MINUTE BOOK No. 17, CITY OF OXFORD

MINUTE BOOK No. 17, CITY OF OXFORD141~------------------------------------------------------------------------------------------------------------------------~I If--------J,-IIa.2UK-TOM L. KETCHINGS co., NATCHEZ~~HEREAS,/and;\ ,jremonstrances of any persons aggrieved that might be made to said improvements, and;'\v'HEi1.2:AS, said resolution was published in the Oxford Eagle as required by law on the 6th,13th and 20th days of December, 1956 and;1tlliEqF.AS, the said notice was published in said newspaper once a week for three successivepublications as required by law, the first publication thereof being more than 15 days priorto the meeting held to hear objections, and;1tlliEREAS, heretofore on the 8th day of January, 1957, the 'Mayor and Board of Aldermensitting to hear objections, protests and remonstrances against said special improvementsadjudged that no successful objections had been made and heard and did adopt a resolutiondetermining to proceed .. lith said'special improvements, and;Chapter 495 Laws of Mississippi, 1950, provides that all municipalities may issuespecial street improvement bonds to pay for such special improvements and that such obligationsso authorized may be issued at any time after the estimated cost of the special improvementsshall have been ascertained by the governing authorities of the municipality, and;v,lliEREAS, heretofore on the 8th day of January, 1957, the Mayor and Board of Aldermen didreceive the report of the City Engineer as to the cost of the Special Improvements theretoforedirected to be made by the resolutions hereinabove referred to and after fully considering thematter did adopt a resolution finding and ascertaining and determining the estimated cost ofsaid special improvements to be $140,000.00; also finding, determining and ascertaining that ifbonds were issued by the City of Oxford, ¥~ssissippiin the amount of $140,000.00 to p~ forsaid special improvements that the cmount of such bonds, when added to the outstanding bondedindebtedness of the City of Oxford, Mississippi would not exceed any statutory or constitutionallimit of indebtedness, further finding that the amount of t~xableproperty in said municipalityaccording to the last completed assessment for taxation was $6,138,120 and the outstandingbonded indebtedness of said municipality, exclusive of the $140,000 worth of bonds proposed tobe issued and School Bonds and revenue bonds, is the sum of $36e,400.00.At the same time andin the same resolution said governing authority directed the sale of One Hundred and FortyThousand Dollars ($140,000.00) of Special Street Improvement Bonds of the City of Oxford,Mississippi, to be issued for the purpose of paying the cost of the special improvements abovereferred to and set Monday, the 18th day of February, 1957 at 7:30 o'clock P. M., in themeeting room of this governing body as the date, time and place fer the sale of said bonds anddid direct the clerk to give notice of the sale of said bonds as required by Chapter 325, Lawsof l'1ississippi, 1946, and;1tlliEREAS said notice was published in the Oxford Eagle as required by law on January 24thand 31st, 1957 and February 7th, 1957, and;wHEREAS, the said notice was published in the Oxford Eagle at least two times, the firstpublication being made at least ten (10) days preceding the date set for said reception of bids,t,mEREAS, heretofore, to-wit: on the 18th day of February, 1957, pursuant to said notice ofsale, the aforesaid bonds were awarded and sold to Herman Bensdorf & Company and their Associates,Alvis & Company, they being the highest and best bidder therefor, and;