The Durant news. (Durant, Miss.) 1882-1985, 1948-10-21

re-constructing the same for use
of the said school district as such
gymnasium and physical educa-
ton building, is the sum of
100000, and that said method
of providing such building for
the said school district is the
most economical method by
which the same may be provided;
and that it is to the best interest
of the said City of Durant, and
said school district to issue the
bonds of said municipality in the
sum of Twenty Thousand Dollars
($20,00000) for the purpose of
purchasing a suitable building
from the United States of Ameri-
ca through its agency, War AS
sets Administration. dismantling,
transporting to the said City Of
Durant School grounds, and re-
erecting same for use as such
gymnasium and physical educa-
ton building by said district; and
WHEREAS, it appears unto
this Board, and this Board so
finds, determines and adjudges
that the issuance of said bonds
is for a lawful purpose, and that
all acts, conditions and things re-
qiured by the constitution and
laws of the State of Mississippi
to be done precedent to and in
the issuance of the said bonds
have been properly done, happen
ed and been performed in regular
and due form and time required
by law.
Now Therefore. Be II Ordoin.
ed BY The MdYor And Board
Of Aldermen Of The City
Of Durunt. Mississippi:
SECTION /. That for the pur-
pose Of purchasing and procuring
a building from the United States
of America through its agency,
War Assets Administration, suit
able for gymnasium and physi-
cal education building, dismant-
ling and transporting such
building from its present
site rat Camp Mccain,
Mississippi. to the Durant, Mis-
sissippi, school grounds and re-
constructing the said building on
said school grounds for the use
Of the separate municipal school
district Of said City of Durant.
as a gymnasium and physical
education building, there be is
sued and sold bonds Of the City
of Durant, Mississippi, in the a.
mount of Twenty Thousand Dol
lars. ..,. .t.... -,.. ....
SECTION 2. That said bonds
shall be designated, Getty of
Durant School Bonds of 1948,"
be autographed or engraved and
printed in two or more colors
to prevent counterfeiting, be
dated November LIST, 1948, be
be payable to bearer, be payable
as to both principal and interest
in lawful money of the United
States of America at the City
Depository Of the City of Durant,
Mississippi, bear interest from
their date not exceeding (6%)
six per centum per annum, pay
able semi-annually on May 1st
and November LIST in each year,
be signed by the Mayor of the
City of Durant. Mississippi, and
countersigned by the Clerk of
the said City, with the seal of
the said City impressed thereon,
be in denominations of Five
Hundred Dollars ($500.0O) each,
be number consecutively from l
to 40, both inclusive, and mature
without any right Of prior re-
demption on November LIST in
each year as follows, to wit:
3 bonds OF $4,000 each. numbered
to 8 inclusive, due Novem-
Der l, 1949.
bonds of $4,000 each, numbered
9 to 16, inclusive, due No
vember l, 1850.
bonds of $4,000 each, numbered
II to "a, inclusive, due No
vember l, 1851.
8 bonds of $4,000 each, numbered
Is to 80, inclusive, due No
vember l, 1852.
bonds of $4,000 each, numbered
33 to 40, inclusive, due No
vember l, 1858.
SECTION 8. That the afore-
said bonds and the interest cou-
pons to be attached thereto shall |
be in substantially the following
form RI u,;f.