The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1949-03-24

~ INDEBTEDNESS OF ThE IVES
LINE CONSOLIDATED SCHOOL DIS
THOUSAND DOLLARS FOR TIL
PURPOSE OF INSTALLING HEATING
AND WATER AND PLUMBING IN
THE SCHOOL BUILDING AND GYM
MASTUM AND REPAIRS THERETO
AND TO THE TEACHERS HoMl
BELONGING TO SAID SCHOOL DIS
TH1CT
WHEREAS. under date of February
2. 1919, the Trustees of the West Lin
Consolidated School District passed
approved and adopted a resolution II
words n figures as follows. to-wit
"A RESOLUTION PROVIDING FOE
THE ISSUANCE OF CERTIFICATES
or INDEBTEDNESS OF THE WEST
LINE CONSOLIDATED SCHOOL
DISTRICT IN THE SUM OF FOUH
THOUSAND DOLLARS FOR THE
PURPOSE OF INSTALLING HEAT.
ING AND WATER AND PLUMBING
GYMNASIUM THERETO AND nc
THE TEACHERS HOME BELONG
ING TO SAID SCHOOL DISTRICT,
WHEREAS, the West Line Console
dated School District of Holmes and
Affala Counties. Mississippi. has been
legally created. formed and organizeo.
mnd ~ now a valid. legal and existing
consolidated school district In which
authority to transport pupils Is grant
ed. and contains an area Of not less
than twenty-five square miles lying
wholly in Holmes and Attala Counties,
Mississippi. and formed by consolidat.
ting two or more districts or parts OF
districts; and
WHEREAS, said West Line CONSOLE
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 nome
used by the teachers employed by saio
district to teach the white educabie
children of said school district. which
said buildings are situated in the Town
OF West. Holmes County. mississippi
and :.
WHEREAS. it is necessary to install
n heating system and plumbing In SAID
school building and teachers home ana
gymnasium and it will be necessary to
expend 81, 500. 90 for labor and mater
Sals for such purposes; and
WHEREAS. said school buildings are
in need of repair and II will be neces-
sary TO expend si500.00 for labor and
materials for such purpose; and
WHEREAS, no funds are available
from the maintenance fund of the
West Line Consolidated School Dis
frict, or from any other source, with
which to make the aforesaid repairs
and improvements and purchase OF ma
ferials which are necessary: and
WHEREAS. il is necessary that the
West Line Consolidated School Dis
trict borrow the sum of 81, 100000 for the
purpose of paying for the aforesaid re-
pairs aud improvements and labor and
purchase of materials; and
WHEREAS, the sum of $500 90 pro-
posed to be borrowed when added to
the present outstanding Indebtedness.
both bonded and floating. of the West
Line Consolidated School District, win
not result in the imposition upon any
of the property In the West Line Con-
soIidated School District of any in
debtedness for school purposes of more
than ten per centum of the assessed
valuation OF such property, as ascer-
Ained by the last completed assess
"f THER 4 easE.'q sE IT rp RESOLVED by
the Trustees of the West Line Con-
soIidated School District:
Section ]
That by and with the consent of
the Board OF Supervisors of Holmes
County. Mississippi, he West Line
Consolidated School District of Holmes
and Attala Counties, Mississippi. do
borrow the sum of 100000. for the
purpose of paying the aforesaid pur-
chases of materials and for labor.
Section II
That such loan be evidenced by the
Certificates of Indebtedness of the
West LIN Consolidated school Dis
tricf, n said Certificates of Indebted
ness shall be dated March z. i949, and
- II bear interest from date at the
lie of our per centum 49, per an
rss8sn. saya' annually. and shall be in
4 noral atoms of $4,000 each and
/ HRs from one "a to five t5l In
: lusig and shall be payable as fol-
I 4sfgrH
No vi said Certificates of Indebted
r ess shsi be due and payable March 7.
1850;
No. 2 OF said Certificate of Indebted
ness shall be due and payable March Z,
1851.
No 9 of said Certificate of Indebted
ness shall be due and payable March z.
No. 4 Of said Certificate of Indebted
ness shall be due and payable March Z.
1858.
mess si,al be due and payable March 7.
1854; -
That a copy of this resolution shall
be certified over the signature OF
President OF the Board of Trustees OF
the West Line Consolidated School Dis
trict u h Board Of Supervisors sr OF
WHEREAS. the aforesaid resolution
was adopted by the affirmative vote
of all of the Trustees of the West Line
Consolidated School District n said
resolution was prior to the 7th day
OF February. 1949. certified over the
SIGNATURE Of the President of the Board
of Trustees of the West Line Consoii-
dated School District to the Board or
Supervisors of Holmes County, Missls-
sippi, aad filed with the Clerk of the
said Board of Supervisors; and
WHEREAS, said resolution declared
the necessity for such loan, and speci-
fled the amount of the loan, the rate
of interest, the dates of maturity OF
the Iosu and how 1t is to be evidenced,
ard the nature and cost of the re-
psirs and labor necessary to be made
and performed. and purchase of ma
terials. and further declared that no
funds are available from the main
tenance fund or from any h source
with which to make the repairs and
provide the labor and materials TO be
MADE and provided with the proceeds
of such loan; and
WHEREAS, the said Board of Super
visors at its first regular meeting fol-
lowing the receipt of said resolution
and on the 7th day of February, 19a9.
did consider said resolution n did
then n there pass. approve and adopt
n resolution declaring the intention OF
The Board Of Supervisors of Holmes
County. Mississippi. to issue such
Certificates of Indebtedness to the
West Line Consolidated School District
which resolution appears of record on
Page lib ct seq, in Book 20. OF the
Minutes of the Board of supervisors
of Holmes County. Mississippi: and
WHEREAS, by said resolution OF
said Board of Supervisors did find, d