4 - City of Oxford

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97768— aromm-aupors
MINUTE BOOK No. 24, CITY OF OXFORD
RESOLUTION DECLARING THE INTENTION OF TOTE MAYOR
AND BOARD OF ALDERMEN OF THE CITY OF OXFORD,
MISSISSIPPI, TO ISSUE ELECTRIC REVENUE BONDS OF
SAID CITY IN THE MAXIMUM AMOUNT OF TWO HUNDRED
FIFTY THOUSAND DOLLARS ($250,000) FOR THE PURPOSE
OF ENLARGING, IMPROVING, AND EXTENDING THE ELEC-
TRIC DISTRIBUTION SYSTEM OF SAID CITY AND DIRECTING
PUBLICATION OF THE NOTICE OF SUCH INTENTION.
WHEREAS, the Mayor and Board of Aldermen of the City of Oxford, Lafayette
County, Mississippi, find. and determine that it is necessary and in the public
interest that the electric distribution system of said City be enlarged, improve
and extended; and
WHEREAS, this Board, having made due investigation finds and declared that
the cost of enlarging, improving, and extending said electric distribution
syStem will be Two Hundred Fifty Thousand Dollars ($250,000); and
WHEREAS, no funds are available in the City Treasury for the payment of
the cost of such enlargements, improvements, and extensions; and
WHEREAS, the City of Oxford is authorized by Chapter 494, Laws of Mississip
1950, as amended by Chapter 529, Laws of Mississippi for the year 1958, to issue
its electric revenue bonds payable, both principal and interest, solely from
the revenues derived and to he derived from the operation of its electric dis-
tribution system, for the purpose of enlarging, improving, and extending such
system in the manner provided by said Chapter 494, as amended.:
NOW, THEREFORE, BE TT RESOLVED BY THE MAYOR AND BOARD OF ALDERMEN OF THE
CITY OF OXFORD, MISSISSIPPI, AS FOLLOWS:
SECTION 1. That the Mayor and Board of Aldermen of the City of Oxford,
Mississippi, hereby declare their intention to issue and sell electric revenue
bonds of said City in the maximum principal amount of Two Hundred Fifty Thousand
Dollars 250,000) to provide funds for the payment of the cost of enlarging,
improving, and extending the electric distribution system of said City; said
bonds to be payable, both principal and interest, solely from the revenues de-
rived and to be derived from the operation of said electric distribution system.
SECTION 2. That the City Clerk be and is hereby authorized and directed
to publish notice of the intention of the Mayor and Board of Aldermen to issue
said bonds in said amount for said purpose; said notice to be published in The
Oxford Eagle, a newspaper published in said City, once a week for (1) consecu-
tive weeks, to be in substantially the following form:
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