The Chronicle-star combined with the Moss Point advertiser., 1944-05-19
BOARD OF MAYOR AND
|COUNCILMEN OF THE CITY OF
IPACCACOIU,A MISSISSIPPI. =

1"
Mayor and Councilmen of the
lefty of Pascagoula, Mississippi,
as follows: =
(a) That many of the existing
streets of the City are in need
of improvements in the way OF
hardsurface 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
tb) That the Board of Mayor
and Councilmen of the City of
Pascagoula, Mississippi, have
caused an estimate of said pro-
posed pavement to be made, in
Guiding the cost of acquiring the
necessary materials therefor and
laying same, and which said es-
innate totals $50, 451. "a, as shown
by the estimate made and filed
by d. j. Simmons, City Engineer
of the City, and plans and speci-
fieations thereof, and which said
estimate and plans and specifi-
cations are on file in the office
of the City Engineer in the City
of Pascagoula, Mississippi.
lei That the City has at this
time available funds which can
be used for said purpose in the
sum of approximately $20,451.94 4,
and it is necessary that it pro-
vide the additional sum of $780,
10000 for said purpose, which
said sum cannot be had from the
current revenues of the City eth
er from taxation or other sour
ces, and there are at present no
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
eagoula, Mississippi.
I'D That the issuance of said
bonds for the said purposes has
been and is now fully authorized
under the provisions of Sections
2483 to 2492, inclusive, of the
Mississippi Code of 1880, and
amendments thereto and Other
applicable statutes of the State
of Mississippi.
(e) That the said bonds when
issued in the said amount of
$40, 100000 and added to the pres
ent outstanding bonds of the City
of Pascagoula, Mississippi, will
not cause the bonded indebted7
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
pality according to the last COM
pleted assessment for taxation,
including bonds issued for water
works purposes, and there being
no bonds outstanding heretofore
issued for light purposes or fer
the construction of special inn
provements primarily chargeable
to the property benefited, OF for
the purpose of paying the City's
portion of any betterment pro-
gram, a portion of which is pri-
marily chargeable to the proper
ty benefited. and this Board fur
Their finds that the issuance of
the said bonds will not cause the
indebtedness of the CITY of Pas
eagoula, Mississippi, when added
10 all outstanding indebtedness,
both bonded and floating, to ex-
coed twenty per cent of the as
sessed value of all the taxable
property within the said Munich
pality, according to the last COM
pieted assessment roll or other
wise, and that the issuance Of
said bonds will not cause the
bonded indebtedness of the said
City to exceed any other limita-
ton now imposed by law against
the issuance of the bonds of the
said City or against the increas-
ing of its Indebtedness.
ID That the City of Pascagou-
la. Mississippi is a municipal
corporation of the State of Mis-
sisslppi, and has a population of
less than fifteen thousand inhab-
itants according to the last off
cial census. and there are now
Eleven Hundred and Three Quail
ified electors residing in the
City qualified and authorized to
vote upon the issuance of the
said bonds, in the event of
an election on the question
OF whether or not the said
bonds shall be issued and sold.
that the proposed bonds are
IN amount of not more than $780,.
000.0O and the said City is asi-
thorized under the provisions of
Section 2490 of the Mississippi
Code of 1880 as amended BY
Chapter $50 of the Laws of 1912
of the State of Mississippi to is
sue the said bonds without an
election thereon, by publication
OF this resolution for three weeks.
declaring the intention of the
Board OF Mayor and Councilmen
OF the City of Pascagoula, Mis-
sissippl, to issue same, unless a
nr0fRC4 in uyrtftpu -n~-l " ano-A