The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1948-07-29

"a RESOLUTION PROVIDING
FOR THE ISSUANCE OF GER
TIFICATES OF INDEBTED
NESS OF THE CRUGER CON-
SOLIDATED SCHOOL DIS
TRICT IN THE SUM OF 49,
10000 FOR THE PURPOSE OF
REPAIRING THE SCHOOL
BUILDING AND TEACHERS
HOME BELONGING TO SAID
SCHOOL DISTRICT.
WHEREAS, the Cruger Consoli-
dated School District of Holmes
County, Mississippi, has been legal
ly created, formed and organized
and is now a valid, legal and exist
ing consolidated school district in
which authority to transport pupils
, is granted and contains an area of
not less than twenty-five square mil
es lying wholly in Holmes Couny,
Mississippi, and formed by consoli-
| dating two OF more districts or
parts of districts; and
WHEREAS, said Cruger Consoli-
| dated School District owns a school
building used for the education of
the white educable children of said
school district, and also owns a
teachers home used by the teachers
employed by said district, to teach
the white educable children of
said school district. which
said buildings are situated in the
Town of Cruger, Holmes County,
Mississippi; and
WHEREAS, it is necessary to in
tall a Butane Gas Heating System
| in said school building and teachers
home and it will be necessary to
expend 100000 for labor and
materials for such purpose; and
WHEREAS, said school building
is in need of repair and it will be
necessary to expend $4,000 for la
Dor and materials for such purpose;
and
WHEREAS, it is necessary that
the sewerage disposal drains of
said school building be repaired and
changed and it will be necessary to
expend 100000 for labor and ma
terials for such purpose; and
WHEREAS, no funds are avail
able from the maintenance fund of
the Cruger Consolidated School
District, or from any other source,
with which to make the aforesaid
| repairs and improvements which are
necessary; and
WHEREAS, it is necessary that
the Cruger Consolidated School
| District borrow the sum of $3,500.00
for the purpose of paying for the
aforesaid repairs and improvements
and labor; and
WHEREAS, the sum of S 3,500.0O
proposed to be borrowed. when add
ed to the present outstanding in
debtedness, both bonded and float
ing, of the Cruger Consolidated
School District, will not result ir
the imposition upon any of the pro-
perty in the Cruger Consolidated
School District Of any Indebtedness
for school purposes of more thar
ten per centum of the assessed va
luation of such property, as ascer'
tanned by the last completed assess
ment for taxation; now
THEREFORE, BE 1T RESOLVED
by the Trustees of the Cruger Con.
solidated School District:
Section I.
That by and with the consent
of the Board of Supervisors Of
Holmes County, Mississippi, the Cru.
ger Consolidated School District Of
Holmes County, Mississippi, do Dor
row the sum of $3,500.00 for the
purpose of paying for the afore'
said purchases of materials and fol
labor.
Section II.
That such loan be evidenced by
the Certificates of Indebtedness o!
the Cruger Consolidated School Dis
trict, and said Certificates of In
debtedness shall be dated August 2
l948. and shall bear interest from
date at the rate of four per centun
4T) per annum payable annual
ly, and shall be in denominations o.
$4,000 each and numbered from one
I'D to five go inclusive, and shall
be payable as follows:
No. l of said Certificates of
Indebtedness shall be due and
payable on August 2, l949;
' No. 2 of said Certificates of
Indebtedness shall be due and
payable on August 2, 1850;
No. 3 Of said Certificates of
Indebtedness shall be due and
payable on August 2, 1851;
No. 4 Of said Certificates of
Indebtedness shall be due and
payable on August 2, 1852;
No. 5 of said Certificates of
Indebtedness shall be due and
payable on August 2, 1858.
Section III.
That a copy of this resolution
shall be certified over the sigma