MINUTE BOOK No. 17, CITY OF OXFORD

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I r, ~------------------------------------------------------,----------------------~! ~MINUTE BOOK No. 17, CITY OF OXFORDBt2S4K-TOM L. KETCHINaS co., NATCHEZand This governing authority has received said report and carefully examined same and heardevidence thereon; Now therefore, this governing body after hparing and considering said reportdoth rind and determine and ascertain that the estimated cost of said special improvements isthe amount of One Hundred and Forth Thousand Dollars ($140,000.00), of which amount the Cityof Oxford shall pay the sum of $40,866.00, and the abutting property owners shall pay thesum of $99,234.00 on the basis provided for in the resolutions determining to proceed; thata summation of said costs by streets is as follows:SlW¥ARYLength Cost Cost Totalin Property to CostFeet Owners CityBramlett Blvd. 735 10695.89 4059.92 14755.81Sisk Avenue 1649 31839.82 13037.38 44877.21McLaurin Drive 778 13255.48 5266.20 18521.68Park Drive 2003 15599.12 7794.55 23393.67Williams Ave. Ext. 400 4173.71 2086.84 6260.55South 10th Street 500 5175.14 1755.41 6930.55Ross Ave. Ext. 300 3831.53 1353.22 5184.75(South 18th St. Ext. 310 3852.09 1326.91 5179.00Jrhnson Ave. Eat. 660 10445.80 4052.84 U1.98.64TOTAL 98868.58 40733.27 139601.86CONTINGENCIES 265.42 132.73 398.14TOTAL 99234.00 40866.00 140000.00SECTION 2.That the assessed value of the taxable property within the City of Oxford,Mississippi, accofding to the last cOmpleted assessment for taxation is as follows:Real Estate, 4,212,955Personal Propertyl,654,457Public utility Property ; 270,708TOTAL 6,138,120SECTION 3. That outstanding bonded indebtedness of the City of Oxford, Mississippi,exclusive of School Bonds and Revenue Bonds is as follows, to-wit:(IBOND ISSUE5/1/1948 Funding Bonds12/1/1951 Refunding Special Street Improvement4/1/1952 Water and Sewer Improvement12/2/1952 Special Street Improvement Notes3/1/1953 Refunding Special Street Improvement9/1/1953 Special Street Improvement3/1/1954 Special Street Improvement9/1/1954 Special Street Improvement4/1/1955 Special Street ImprovementOUTSTANDIN G INDEl3TEDNESS$45,000.0060,000.0012,000.00',,4,200.0082,000.0035,000.003,200.0044,000.0063,000.0011/1/1956 Special Street ImprovementTOTAL20,000.00368,400.00
!-I_ ..__._.____ . __ - __ _122MINUTE BOOK No. 17, CITY OF OXFORD~.------- .. -.-!I,SECTION 4. That the amount of th~bonds hereinafter Froposed to be issued, when added to theaforesaid outstanding bonded indebtedness, will not result in the imposition on any of the propertywi thin said municipality of indebtedness of more than fifteen percentum of the assessed va.lue ofthe taxable property within said district according to the last completed assessment for taxation;and this governing authority does ascertain, find and determine that the amount of bonds hercinafterdirected to be issued, when added to the outstanding bonded indebtedness of th€ City ofOxford, Mississippi, will not exceed any statutory or constitutional limit of indebtedness.SECTION 5.That the One Hundred Forty Thousand Dollars ($140,000.00) Special StreetImprovement Bonds of the City of Oxford, Mississippi, to be issued for the purpose of payingthe cost of the special improvements heretofore directed to be made on the streets set forthand described in Section 1 of this resolution, shall be offered for sale on sealed bids inthe meeting roan of this governing body at 7:30 o'clock P. M., on Monday, the 18th day ofFebruary, 1957.SECTION 6. That, as required by Chapter 325, Laws of ¥ississippi, 1946, the City Clerkshall be and he is hGreby authorized and directed to give notice of the sale of said bonds bypublication at least two (2) times in the Oxford Eagle, a newspaper published in the City ofOxford, Mississippi; the first publication to be made at least ten (10) days preceding thedate set for said reception of bids, and such notice to be in substantially the followingform:NOTICE OF SALE OF$140,000.00SPECIAL STREET IMPROVEl< liNT BONDSOF THE CITY OF OXFORD, LAFAYETTECOUNTY, MISSISSIPPINotice is h0reby given under the provisions of Chapter 325, Laws of Mississippi, 1946,that the Mayor and Board of Aldermen of the City of Oxford, MiSSissippi, will sellon sealedbids at 7:30 o'clock P. M., on Monday, the 18th day of February, 1957, in the Chambers ofsaid governing body in the City Hall of said City, the Special Street Improvement Bonds ofthe City of Oxford, Mississippi, in the principal amount of One Hundred Forty ThousandDollars ($140,000).The City reserves the right to reject any and all bids and all of the provisions ofthe Act of the Legislature shall be observed.ay order of the Mayor and Board of Aldermen of the City of Oxford, Mississippi, this the8th day of January, A. D., 1957./s/ C. P. FulmerCITY CL EPZSECTION 7. That the City Clerk shall obtain from the publisher of the aforesaid newspaperthe customary publisher's affidavit proving publication of said notice for the time and in themann,r required by law.SECTION 8. That at the time of the sale of said bonds, or at some appropriate timetherfaft'Or, this Mayor and Board of Aldermen shall take such further action as may be necessaryto provide for the preparation, executinn, issuance and delivery of said bonds.The above and foregoing resolution having been introduced at this a recess, regularmeetirlg of the }f~ayorand Board of Aldernen of the City of Oxford, MiSSissippi, held on the8th day of January, A. D., 1957, in writing, was read, considered and discussed, paragraph
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