The Chronicle-star combined with the Moss Point advertiser., 1949-04-15
RESOLUTION NC. .1s4a

~ hEoOLOll ON DECLARING THf
MAYOR AND coUNcILMEN OF THE
CITY OF PAScAGOULA, MIsSISSIP.
PI, TO ISSUE NEGOTIABLE BONDS
OF SAID CITY IN THE MAXIMUM
AMOUNT OF THIRTY THOUSAND
DOLLARS tS30.000) FOR THE PUR-
POSE OF PROVIDING FUNDS FOR
THE PURCHASE OF LAND FOR
PARKS AND FAIRGROUNDS ANT
MENT THEREOF.
WHEREAS. the Board of Mayor and
Councilmen of the City of Pascagoula
Mississippi. having made due invest.
cation. finds and declares:
l. That it is necessary to purchase
land for parks n Fairgrounds anc
to improve and adOrn such land:
2. That an estimate of the cost there.
Of has been made and such cost ha.
been found TO be Thirty Thousand
Dollars S 3 .000l;
3 That there are at this time nc
funds available In the CITY treasury
for the payment of such costs; and
WHEREAS. this Board of Mayor and
Councilmen further finds and declares,
4. That the assessed valuation OF
taxable property In said City of Pas
cagoula, according TO the last com
pleted assessment. is Five Million. Sew
en- Hundred Sixty-Nine Thousand
-Four Hundred Twenty-fiv and No/l0O
(S5. 769. 425 .00l;
S. That the total indebtedness OF
said City Is Seven Hundred Fifty
Thousand. Five Hundred and No/1OO
$3.50, 500. 00);
6. That the amount Of bonds to be
issued. namely. Thirty Thousand Dol
lars 1880. O00). when added to the out
standing bonds of said City, after de-
Quoting all bonds or other evidences
Of Indebtedness heretofore issued for
water and light purposes and for the
construction of special improvements
primarily ch%argeable to the property
benefited. or for the purpose of pay
ing the City's proportion of any bet
terment program, a portion of which
is primarily chargeable to the prop
erty benefited. does not exceed ten per
centum (10%o) of the assessed value of
taxable property in said City accord
ing TO the last completed assessment
for taXation; and that such amount OF
bonds proposed to be issued. when
added to all outstanding indebtedness.
both bonded and floating. does not ex-
coed fifteen per centum D5M1 of the
aforesaid value of taxable property in
said City; and
WHEREAS. this Board of Mayor and
Councilman further finds and declares
that the population of the City of Pas
cagoula is lass than fifteen thousand;
and that the amount of indebtedness
proposed to be incurred Toes not ex-
eeed Thirty Thousand Dollars $780,
000); and
WHEREAS, this Board of Mayor and
Councilmen further finds and declares
that under Title 10. Division 10 of the
Mississippi ode of 1912. IL Is now fully
authorized and empowered to declare
its intention to issue bonds of the City
Of P~ascagoula. Mississippi. in the
amount of Thirty Thousand Dollars
1880. 000) for the purpose of providing
funds for the purchase of land for
parks and Fairgrounds and the i'm
provement and adornment thereof
without IN election and upon the pub
LEGATION of this resolution declaring
such intention, and to authorize the
issuance OF such bonds on a date to
be determined in this resolution, un-
less twenty per centum (209) of the
| qualified electors of the city of Pas
cagoula file a written protest against
the issuance of said bonds ON or be-
fore said date: and 1t Is for the best
interest of said City to issue said bonds
NOW, THEREFORE. BE 1T RE
SOLVED BY THE BOARD OF MAY
OR AND CoUNCILMEN OF THE CITY
OF PASCAGOULA, MISSISSIPPI. AS
FOLLOWS:
| DECllON l. IfdI tfllS BOdTu OF May
or n Councilmen hereby declares its
intention to issue bonds of the City OF
Pascagoula, Mississippi, in the maxi.
mum amount of Thirty Thousand Dol.
lars 1880 .000l for the purpose of pro-
viding funds for the purchase of land
for parks and Fairgrounds and the i'm.
provement and adornment thereof;
said bonds to b~earsinterest al a rate
within the limitations fixed by law. IL
| ha Mammalian 1aearn.4xA al I.r 4kta noeel
and to mature at such time or times
and IN such amount or amounts, within
the limitations fixed by law. all as
shall hereafter be determined by this
Board; and for the payment of such
bonds the full faith. credit and re.
sources of the City of Pascagoula shall
be irrevocably pledged.
SECTION 2. That the issuance oil
said bonds will be authorized at 9
meeting of this Board to be held al
the City Hall. in said City of Pasca-
goula. at the hour of 1000 o'clock a
m. on Friday, the 22nd day of April
i949. unless twenty per centum t20es
of the qualified electors of the City
of Pascagoula file a written protest
against the issuance of said bonds on
or before said date.
SECTION 3. That notice Is hereby
given that a written protest against
the issuance of said bonds may be
filed with the Clerk of the City oil
Pascagoula. and IL such protest be
signed by twenty per centum (20%6)
of the qualified electors of said City
and filed with the Clerk of said City
on or before the date fixed for the
issuance of said bonds, then an cleo
tion shall be held. as provided by law
for the purpose of submitting to the
qualified electors of said City the
proposition to issue bonds in the afore-
said amount for the aforesaid purpose
II no such protest signed by the re.
auisite number of qualified electors
he filed, the said bonds will be issued
without an election thereon.
SECTION A. That the CITY Clerk Is
hereby authorized and directed &c
cause this resolution to be published
in The Chronicle Star. a newspaper o
general circulation in the City of Pas.
eagoula. which is eligible under the
provisions of Chapter 427. Laws OF
Mississippi. 1913. for three go consec.
utive weeks prior to said 22nd day O.
April. 1919: said resolution TO be pub
lished at least four t4l times. the firsi
of said publications TO be at least TWEEN,
ty-one t2l DAYS prior to the aforesaid
date and the last publication to be no
more than seven az days prior L
said date.
, The foregoing resolution having beer
introduced in writing at this a reg
ular meeting of the Board OF Mavol
and Councilmen of the CITY of pasca
goula held on Friday. the 25th day o
! March. 1949. was at said meeting read
considered n adopted, paragraph b,
! paragraph, section by section, and ther
! as a whole. without change in the form