The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1946-07-11


School District cnd with which to
repair the public school buildings
used by the colored educuhle chill
dren of soid Seporute School Dis
49,. o4.a with which 10 repair en-
isting equipment in suid buildings
and TO purchase additional equip
msnt for use in said buildings.
and cullinq ON election TO deter
mine whether or not the qualified
electors Of the City of Lexington
Separate School District authorize
the issuance of soid bonds of suid
Separate School District and pro-
viding for notice of such election.
Whereas, the Board of Mayor and
Aldermen of the City Of Lexington,
Mississippi, does now find that it
will be to the best interest of the
City of Lexington Separate School
District of Holmes County, Missis-
sippi, that there be erected and
equipped a building to be used for
giving vocational training and teach
ing Home Economics, for use by the
white educable children of said
Separate School District, and that
there be erected a teachers home
for use by the white teachers en-
ployed by said Separate School Dis
trict, and that the grammar school
building and high school building
used by the white educable children
of said Separate School District be
repaired and that the public school
buildings used by the colored edu-
cable children of said Separate
School District be repaired and that
the existing equipment in all of said
school buildings be repaired and
that additional equipment be pur-
chased for use in said school build
lings: and
Whereas, said Board does now
find that the yum of SIS. 000.0 90 will
be required for said purposes, and
that said Separate School District
now has no funds available for such
purposes, and that the serial bonds
of said Separate School District
should be issued for the purpose of
obtaining funds for such purposes,
and that said purposes for which
said bonds are proposed to be issued
are of objects authorized by law;
and
Whereas, the Indebtedness of the
City of Lexington Separate School
District of Holmes County, Missis-
sippi, including the whole amount of
said proposed bond issue of SIS, 000.-
90, does not exceed 15% of the
assessed valuation of property in
said City of Lexington Separate
School District of Holmes County,
Mississippi, as ascertained by the
last completed assessment of prop
erty in said Separate School District
for taxation; and
Whereas, the Board Of Mayor and
Aldermen of the City of Lexington,
Mississippi, has investigated and
does now determine that only 636
qualified electors residing in said
City of Lexington Separate School
District of Holmes County, Missis-
sippi. are qualified to take part in
such bond issue election; and
Therefore, Be 1t Resolved by the
Board of Mayor and Aldermen of
the City of Lexington, Mississippi:
Section I
That the Board of Mayor and
Aldermen of the City of Lexington,
Mississippi, does hereby declare the
intention of said Board to issue the
bonds of the City of Lexington Sep
arate School District Of Holmes
County, Mississippi, in a sum not
exceeding $75,000.00 for the purpose
of obtaining funds with which to
erect and equip a building to be
used for giving vocational training
and teaching Home Economics, for
use by the white educable children
of said Separate School District, and
with which to erect a teachers home
for use by the white teachers en-
ployed by said Separate School
District, and with which to repair
the grammar school building and
high school building used by the
white educable children of said Sep
arate School District and with which
to repair the public school buildings
used by the colored educable chill
dren of said Separate School Dis
trict and with which to repair exist
ing equipment In said buildings and
to purchase additional equipment
for use in said buildings, which
bonds shall be serial bonds maturing
annually, with all maturities not
longer than twenty-five years, with
not less than one-fiftieth of the total
issue to mature each year during the
first five years of the life Of said
bonds and not less than one-twenty-
fifth of said total issue to mature
dlllludlly QuIlilS Tie ~uCCGeu1IlS tell-
year period of the life of said bonds
and the remainder to be divided into
approximately equal payments, one
payment to mature during each year
of the remaining life of said bonds,
said bonds not to bear a greater
rate of interest than six per cent
per annum payable semi-annually,
all in conformity with and in accord
ance with the Constitution and Laws
of the State of Mississippi govern
ing the issuance of such bonds.
eog Section II
Be It Further Resolved that an
election be held in the City Hall in
the City Of Lexington, Holmes
County, Mississippi, on Tuesday, the
30th day of July, 1916, to determine
whether or not a majority of the
qualified electors of the City of Lex
ington Separate School District of
Holmes County, Mississippi, author
ize the issuance of said bonds and
that the Clerk of the City of Licking
ton, Mississippi, do give notice TO
the Election Commissioners of the
CITY of Lexington, Mississippi. re-