The Durant news. (Durant, Miss.) 1882-1985, 1946-11-28

atively found that the City of Du.
rant, Mississippi, is entitled to come
within the provisions of such Act
and has issued said Certificate o.
Public Convenience and Necessity
as above quoted; and
WHEREAS, in said Certificate the
Mississippi Agricultural and In
dustrial Board has fixed the amount
of said bonds to be issued in the
sum of sixty thousand dollars
($60, 000. 00) and has determined that
the amount Of taxes necessary t.
be levied and collected annually tc
retire said bonds shall be in ar
amount of not less than the amount
of principal and interest due dur.
ing each year until said bonds and
interest thereon are paid in full
and has fixed the maturity dates Of
said bonds in series over a period
of twenty (20) years as set forth in
Certificate; and
WHEREAS, by said Certificate il
any lease or contract for the operat-
ion of said Industrial enterprise in
excess of the amount which would
be received under the existing con-
tract with Real Silk Hosiery Mills
Inc, for the operation of such in
dustrial enterprise shall be pledged
for the payment of said bonds, as
provided in Section 10, Of Chapter
241, Laws of 1914; and
WHEREAS, the City of Durant
Holmes County, Mississippi, is de-
sirous of coming within the provis-
ions Of said Chapter 241, Laws OF
Mississippi of 1914, and of issuing
the bonds pursuant thereto and OF
entering upon industrial develop.
ment in accord with said Certificate
issued to said municipality by the
Mississippi Agricultural and Indus.
trial Board, authorizing said NUM-
cipality to make additions and i'm
provements to its said existing in
dustrial building.
NOW Therefore, Be It Resolved
by the Mayor and Board of Alder
men Of the City of Durant, Holmes
County, Mississippi, that the said
Mayor and Board do hereby and
now declare the intention of said
Board of issuing the bonds of the
City of Durant, Holmes County,
Mississippi, in the sum of sixty thou
sand $3.50, 1000. 00) dollars, which
amount the said Mayor and Board
affirmative1y finds and adjudicates,
as set forth in the above quoted
Certificate will not exceed twenty
per centum (20%) of the assessed
value Of the taxable property OF
the City of Durant, Holmes County,
Mississippi, as provided in Chapter
241, Laws of Mississippi of 1914, and
that. such bonds shall be issued for
the purpose of constructing additions
to, making improvements on, and
generally enlarging the industrial
building and property owned by the
said City OF Durant and now under
lease to said Real Silk Hosiery
Mills, Inc, and leasing the same for
use as a textile or hosiery manu-
featuring factory or plant, all as set
forth in said Certificate.
BE 1T FURTHER Resolved, that
the election commissioners and the
City Clerk of the City of Durant,
Holmes County, Mississippi, shall
give not less than three weeks
notice of an election to be held on
said proposition, such notice to be
by publication of a notice thereof in
The Durant News, a newspaper pub
lished in Durant, Holmes County,
Mississippi, once a week for three
consecutive weeks preceding the
date of the election, which said
election shall be held on December
10, 1916, at the City Hall in the City
of Durant, Holmes County, Missis-
sippi. At said election all of the
qualified elecors of said municipal
iy may vote, and in said election the
said election commissioners shall
prepare ballots, which said ballots
shall have printed thereon substan-
tally the following:
"Shall the bonds Of the City OF
Durant, Holmes County, Mississippi,
be issued in the amount of sixty
thousand $3.50, 100000 dollars for the
purpose of constructing additions to,
improving, expanding and enlarg-
ing the textile or hosiery manufact-
uring building owned by said City
Of Durant, and acquiring, owning
and/or leasing to some reputable
concern the said building, adj
ditions, improvements and the lane
in connection herewith, for said
municipality as a municipal indus
trial enterprise.
For the prOpoSal-