MINUTE BOOK No. 17, CITY OF OXFORD

142MINUTE BOOK No. 17, CITY OF OXFORD~--".-.-.HHEREAS the City of Oxford, l'-lississippi has not issued any bonds or other evidencES ofindebtedness since the resolution was adopted directing the sale of these bonds on January 8th,1957 the Mayor and Board of Aldermen of the said City of Oxford, Mississippi do now find anddetermine that the amount of such bonds,when added to the outstanding bonded indebtedness ofthe City of Oxford, Mississippi does not exceed any statutory or constitutional limit of indebtedness,and;:mE1EAS, the Mayor and Board of Aldermen of the said City of Oxford donow find anddetermine that they are fully authorized and empowered to issue the special street improvementbonds of said city in the amount and for the purposes hereinabove set forth and that provisionshould now be made for the preparation, execution, issuance and delivery of the said bonds;Nm! THEREFORE, BE IT RESOLVED i3Y THE IVlAYOR AN;] BOARD OF ALDERMEN OF THE CITY OF OXFORD,HISSISSIPPI, AS FOLLOHS:SECTION 1. That the findings of fact and determinations hereinabove set forth in thepreamble to this resolution are hereby readopted and made again as fully and completely as ifset out herein and That, to raise money for the purpose of paying for the special improvements on':jilliams Avenue Extended, from Avent Acres Subdivision to Park Drive, and on Park Drive fromBramlett Gardens St:.bdivision to the Northern Boundary of the City Limits, and on BramlettSoulevard in Bramlett Gardens Subdivision along its entir,::; length in Part I of said subdivision,and on that part of Sisk Avenue in said Bramlett Gardens Subdivision lying between Avent AcresSubdivision and Poplar Heights, and on all that part of McLaurin Street lying in Part I of saidBramlet Gardens Subdivision, and on all that part of South 10th Street lying between ClevelandAvenue and the Old City Limits of Oxford, Mississippi, and on South 18th Street from qoss Avenueto Johnson Avenue Extended, in Haley Subdivision, Part III, and all of Ross Avenue and JohnsonAvenue :;;xtended lying within Haley Subdivision, Part III, all in the City of Oxford, COUl1ty ofLaf2yette and State of Nississippi, and as shown on the map of the City of Oxford, I1ississippiand the maps and plats of the subdivisions referred to, the cost of which improvements are tobe paid in whole or in part by the owners of property abutting to the proposed improvements,there shall be and there hereby are authorized, ordered and directed to be issued the negotiablespecial street improvement bonds of the City of Oxford, Lafayette County, Hississippi, in theprincipal amount of One Hundred and Forty Thousand Dolla rs ($140,000.00).The said bonds shallbear date of Harch 1, 1957; shall be numbered from One (1) to One Hundred ani Forty (140),inclusive; shall be of the denominations of One Thousand Dollars ($1,000) each and shall bepayable, bo~has to principal and interest, in lawful money of the United States at the NationalBank of Commerce, Hemphis, Tennessee.The said bonds shall bear interest at the rates shownhereafter, payable Se.?':,ember 1, 1957 and semi-annually thereafter on l'larch 1 and Septemher 1in each year until the pri':1':::ipal of said bor..ds, respectively, shall have been paid.Interestto accrue on said bonds on and prior to the respective maturity dates thereof shall be payableupon presentation and surrender of interest coupons to be attached thereto and no interest shall"- accrue on said bonds after the respective maturity dates thereof unless said bonds shall be dulypresented for payment and be not paid.The said bonds shall mature without option of prior