The Chronicle-star combined with the Moss Point advertiser., 1948-08-06
REsoLurroN NO. 1. ls4s

NJ. IL 1883
A Resolution declaring the intention
of the Board of Mayor and Council
men of the City of p~ascagouia. Mis-
sissippi. TO Issue Negotiable Bonds
OF said City In the maximum amount
OF Thirty Thousand Dollars ts3o. ooo)
for h purpose Of paving Jackson
Whereas, the Board of Mayor and
Councilman Of the City of Pascagoula.
Mississippi. having made due inves-
tigstion. finds and declares:
1. That it is necessary to pave
Jackson Avenue from the East mar
gin of South P~ascagoula Street TO the
West margin of South Market Street:
2. That an estimate of the cost of
such improving and paving has been
made and such cost has been found
TO be Thirty Thousand Dollars $780,
3. That there are at this time no
funds available In the City Treasury
for the payment of such costs: md
WHEREAS, this Board of Mayor and
Councilmen further finds and de-
c1ares:
taxable property in the City of Pas
cagoula, according TO the last COM
pieted assessment Is Five Million Eight
Hundred and Sixty-One Thousand Nine
Hundred and Fifteen Dollars (S5,86i.-
915.00l: .
=. lndI the IOtdl indebtedness u
said City is Two Hundred and Eleven
Thousand Dollars fs211 900 .00).
g.. That the amount of bonds pro
posed to be issued, namely. Thirty
Thousand Dollars fs30000). when added
10 the outstanding bonds of said City.
after dedueting all bonds and other
obligations of indebtedness heretofore
issued for water and light purposes
sewerage. and construction of special
Improvements primarily chargeable to
the property benefited, or for the
purpose of paying the City's proper
ton of any hetterment program. a por-
ton of which Is primarily ~charReable
to the property benefited does not ex-
coed ten per centum (10es) of the
assessed value of all taxable property
in said City according to the last
completed assessment for taxation:
and that such amount of bonds pro-
posed to be issued. when added to all
outstanding indebtedness. both bonded
and floating does not exceed fifteen
DER centum 1850 of the aforesaid val
ne of taxable property In said City;
and
WHEREAS. this Board of Mayor and
Councilmen further rnGs ana declares
that the population OF The CITY Of
~Pascagoula, according TO the last Fed.
eral census. Is less than 5000: and
that the amount of Indebtedness pro-
n0sed IN be incurred does not exceed
Thirty I00ffSdpQ DOifdrS ts3Ds UDuls anu
WHEREAS. this Board of Mayor and
councilmen further finds and declares
that under Title is. Division 10 of the
Mississippi Code of 1912 and amend
ments thereto, IL is now fully author
lied and empowered to declare its in
tention to issue bonds of the City Of
Paseagoula. Mississippi. in the amount
If Thirtv Thousand Dollars 1880 l000)
for the purpose of paving Jackson
Avenue in said City from the East
line of South Pazcagoula Street TO
the West line of South Market Street
without an election and upon the pub
LEGATION of this resolution declaring
such intention and ~ authorize the is
suance OF such bonds on a date TO be
determined in this resolution, unless
twenty per centrum t20etl of the quail
flied electors of the City of PascaRou-
la file a written protest against the
issuance of said bonds on or before
said date. and that il is for the best
interest of said City to issue said
bonds.
NOW. THEREFORE, BE IT RESOTv-
Fn nv THE BOARD OF MAYOR AND
Ir0IFNru MEN 0F CITY Of PAS
cAGoULA. MISSISSIPPI. AS FOL
LOWS:
SECTION l. That this Board of
Mayor and Councilmen hereby de-
ciares its intention TO issue h e bonds
OF the CITY Of Pascasoula, Mississippi.
IN the uaxiwum amount of Thirty
Thousand Dollars $50 O00l for the uur-
pose Of improving and paving Jackson
Avenue in said City Of Paseagouia.