4 - City of Oxford

97768 maxwiummt
MINUTE BOOK No. 24, CITY OF OXFORD
NOTICE OF THE INTENTION OF THE MAYOR AND BOARD OF ALDERMEN
OF THE CITY OF OXFORD, MISSISSIPPI, TO TSSUE ELECTRIC REVE-
NUE BONDS OF SAID CITY IN TUE MAXIMUM AMOUNT OF TWO HUNDRED
FIFTY THOUSAND DOLLARS ($250,000) FOP THE PURPOSE OF ENLARG-
ING, IMPROVING, AND EXTENDING THE ELECTRIC DISTRTBUTTON SYSTEM
OF SAID CITY, AND NOTICE OF THE VOTERS' RIGHT TO PETITION,
OBJECTING TO AND PROTESTING AGAINST THE ISSUANCE OF SUCH BONDS.
PUBLIC NOTICE is hereby given, pursuant to a resolution adopted on
the 9rd day of June, 1969, by the Mayor and Board of Aldermen
of the City of Oxford, Mississippi, that it is the intention of
said Mayor and B o ard of Aldermen 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, imrpving, and
extending the electric distribution system of said City; said
bonds to be payable in installments extending over a period of
not more than ten (10) years: to hear interest at a rate to he
determined pursuant to the sale of said bonds, not exceeding
six per centum (6%) per annum; said bonds shall be secured by
and shall be payable solely from the revenues derived and to
be derived from the operation of the electric distribution system
of said City. Said bonds shall be issued pursuant to and by
authority of Chapter 494, Laws of Mississippi, 1950, as amended
by Chapter 529, Laws of Mississippi, 1958.
Tf, within ten (10) days after the last publication of this
Notice, a petition, signed by not less than twenty per centum
(20%) of the qualified voters of the City of Oxford, he filed,
objecting to and protesting against the issuance of such electric
revenue bonds as intended, then such bonds shall not he issued
until the question of the issuance of such bonds shall he sub-
mitted to a special election ordered for the purpose of determining
whether or not a majority of those voting in such election shall
vote for or against such revenue bond issue. Tf a majority of
those voting in such election shall vote against such issue,
the bonds shall not he issued.
Tf a majority of those voting in such election shall vote for
such bonds, then the bonds shall be issued and shall he sold
under the regular proceedirn , s for selling such bonds.
Done by order of the Mayor and Board of Aldermen of the
City of Oxford, Mississippi, this 3rd day of June, 1969.
ATTEST:
MAYOR
SFCTTON 9. That the Cit Clrrk shall he and is hereby directed to procure
from the publishers of the aforesaid newspaper the customary proof of the pub-
lication of the notice substanti,illY as herein provided and to nresert the same
• to this Mayor and Board of Aldermen at the first meeting thereof following* the
third and last publication of said notice.
Alderman Owens seconded the motion to adopt the foregoing resolution, and,
the question being put to a roll call vote, the result was as follows: