4 - City of Oxford

97768--mmommumma
MINUTE BOOK No. 24, CITY OF OXFORD
The Mayor and Board of Aldermen took up for consideration the matter of
calling a special election for the purpose of submitting to the qualified elec-
tors of the Oxford Municipal Separate School District a proposal for the issu-
ance of school improvement bonds, and, after a discussion of the subject, Ald-
erman Owens offered and moved the adoption of the following resolution:
RESOLUTION CALLING , AND PROVIDING FOR THE
HOLDING OF A SPECIAL ELECTION WITHIN THE
OXFORD MUNICIPAL SEPARATE SCHOOL DISTRICT
OF LAFAYETTE COUNTY, MISSISSIPPI
WHEREAS, the corporate boundaries of the Oxford Municipal Separate School
District embrace the entire area of the City of Oxford and certain additional
territory, and the governing authority of said O x ford Municipal Separate School
District for the purpose of the issuance of bonds is the Mayor and Board of
Aldermen of the City of Oxford, Mississippi; and
WHEREAS, the Board of Trustees of said Municipal Separate School District
has heretofore adopted a resolution requesting the said Mayor and Board of.
Aldermen to call and provide for the holding of an election on the proposition
hereinafter set forth, and has caused a certified copy of said resolution to
be filed with the said Mayor and Board of Aldermen; and
WHEREAS, the Mayor and Board of Aldermen do now find and determine that
it is necessary and advisable and in the best interest of said Oxford Municipal
Separate School. District that certain school improvements and facilities be
provided, as requested by said Board of Trustees and as hereinafter set forth;
and
WHEREAS, the assessed valuation of taxable property within said Oxford
Municipal Separate School District, as ascertained by the last completed assess-
ment, is Fifteen Million, Seven Hundred Twenty-Six Thousand, Two Hundred Twenty-
one Dollars ($15,726,221); and
WHEREAS, the said Oxford Municipal Separate School District now has out-
standing indebtedness aggregating the sum of Nine Hundred Sixty-one Thousand
Dollars 4,961,000); and
WHEREAS, the amount of bonds of said School District hereinafter proposed
to be issued, to-wit: Seven Hundred Fifty Thousand Dollars ( 750,000), when
added to the aforesaid outstanding indebtedness of said District, will not in
the aggregate exceed fifteen per centum (15%) of the aforesaid assessed valua-
tion; and
WHEREAS, the Mayor and Board of Aldermen find and declare that the purposes
for which the proposed bonds are to be issued, as hereinafter set out in the
body of this resolution, are purposes authorized by Chapter 231, Laws of Miss-
issippi. of 190, as amended, and find and determine that the Mayor and Board