Book 14 (January 1950 - July 1954) - City of Oxford

82! ....MINUTE BOOK No. 14, CITY OF OXFORD/:lA REsOWTION AUThORIZING, INSTRUCTING AND EMPa'fERING THE MAYOR OF THE CITY OF OXFORD, MISSISSIPPITO ENTER INTO A CONTRACT WITH THE TENNEiSEE V ALLEY AUTHORITY FOR THE PURCHASE FROM THEAUTHORITY OF ELECTRIC POWER AND FOR AGREEMENT WITH SAID AUTHORITY ON THE CONSTRUCTION OF ASUBSTATION AND TRANSMISSION LINE AND OTHF~ NECESSARY IMPROVEMENTS ON THE PRESENT DISTRIBU­TION SYSTEM.WHEREAS, at a Special Advisory Election, held on Tuesday, March 14, 1950, at the instanceof the Mayor and Board of Aldennen of the City of OXford, Mississippi, for the purpose of determiningwhether or not the City of Oxford, 1I1issi ssippi should issue it s El8 ctric Revenue Plantbonds in the maximum amount of $165,000.00 for the purpose of :illlproving the electric gEl'leratingsystem of said City by purchasing and installing a diesel electric generating unit and appurtenancesthereto, am making other necessary repairs and improvements upon the present electricpower plan~, OR, should the City of OxfOrd, Mississippi, issue its EJectric Plant R8venue Bondsin the IIB.Ximum amount of $75,000.00 for thepurpose of contracting with the Tennessee ValleyAuthority for the purchase from the Authority of electric power and for the constructioo of asubstation and the erection of a transmission line from the Tennessee Valle,y Authorit~ SUbstationto the new city substation and to make necessary extensions and improvements to the present distributionsystem of the City of Oxford, MlssissiWi; and,WHEREAS, at said Special Advisory Election the qualified elector sof til! City of Oxford,Mississippi, by a vote of 504 to 202, expressed their preference for the City of Oxford,Mi ssiss ippi issuing it s ElectriC Plant Rave nue Bonds in the amount of $75,000.00 fo r thepurpose of contracting with the Tennessee Valley Authority for the purchase from the Authorityof electric power and for the construction of a substation am the erection of a transmissionline from. the Tennessee Valley Authority substation to the new city substation and to makenecessary extensions and improvements to the present distribution system of the City of Oxford,Mississippi; and,WHEREAS, in pursuance of the determination of a majority of the qualified electors of theCity of Oxford, Mississippi to contract with the Tennessee Valley Authority as aforesaid, aSpecial Bond Election was held on Tuesday, MS¥ 2, 1950, to determine whether or not the City ofOxford, MississiWi should issue its Electric Plant Revenue Bonds in the maximum amount of$75,000.00 for the construction of a substation and the erection of a transmission line from theTennessee Valley Authority substation to the new City alibstation and to make necessary extensionsam :improvements to the present distribution system of the City of Oxford, iUssissiWi, and,;I]HEREAS, at the election held on Tuesd~, May 2, 1950, the qualified electors ar the Cityof Oxford, MississiWi decided by a vote of 326 to 40 in favor of the issuaa:eof said City'sElectric Plant Revenue Bonds in the maximum amrunt of $75,000.00 for the purposes set forth inthe paragraph herein immediately next above; and,WHEREAS, The Tennessee Valley Authority, an agency of the United states Go'iernment, hasoffered to contract with the City of Oxford, MississiWi, and to sell to said City electric power,if the City will erect a new power substation and transmission lines fran the T81nessee ValleyAuthority substation to the new Oxford substation, ani will make necessary extensions and improvementsto the present distribution system of the said City of Oxford, and for the City tocomply with the offer made by the TErlIlessee Valley Authority the $75,000.00 Electric PlantRevenue Bond issue was necessary and authorized by the qualified electors of the City of Oxfcrd,Mississippi at the Special Bond Electioo held on Tuesday, May 2, 1950, as hereinabove set forth;now, th erefore ,Section 1. Be and it is hereby resolved and ordered by the Mayor and Board of AJdermen ofthe City of Oxford, Mississippi, after due and careful cCllsideration of the contract offered bythe Tennessee Valley Authority to the City of Oxfied in the body of this reso1ution;Section 2. Be and it is hereby further resolved and ordered by the MS¥or and Board ofAldermen of the City of Oxford, It4issis sippi, that said governing body approved the City ofOxfcrd, Miss is sippi entering into said contmct as shoYl1 by EXHIBIT "A" hereto attached as parthereof, with said Tennessee Valley Authority, and hereby authorizes, instructs am empowersR. X. Williams, Mayor of the Ci1:q of OXford, Mississ jppi, for ani on behalf of the City of Oxford,M:i.ssissiW i , to execute said contract with the Tennessee Valley Authority in his official capacityas Mayor and under the official seal of the City of Oxford, l4.issis:ippi.Section 3. Be and it is further resolved and ordered by the Mayor and Board of Aldermen oftiE City of Oxfoni, lI.ississi. ppi, that the said R. X. Williams, M~or of the City of ~s, voted Yea.Aldernan B. J. Hilbun, voted Yea.Alderrnan H. S. Sisk, voted Yea.