MINUTE BOOK No. 17, CITY OF OXFORD

MINUTE BOOK No. 17, CITY OF OXFORD~,--------------------------------------------------------------------SI234K-TOM L. KETCHINGS co .. NATCHEZL'I(FClRf'il OF INTEREST COUPON)No. $Narch -------------------On the first day of September, 19 ___ , the City of Oxford, Lafayette County, Mississippi,promises to pay to bearer _________________ Dollars and _________________ Cents ($ __________ )in lawful money of the United states of America at the National Bank of Commerce, in the Cityof Memphis, State of Tennessee, for interest due that date on its Special Street ImprovementBond dated Harch 1, 1957 and numbered _______________ _Countersigned:THE CITY OF OXFORD, MISSISSIPPIBy:------~~----------------~Hayor of the City of Oxford, MississippiCity Clerk of the City of Oxford, MississippiSTATE OF MISSIS~3IPPI)S::;COUNTY OF LAFAYETTE)(REGISTRATION AND VALIDATION CEJ.TIFI CATE)I, C. P. Fulmer, City Clerk within 2nd for the City of Oxford in Lafayette County,IVJ:ississippi, do hereby certify that the within bond has been registered in my office in a(book kept for that purpose, as provided by law.I do further certify that the within bond has been validated and confirmed by decree ofthe Chancery Court of Lafayette County, Mississippi, rendered on the _______ day of _______ ,1957.City ClerkSECTION 3. That, in order to provide for the payment of the aforesaid bonds and theinterest thereon, there shall be made special assessments on abutting property owners for theirpro rata share of said special improvements and that in addition thereto there shall be and ishereby directed to be levied and collected, at the same time and in the same manner as othertaxes of said city are levied and collected, a direct, continuing annual tax upon all taxableproperty within the boundaries of said city sufficient in amount to provide for the payment ofthe princi9al and interest on said bonds as the same matures and accrues, allOwing for specialassessments to be levied on abutting property ovmers for their pro rata share of the costs ofsaid special improvements.It shall be the duty of the tax levying authority of said City ineach year while any of the bonds iSS11ed shall remain outstanding and unpaid, .... ri thout any fUrtherdirection or authority, to levy and collect the taxes herein provided for, and the rate oftaxation to be levied each year shall be sufficient, after making allowances for delinquenciesin the payment of taxes and the costs of collection, to provide the sums required in each yearrfor the payment of said interest and principal. Should there be a failure in any year to complywith the requirements of this section, such failure shall not impair the rights of the holders ofany of said bonds in any subsequent year to have adequate taxes levied and collected to meet theobligations of the bonds herein authorized to be is[;ued, both as to principal and interest.