MINUTE BOOK No. 17, CITY OF OXFORD

f---,I -__-..--._---_-!( 47·1IIcontinuedMINUTE BOOK No. 17, CITY OF OXFORD__ ._----=.=_-.. _._.-__ ~--~-_--~~~:-_---~=~--OXFORD MUNICP'AL SEPARATE SCHOOL DISTRIcrH, i'Countersigned by:/:/;:'" . /,,--,~-;«L-. '[/. /CITY OF OXFORD, HISSISSI"PISTATE OF MISSISSIPPICOUl,lTY OF L.AF AYETTECITY OF OXFORD(FORM OF REGISTRATION CERTIFICATE)I certify that this note has been duly registered by me in ________________ kept inmy office for said purpose.(~fuere the amount of indebtedness tobe incurred exceeds the sum of ten thousand($10,000.00), then the governing authorities of the municipality may, at their option, eitherissue negotiable notes or may issue bonds as evidence of the indebtedness so incurred. Inthe event the governing authorities of the municipality shall determine to iss,_e bonds, suchbonds shall be us sued in the rranner provided by Chapter 493, Laws of 1950, as now or hereafteramended. Further, in the event it is determined that bonds be issued instead of negotiablenotes, Sections 1 and 2 of the resolution of the governing authorities, immedialte1y above,should be substituted by appropriate provisions relating to the issuance of such bonds, allas provided by Chapter 493, Laws of 1950.)"SECTION 3. It is further ordered that said sum of $11,500.00,when bcrrowed, shall be deposited in the municipal treasury in aspecial fund to be entitled "Special Transportation Equipment Fund,"and which shall be used and expended by the Board of Trustees of themunicipal spearate school district for the purchase of the motorvehicles and other school transportation equipment described and toprovide for t he servicing and repair of such district-owned motorvehicles and other school transportation equipment, and to establish,erect, and equip school bus shops or garages, and purchaseland therefor, and set forth in the said resolution and petitionof said Board of Trustees under such rules and regulations as may beprescribed by the State Board of Education and for no other purpose,and said funds shall be paid out on warrants issued in the mannerprivided by law upon order of the Board of Trustees of such district.SECTION 4. It is further ordered that the principal and interestof said notes or bonds .sha11 be paid out of such transportation fundsof the said municipal separate school district, and it shall be theduty of the Board of Trustees of said municipal separate school districtto set aside each year out of such transportation funds.of saiddistrict an amount sufficient to pay the principal and interest uponthe said notes or bonds as and when the same shall respectivelymature and accrue. The Board of Trustees of said municipal separateschool district shall include in the school budget each year separateitems showing the amount required for the payment of the principal of,and the interest upon, all notes or bonds issued."SECTION 5. Said notes or bonds shall in all respects be issuedas provided in Chapter 18, LaWS of Extraordinary Session of 1953, andany bonds issued shall be issued in all respects in the manner providedby Chapter 493, Laws of 1950, as now or hereafter amended, and all theprovisions of such statute shall be fully applicable thereto."I\