others
on which portions of same are
paved.
(b) That the Board of Mayor
and Councilmen of the City of
Paseagoula, Mississippi, have
caused an estimate of said pro-
posed pavement to be maoe, IN
the cost of acquiring the
materials therefor and
aging same, and which said es-
innate totals $50, 45l.94, as shown
1y the estimate made and filed
oy d. j Simmons, City Engineer
IF the City, and plans and epeci-
thereof, and which said
estimate and plans and specifi-
cations are on file in the office
of the City Engineer in the City
Of Psscagoula, Mississippi.
(cl That the City has at this
time available funds which can
be used for said purpose in the
sum Of approximately $50, ,45l.94,
and it is necessary that it pro-
vide the additional sum of $780,
00000 for said purpose, which
said sum cannot be had from the
revenues of the City eith-
er from taxation or other sour
eeS and there are at present nc
funds available for said purposes
and the balance of such cost will
have to be financed by the issu-
ance of bonds of the City of Pas
eagouls, Mississippi.
Cd That the issuance of said
bonds fer the said purposes has
been and is now fully authorized
under the provisions of Sections
24sS to 2492, inclusive, of tbs
Mississippi Code of 1880, and
amendments thereto and other
applicable statutes of the State
Of Mississippi.
tel That the said bonds when
issued in the said amount OF
SS0,000-00 and added to the pres
ent outstanding bonds Of the City
Of Pssca gouia, Mississippi, will
not cause the bonded indebted
ness of the said City Of Pasca-
goula to exceed ten per cent OF
the assessed value of the taxable
property within the said munich
paiity according to the last com
pletsd assessment for taxation
including bonds issued for water
works purposes, and there being
no bonds outstanding heretofors
issued for light purposes or for
the construction Of special. i'm
proveinents primarily chsrgeabls
tu the property benefited, or fol
the purpose of paving the City:
portion of any bsttsrmsnt pro
gram, 5 portion of which is pri.
msrily chargssble to the proper
y benefited, snd this Board fur
tner finds that the issuance o.
the said bonds will not cause tbs
Indebtedness of the City of Pas.
esgoula. Mississippi, when sidec
10 sll outstanding indebtedness
both bonded and floating, to ex
eeed twenty per cent Of the as.
sssssd value of sl1 the taxable
property within the said Munich
pality, according to the last com
pleted assessment roll or other
wise, and that the issuance o
said bonds win not cause tn,
bonded Indebtedness of the sait
City to exceed any other limits
ton now imposed by law agains
the issuance of the bonds of. tn.
said City or against the increas
ing of its indebtedness.
Cd That the City Of PaScsgou
L. Mississippi. is a municips
corporation Of the State of Mis-
sissippi. and has a population o