The Chronicle-star combined with the Moss Point advertiser., 1948-07-16

AASkN W. A9EU
a Resolution declaring the intention
of the Board of Mayor and Council
men of the City of p~ascaqcula. Mis-
sissippi, TO issue Negotiable Bond
of said City In the maximum amount
of Thirty Thousand Dollars ts3o.oool
tor the purpose of paving Jackson
Avenue in said City.
Whereas. the Board of Mayor and
Councilmen Of the City OF P~ascagoula.
Mississippi. having made due inves-
tigation. finds and declares;
/. That 1t 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
to be Thirty Thousand Dollars $780,
000);
3. That there are at this time no
funds available in the City Treasury
for the payment of such costs: and
WHEREAS. this Board of Mayor and
clares:
4. That the assessed valuation of
taxable property In the City OF Pas
cagoula. according TO the last com
pleted assessment is Five Million Eight
Hundred and Sixty-One Thousand Nine
a15. 00);
S. That the total Indebtedness of
said City Is Two Hundred and Eleven
Thousand Dollars f$21i ,0000 0l.
s. That the amount of bonds pro-
posed to be issued, namely. Thirty
Thousand Dollars ts30000). when added
to the outstanding bonds of said City,
after deductinR 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 paving the City's proper
ton of any betferment program, a por-
ton of which Is primarily c~hargeable
to the property benefited does not ex-
coed Ter per centum t10Tsl 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
per centum $3.50 of the aforesaid val
ne of taxable property in said City;
and
WHEREAS. this Board OF Mayor and
Gouneilmen further finds and declares
that the population of the City OF
~PascaRoula. according to the last Fed
eral census. Is less han 10000. and
that the amount of Indebtedness pro-
posed to he incurred Hoes not exceed
Thi-.v Thnt,sand Dollars fS30.000): and
W1EftEAos TINS bOdTU OF MdNOI anu
Couneilmen further finds and declares
that under Title IS. Division 10 of the
Miseissinpi Code of 1912 and amend
ments thereto, II is now fully author
lied and empowered to declare Its In
tention 10 issue bonds of the City of
Pascagoula. Mississippi. in the amount
Of Thirty Thousand Dollars $500 0
for the purpose of paving Jackson
Avenue in said City from the East
line of South PascaRoula Street to
tho West line of South Market Street.
without an election and upon the pub
~lication of this resolution declaring
such intention and TO authorize h is
s'Ianee Of such bonds on a date to be
determined in this resolution. unless
twenty Der centum (2nGfl 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
bondr.
Now. THEREFORE, RE TT RFsoLv-
Ell RY THE BOARD OF MAYOR AND
|cOIrNCTLMEN or TUE CITY OF PAS
|cAcoULA. MISSISSIPPI, AS FOL
Lows.
SECTION !. That this Board of
Mayor and Councilmen hereby de-
ciares its intention TO issue the bond
of the CITY Of -Paseaeoula. Mississtppt.
in the maximum amount of Thirty
Thousand Dollars 1880 000l for the our
nose of improving and paving Jackson
Avenue in said Citv of P~ascaROula,
from the Fast line Of South Pascagou-
Ia Street to the West line of South
Market Street: said bonds 10 bear in
terest at a rate within the limitations
fixed by law. to be hereafter determ-
ined hV this Board. and to mature az
such time or times and in such amount
or amounts. within the limitations
fixed bv law as shall hereafter be de-
tprmined ~ this Board: and for the
payment of such bonds the full faith,
credit and of the City of
~Pascagoula shall BE i~rrevocably pledg-
ed.
SECTION 2 That the Issuance of
said bonds will he authorized at a
meeting Of this Board to be held
AZ the CITY Hall IN the city of Pascs-
goula. Mississipni. at the hour of
three O'Clock P. NJ, on Friday. August
n. 1913. unless twenty per centrum
f90zl If the qualified electors of the
-itv OF pa7carnuIa file a written pr~
test aFainst the issuance of said bonds
or ~ before said date.
SECTION 3. That notice IS herehv
given thFt a written protest AGAINST
she isssiaaca Of said bonds NAV be
filed with the Clerk of the CITY Of
PascaPonia. and II such protest he
sisnad nv twenty oer centum f2o9sl
OF the qualified electors OF sasd Citv
and filed with the Clerk Of said CITY
on or before The date fixed for the
Issuance of said bonds. then an cleo
ton skall be hello IS provided BY law