The Chronicle-star combined with the Moss Point advertiser., 1949-05-20
ORDINANCE NO. "a 1s.s

AND DIRECTING THE ISSUANCE OF
BONDS OF THE CITY OF PASCA
GoULA. MISSISSIPPI, IN THE
AMOUNT OF THIRTY THOUSAND
DOLLARS 1880. 000) FOR THE PUR
POSE OF PROVIDING FUNDS FoF
PARKS AND FAIRGROUNDS ANT
THE IMPROVEMENT AND ADORN
MENT THEREOF. SETTING OUT TIN
FORM OF SAID BONDS AND THF
COUPONS TO BE ATTACHED THERE
re. DETERMINING THE PATE or
INTEREST MATURITTES AND PLACE
OF PAYMENT THEREOF: AND MAX
ING PROVISION FOR THE LEVY or
A TAX SUFFICIENT TO PAY SAT-
RONDS AND THE INTEREST THERE
ON AS THE SAME NATURES ANT
ACCRUES.
WHEREAS heretofore. to-wit: on the
18th dav of March. 1919. the Board o.
Mavor and Councilmen of the Citv q
P~ascagoula, Mississippi did adopt Re-.
o%lntion No. 2-lq4s. entitled
a RESOLUTION DECLARING THT
INTENTION OF THE BOARD or
MAYOR AND CotrNCILMFN OF rHr
CITY OF PASCAGOIU A. MISSTSSIp
PI TO ISSUE NEGOTIABLE BONDS
OF SAID CITY IN THE MAXIMUM
AMOUNT OF THIRTY THOUSAND
DOLLARS 1880 .n00 FOR THE PUR.
PoSE OF PROVIDING FUNDS FOF
THE PURCHASE OF LAND FOR
PARKS AND FAIRGROUNDS AND
THE IMPROVEMENT THEREOF"
and
WHEREAS. said resolution declared
that IT was the intention of the safe
Board of Mayor and Councilmen Il
issue the aforesaid bonds on the 22nc
dav Of April. 1919: and
WHEREAS. under the provisions G
said resolution and as REQUIRED h
Section 3605 of the Mississippi COD
of 1912. the said resolution was pub
Hshed at length on March 81, April
IA n Fl, l949, in the Chronicle sta
a published in the City c
P~ascagoula. Mississippi. and which :
a qualified newspaper under Chapte
427. law of Mississippi, 1913; and
WHEREAS. on the 22nd dav of April
l949, the said Board of Mayor ant
Councilmen did meet for the purpose
of receiving protests against the issu
ance of said bonds: and
WHEREAS, on said 22nd day o.
April, 1919. no protests of any kind o.
character were filed against the issu.
ance of said bonds: and
WHEREAS, the City of Pascagoulf
IS a CITY of less than fifteen Thousand
/ $4,000 inhabitants; and
WHEREAS. the amour of bonds tt
49, 1o% - ~ IAdI i IL
Thousand Dollars 1880, 000l; and
WHEREAS, under the provisions OF
Section 1905 of the Mississippi Code OF
1912, the bonds aforesaid may now be
issued Nv the said City of Pascagoula
without submitting said proposition &c
an election: and
WHEREAS, the assessed valuation o,
the taxable property in said City o.
P~ascagoula. as ascertained by the last
finally completed and equalized assess
ment. is Five Million. Seven Hundred
Sixty-nine Thousand. Four Hundred
Twenty-Five Dollars (S5, 769, 425 .00); and
WHEREAS, the said City of Pasca-
goula now has outstanding bonded and
floating Indebtedness aggregating the
principal amount Two Hundred Thirty
' One Thousand Five Hundred and
no/100 1921 500. COZ. exclusive of bonds
payable solely from revenues of pub
lie utilities: and
WHEREAS. the amount of bonds pro
posed to be issued, namely. Thirty
Thousand Dollars 1880, 000). when add
ed to the outstanding bonds OF said
Sity after ~deducting all bonds or other
evidences of Indebtedness heretofore
issued for water, light and sewerage
purposes and for the construction OF
ipecial improvements. primaril
ahargeable to the property benefited
1r for the purpose of paying the City's
proportion of any betterment program
portion of which is primarily charge.
lble to the property benefited, doe.
lot exceed ter per centum (l0Gol o.
he assessed value of taxable propert,
n said City according to the las
completed assessment for taxation. am
hat said amour of bonds proposed
o be issued, when added to all out
standing Indebtedness. both bonded
and floating does not exceed fifteer
Der centum t15G5) of the aforesaid
value of taxable property of the CITY
of ~Pascagoula: and
WHEREAS. on the 22nd day of April
1919, the said Board of Mayor anC
-ouncilmen did adopt Resolution No
|, f 949, entitled:
"A RESOLUTION FINDING AMI
DETERMINING THAT A RESoLU-
ZION ENTITLED "A RESOLUTION
DECLARING THE INTENTION OF
THE BOARD OF MAYOR AND COUN.
SILMEN OF THE CITY OF PASCA.
SOULA. MISSISSIPPI, TO ISSUE NE.
iOTIABLE BONDS OF SAID CITY
IN THE THE MAXIMUM AMOUNT
Of THIRTY THOUSAND DOLLARS
$50. 000) FOR THE PURPOSE OF PRO
yIDING FUNDS FOR THE PURCHASE
Of LAND FOR PARKS AND PLAY
AND Al ORNMENT THEREOF.
ADOPTED BY THE BOARD OF MAY
DR. AND COUNCILMEN OF SAT-
|ITY ON THE 25th DAY OF MARCH
t949, WAS DULY AND REGULARLY
PUBLISHED: THAT NO WRITTEN
PROTEST OF ANY KIND OR CHAR
aCTER HAS BEEN FILED AGAINST
AND AUTHORIZING AND DIRECT
ING THAT SAID BONDS BE ISSUED;
and
WHEREAS. it is now found to b,
necessary and advisable that the de
.ails n incidents of said issue shoult
5e fixed and determined upon.
NOW. THEREFORE. BE IT OR
oAINED BY THE BOARD OF MAYOT
AND COUNCILMEN Or THE CITY
Of PASCAGoULA. MISSISSIPPI. As
FOLLOWS.
SECTION l. That there shall be ant
here are hereby authorized and or
Tered to Re prepared and issued bond
IF the City of ~Pascagoula. Mississippi
n the amount of Thirty Thousand
Dollars 1880. 000l. for the purpose o
providing funds for the purchase o
he Improvement and adornment there
If. Said bonds shall pear date of Ma,
[ 1919: and shall bear interest at tn,
ate of two and one-haH per centun
246) per annum, payable January
1850, and semi-annually thereafter OF
July i ana january ] IN each yea
until the principal of said bonds. re
i~pectively. shall have been fully paid
Interest accruing on said bonds on ant
orior to the respective maturity date.
thereof shall be evidenced by ant
hall be payable upon presentation
and surrender of interest coupons f
oe attached to each of said bonds
Both principal of and interest on sale
ponds shall be payable in lawful mon
~ of the United States of America a
he Pascagoula-Moss Point Bank, il
he City of Paseagoula. State of Ms
issippi. The said bonds shall be litho