The Chronicle-star combined with the Moss Point advertiser., 1949-07-29
NOTICE OF BOND SALE
$3.50, 600
Anan aAAn

0NNACtuA
At 7-8. is. %. 20
NOTICE OF BOND SALE
$3.50, 600
(Of S263, 000)
PORT IMPROVEMENT BONDS
OF THE
CITY OF PASCAGOULA. MISSISSIPPI
Sealed proposals. will be received
by the Board of Mayor me Council
men of the City of ~Pascagoula. Mis-
sissippi. at the office OF the City Clerk.
in the City Hall. in said City. until the
hour of 100 o'clock g. M on Tuesday,
the 9th day of August, 1949, at which
time said bids will be publicly opened
for the purchase of $250, 900 Port I'm
provement Bonds of said City of Pas
cagoula.
The said bonds bear date of March
1. l949. are of the denomination of
81 900 each, and shall bear interest at
rates hereinafter indicated. payable
September /. 1919 and semi-annually
thereafter on March ] and September
! in each year, and mature serially on
March LIST in each of the years as
follows:
$4,000 in each of the years
1850 to 1854. inclusive;
$4,000 in each of the year
1855 to 1859. inclusive;
Sill 900 in each of the years
1860 TO 1854. inclusive;
S12 600 in each of the years
1865 to 1874. inclusive.
All of the bonds of said issue are
payable as to principal and interest in
lawful money of the United States of
America at the Whitney National
Bank of New Orleans. in the City of
New Orleans. State of Louisiana.
Bonds maturing in 1858 and there
after are redeemable in the inverse
order of their maturities. on March
|, 1882. or OF any Interest payment
late thereafter. at the option of the
City. If less than all of the bonds OF
any maturity are to be redeemed at
a given time, then the identity of the
termined by lot. Bonds redeemed dur
ng the calendar year 1852 shall be
'edeemable at par and accrued in
crest, plus a premium of $4,000, and
bonds redeemed thereafter shall be
redeemable at par and accrued inter
est plus q premium of $3.50 less than
the premium for he previous calen-
lar year until h year 1864, in which
year, and subsequent years, the bonds
hall he redeemable without premium
Bonds numbered l to al. inclusive,
shall bear interest at the rate Of
% September 1. l949. and thereafter az
he rate of 3 ff2qo per annum to Sep
.ember l, 1850, and thereafter at the
ate of 2 1/2To per annum until paid.
Bonds numbered AZ to 121. inclusive,
hall bear interest at the rate o
/, 3I4T per mi from date thereof
o September 1. 1919. and thereafter
1t the rate of 3 3k4Go per aHnum t.
september 1. 1850. and thereafter a.
he rate of 2 3f46 per annum until
osid.
Bonds numbered 1872 10 1871. Inclusive
hall bear interest at the rate of So
Der annum from date thereof to Ser
anthAr 1QAQ and fhHFnaftNf NJ the
ate of 4%e per annum to September
|, 1850. and thereafter at the rate of
~ per annum until paid.
Bonds numbered 1872 TO 1853. inclu-
i've. shall bear interest at the rate o.
3 3/4% per annum from date thereof
At the rate of 3 3/49o per annum to
september /. 1850. and thereafter a
he rate of 2 3/4% per annum unit
paid.
Interest due on said bonds on Marcf
[, 1850 and IN September 1, 1850 !
represented by two interest coupon
Tue on each of said dates, one of which
coupons due on each of said dates ]
,syable in the amount of S5.0 ant
he other of which is payable in al
amount equal to the remainder of the
interest due on each of said dates
Either of said coupons may be pre-
;ented for payment when due and viii
,e paid separately and apart from thu
other coupon representing interest dui
IN the same interest payment date.
Proposals shall be addressed to tn
Board of Mayor and Councilmen :
he City of Pascagouls and shoult
llainly be marked Proposal for Por
provement Bonds" and should be
He'd with the City Clerk on or rr
10 the date and hour h~ereinabove
FAMED. Each bid must be accompanie
oy a certified check. cashiers check
" exchange. payable TO the City o.
Pasaeoula, Mississippi, issued or Ger
flied by a bank located in the Stat,
If Mississippi, in the amount of Fiv,
Thousand tS5. 000l Dollars as a guaran-
tee that the bidder will carry out his
contract and purchase the bonds If h
old be accepted. If the successful bic
der fails to purchase the bonds pur
suant to his bid and contract. the
amount of such good faith check shall
be retained by the City and shall be
oaid into the Treasury of said City
Of Pascagoula. The Board of Mayor
and Counciimen reserve the right tC
reject n and all bids.
These bonds constitute a part of an
issue of 1858 900 of Port Improvement
Bonds, of which bonds in the amount
of $4,000 will be issued and delivered
in exchange for and upon simultane-
surrender and cancellation of E
like amount of outstanding Port I'm
0rOVement k0n0S OF sAlQ lily III
said issue of $3.50. 900 will constitute
the only outstanding Port Improve
ment Bonds of said CITY issued under
authority of Section 7555 of the Mis-
sissippi Code of 1912. The said bonds
will be payable from an ad valorer
tax of two mills on each One Dollar
of the total assessed valuation of al
taxable property in Jackson County
Mississippi, and from the net revenue
arising from. the operation of the por
facilities of said City. and will be
cured By a mortgage or the Port Fa-
cilities of said City.
Each bidder for said bonds IS re-
quested to nominate in his bid A trus-
tee satisfactory 10 him, who Is willing
to serve as such trustee. nominating
either Hermes Gautier. Fred Taylor
or p. w Cox. who are acceptable tn
this Board and are willing to serve
or nominating any other resident cit
izen of Jackson County. Mississippi
is willing to serve and who would
be acceptable to this Board as such
trustee. !
Said bonds have been issued. vail
dated hy decree of the Chancery Court
of Jackson County. Mississippi. print
and Autographed and approved as
to validity nv the law firm of Charles
and Trauernicht. st. Louis. Missouri.
and the City has IT will pay all such
costs. Delivery of the bonds will be
made to the purchasers on or before
C~-k,-lA.w I fnAn In Nka ritz ~ De-