MINUTE BOOK No. 17, CITY OF OXFORD

4t2MINUTE BOOK No. 17, CITY OF OXFORDThe governing authorities os the City of Oxford, Mississippi, then took up forconsideration the matter of issuing notes or bonds for the purchase of motor vehicles andother school transportation equipment, and the servicing of same, and other purposes, andAlderman (or insert proper title) Roberts offered the following resolution and order, whichwas duly seconded by Alderman (or insert proper title) Belk:ORDER OF THE CTOT,MNING AUTHORITIES OF THE CITY OF OXFORD, MISSTSSIPPI,TO 9CM(1.1 X11,500.00 WITH WHICH TO PURCHASE SCHOOL TRA -SPORTATIONEQUIPMENT FOR THE OXFORD MUNICIPAL SEPARATE SCHOOL DISTRICT, TO PRO-VTDE FOR THE SERVICING OF SANE, AND OTHER PURPOS]S."'WHEREAS, there came on for hearing this day at the regularmeeting of the ' ,-overning authorities of the City of Oxford, Mississippi,the petition of the Board of Trustees of the OxfordMunicipal Separate School District of said City of Oxford, Mississippi,dated the 21st day of July, 1958, petitioning and requestingthis Board to borrow the sum of $11,500.00 to be used by said boardof trustees in purchasing three new motor vehicles and other schooltransportation equipment in which to transport to and from the publicschools of said municipal separate school district the schoolchildren attending said schools, and to provide for the servicingand repair of such district-owned motor vehicles, or other schooltransportation equipment, and to establish, erect, and equip schoolbus shops or garages, and purchase land therefor, and to issue negotiablenotes or bonds for said municipal separate school districtin evidence of said sum, said notes or bonds to be payable in equalannual installments over a period of five years from the date oftheir issuance, (not exceeding six years if new transportation equipmentis tote purchased, or tow years if used transportation equipmentis purchased), and to bear not exceeding four per cent(4%) interestper annum, principal and interest tobe paid from the transportationfunds of said district, all as provided by Chapter 15 and Chapter 18,Laws of Extraordinary Session of 1953.mWHEREAS, the Board finds that on the 21st day of July, 1958,at a regulsr meeting of said Board of Trustees of said municipal separateschool district, duly and legally called and held, the saidBoard of Trustees, by a majority vote of all its members, duly adoptedan order or resolution finding and adjudging that it is necessaryand advisable to purchase and operate for said district three motorvehicles or other school transportation equipment, and to provide forthe servicing and repair of such district-owned motor vehicles orother school transportation equipment, and to employ drivers for theoperation thereof, and to establish, erect, and equip school bus shopsor garages, and purchase land therefor, in order to provide satisfactoryschool transportation service at a reasonable cost for theschool children of said school district attending said public schoolsand that it is necessary to borrow said sum of $11,500.00 with Itichto pay the purchase price of said motor vehicles, other equipment,shops or garages, or construction costs, and land, as shown by acertified copy of said resolution cf the Board of Trustees attachedto said petition; that said petition, with said resolution attached,was first submitted to the State Board of Education for its approvalor disapproval, and that on the 28th day of July, 1958, the StateBoard of Education adopted and spread upon its minutes an orderapproving the said resolution and petition of said Board of Trusteesof said municipal separate school district, as shown by a certifiedcopy of said order of the State Board of Education attached to thesaid petition and resolution of the Board of Trustees; and,"WHEREAS, the governing authorities forther find and adjvdgethat there is no money at the present time in the transportationfunds of said district, available for the purpose of paying any partof the purchase price of said motor vehicles and to provide for theservicing and repair of such district-owned motor vehicles, or otherschool transportation equipment, and to establish, erect, and equipschool bus shops or garages, and purchase land therefor, and that itis necessary toborrow $11,500.00 required to pay the said costs, andthat all "the facts and recitals contained in said resolution of theBoard of Trustees of said municipal separate school district are trueand correct:"NOV, THEREFORE, BE IT RESOLVED AND ORDERED BY THE GOVERNINGAUTT"ORTTI-TS OF THE CITY OF OXFORD, MISSISSIPPI, as follows:SECTION 1. That, for the purpose of providing money for the purchaseof motor vehicles and other school transportation equipment andto provide for the servicin- and repair of such district-owned motorvehicles or other school transportation equipment, and to establish,erect, and equip school bus shops or garages, and purchase land therefor,as requested in the resolution and petition cf the Board ofTrustees of the Municipal Separate School District of the City of