The Lexington advertiser. [volume] (Lexington, Miss.) 1904-1985, 1949-06-23

corstn,ction of a kitchen and TO ex-
nand S2O0O. 90 for kitchen equipment
"a 70 expend $500. 00 fer repair tc
Sn.t;ps nIant and to expend $lOOO.Ot
tor renair of the cornices of said school
s32oo.0O to paint said puiioins
snd to expend s5ooOoo Q M
stating a new lighting system IN sale
.IIaing and to expend $4,000 for ad
@dttionai labor for all of said work
makinr a total expenditure for labor
and materials and equipment OF SlT,-
OO0. 90; and
WHEREAS, no funds are avail
.hta from the maintenance fun OF the
ITohula Consolidated School Dlstrict, on
from any other source, with when 70
make the aforesaid repairs Wnicn aIe
necessary and to purchase SAID equip
ment: and
WHEREAS. it is necessary that the
rch,,ia consolidated School District
borrow the sum of SIT, 10000 for the
nJrnose OF paying for the aforesaid
purchases and labor; n
WHEREAS. the sum of SIT. 600 90
nronosed TO be borrowed, when aoueo
- tbe present outstanding indebted
ness. both bonded and floating. OF the
TchuIa Consolidated School District.
will not result in the imposition upon
any of the property IN tne lcnu !
InnG0i10AJeO OCIlOOl
dehtedness for school purposes OF
more than ten per centum of the as
| sessed valuation of such property as
ascertained by the last completed as
sessment for taxation: now
THEREFORE,, BE TT RESOLVED
nv the Trustees of the Tchula Consoli-
dated School District:
Section I
That such loan be evidenced by the
Certificates of Indebtedness of the
That by and with the consent of the
Board of Supervisors of Holmes Coun-
ty. Mississippi, the Tchula Consolidated
School District of Holmes County. Mis-
sissippi. dc borrow the sum of SIT 100000
for the purpose of paying for the afore-
said purchases of materials and equip
ment and for labor.
Section II
Tchula Consolidated School District.
and said Certificates of Indebtedness
shall be dated July 5, 1949, and shall
bear interest from date at the rate OF
four per centum (4B) per annum, pay
able annually, and shall be numbered
from / to 20 both inclusive, and Certi-
ficates numbered 4. 8, u, is and 20
shall be in denominations of $4,000
each and all other Certificates shall be
in denominations of $1000.0 90 each. and
said Certificates shall be payable as
Nos. / to a inclusive of said Certi-
ficates of Indebtedness shall be due
and payable on July 5, 1850;
Nos, S to 8 inclusive of said Certi-
ficates of Indebtedness shall be due
and payable on July 5. 1851;
Nos. 8 to IL inclusive of said Certi-
ficates of Indebtedness shall be due
and payable on July 5, 1852;
Nos. IS to 16 inclusive of said Certt-
ficates of Indebtedness shall be due
and payable on July 5, 1858;
Nos. II to 20 inclusive of said Certi-
ficates of Indebtedness shall be due
and payable on July 5, 1854.
SECTION III
That a copy of this resolution shall
be certified over the signature of the
President of the Board of Trustees OF
the Tchula Consolidated School District
to the Board of Supervisors of Holmes
County. Mississippi" and
WHEREAS. said resolution has been
over the signature of the Pre-
sident OF the Tchula Consolidated
District to the Board of Super
visors of Holmes County. Mississippi:
and
WftElRE fAS, the 6OdId VI ohPCA 80
ors has considered said resolution; now
THEREFORE,, BE 1T RESOLVED
by the Board of Supervisors of Holmes
County, Mississippi:
That the Board of Supervisors does
now find, determine and adjudfcate
that the facts set forth in the aforesaid
resolution do exist and that II is neces-
that the Certificates of Indebted
ness of the Tchula Consolidated School
District be issued as set forth in said
resolution for the purpose of making
the purchases and repairs therein set
forth.
Section II
That the Board of Supervisors does
now find, determine n adJudlcate
that the purposes for which said Cert1-
ficates of Indebtedness are to be issued
are of objects authorized by law and
that the said Certificates so proposed
to be issued, when added to all the out
standing Indebtedness of the Tchula
Consolidated School District. both
| bonded and floating. will not impose
| CONSOLIDATED School District an indebt-
| edness for school purposes OF more
| than ten per oentum Of the assessed
valuation of such property. as ascer-
tanned by the last completed assess
ment for taxation.
Section III
That the Board OF Supervisors e
now declare the intention OF SAID
Board on Tuesday the 5th day OF July
1949, to issue the Certificates OF In
debtedness of the Tchula Consoitdareo
! School District in the sum of SIT 600. 90
the same to be in the denominations and