The Chronicle-star combined with the Moss Point advertiser., 1944-06-30


10 issue the same without the
necessity OF having an election
on said question, and this Board
further finds that the issuance Of
.he said bonds in the sum OF Thirty
Thousand (s30,000.00) Dollars for
street improvement and paving
purposes when added to the pres
ent outstanding bonds of the
City of Pascagoula, Mississippi,
viii not cause .he Aeaded i'm
debtedness Of the said City Of
Pascagoula to exceed ten per cent
u0@o) of the assessed value of all
the taxable property within the
said Municipality according to
the last completed assessment for
taxation, including bonds issued
for waterworks purposes, and
there being no bonds outstanding
heretofore issued for light pur-
poses or for the construction of
special Improvements primarily
chargeable to the property bene-
fitted, OF for the purpose of paw
ing the City's portion Of any bet
terment program, d portion of
which is primarily chargeable to
the property benefited, and this
Board further finds that the is
suance Of the said bonds in said
amount will not cause the indebt-
edness Of the City OF Pascagoula,
Mississippi, when added to ell
outstanding Indebtedness, both
bonded and floating, to exceed
twenty per cent (20%s1 of the as
sessed value of all the taxable
within the said Munich
pality, according to the last COM
pieted assessment rolls or other
wise, and that the issuance Of
said bonds viii not cause the
bonded Indebtedness of the said
City 10 exceed any other liinits-
tion now imposed by Jaw against
the issuance of said bonds of The
said City or against the inereas-
ing of its indebtedness; and,
Whereas, the Board of Mayor
and councilmen Of the City of
FHscagoula. Mississippi, has been
and Is now fully authorized to
issue and sell the said bonds, and
this Board now finds and deter-
mines that many of the existing
streets of the City are in need Of
improvements in the way OF
hardsurfaee pavement being
placed thereon, pavement on
many OF the existing streets be-
ng in need Of replacement and
repair and that il is 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; and,
Whereas, the City has at this
Iime available funds which can
Dc used for said purpose in the
sum of approximately $40, ,4bl.94,
and il Is necessary that il provide
the additional sum Of $30,00000
for the said purpose, which said
sum cannot be had from the cur
rens revenues of the city either
from taxation or other sources.
and the issuance of the bonds
authorized is neees-
5ary Ia order TO provide the bal
ance of the monies necessary to
do the said work; and,
Whereas, ii would be to the
bes. interest Of the said Munich
pality and the inhabitants there
oi that the said bonds be issued
and the proceeds Of same be
used in the making Of improve
ments and paving the public
streets and avenues OF the City
Of Pasoagouls, Mississippi; and,
Whereas, ali acts and condi-
tions precedent to the issuance of
the said bonds required by the
provisions of the laws OF the
State of Mississippi and 0rdi-
of the City OF Pascagoula,
Mississippi, applicable thereto,
have been fully complied with by
the Board of Mayer and Council
men Of the City of Psscagoula.
Mississippi.
NOW, THEREFORE, BE IT
BY THE BOARD OF
MAYOR AND COUNCILMEN OF
THE CITY OF PASCAGOULA.
MISSISSIPPI:
Section |. That there be issued
and sold in the name of ana On
behalf Of the City Of Psscagoula,
Mississippi. the negotiable bonds
Of The City of Paseagouls, Mis-
sissippi. in the principal sum of
Thirty Thousand (S30,00000) Dol-
isrs for the purpose of improving
and paving the public streets and
avenues of the City of Pasea-
goula, Mississippi.
Section 2. That each of the
said bonds shall be designated
as Street Improvement and Paw
ing Bond; each Of same shall De
da.ed June |. 1914, shall bear IN
terest at a rate not exceeding six
per cent (69s) per apnum. 10 be
determined by resolution of this
Board payable semi-annually be-
ginning December /, 1914. and
on June 1st and December 1st
Of each year after their dale. and
shall be payable at the Whitney
National Bank, in the City OF