4 - City of Oxford

'64
97768— =maw=
MINUTE BOOK No. 24, CITY OF OXFORD
AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF
ELECTRIC REVENUE BONDS OF THE CITY OF OXFORD, MISSIS-
SIPPI, IN THE PRINCIPAL AMOUNT OF TWO HUNDRED FIFTY
THOUSAND DOLLARS ($250,000) FOR THE PURPOSE OF PAYING
THE COST OF ENLARGING, IMPROVING, AND EXTENDING THE
ELECTRIC DISTRIBUTION SYSTEM OF SAID CITY; PRESCRIBING
THE FORM AND INCIDENTS OF SAID BONDS; PROVIDING FOR
THE COLLECTION AND DISTRIBUTION OF THE REVENUES TO BE
DERIVED FROM THE SAME SYSTEM IN AN AMOUNT SUFFICIENT
TO PAY SAID BONDS BOTH AS TO PRINCIPAL AND INTEREST,
AND TO PAY THE COST OF OPERATION AND MAINTENANCE OF
SAID SYSTEM.
WHEREAS, the Mayor and Board of Aldermen of the City of Oxford, Mississippi,
having made due investigation, find, adjudicate, and declare:
(a) That on the 3rd day of June, 1969, a resolution was adopted by the
Mayor and Board of Aldermen of said City entitled: "RESOLUTION DECLARING THE
INTENTION OF THE 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 HUN-
DRED FIFTY THOUSAND DOLLARS ($250,000) FOR THE PURPOSE OF ENLARGING, IMPROVING,
AND EXTENDING THE ELECTRIC DISTRIBUTION SYSTEM OF SAID CITY AND DIRECTING PUB-
LICATION OF THE NOTICE OF SUCH INTENTION";
(b) That due notice of said intention was given by publication in The
Oxford Eagle on the following dates, to-wit: on the 5th, 12th and 19th days
of June, 1969; said Oxford Eagle being a qualified newspaper under the provisions
of Chapter 427, Laws of Mississippi, 1948;
(c) That more than ten (10) days have now expired since the last publica-
tion of the aforesaid notice and no petition of any kind or character signed
by voters of the said City has been filed objecting to or protesting against
the issuance of said bonds;
(d) That the Mayor and Board of Aldermen of said City of Oxford, Missis-
sippi, are now fully empowered and legally authorized to issue the said bonds;
(e) That on the 1st day of July, 1969, the said Mayor and Board of Alder-
men did adopt a further resolution directing that bids for said bonds in the
amount of Two Hundred Fifty Thousand Dollars ($250,000) be received on the 5th
day of August, 1969, and did make provisions for the giving of notice of the
sale of said bonds, as required by Chapter 325, Laws of Mississippi, 1946;
(f) That on said 5th day of August, 1969, pursuant to publication of
notice of sale, as aforesaid, the said bonds were awarded and sold to the high-
est and best bidder therefor;
(g) That provision should now be made for the preparation, execution,
issuance, and delivery of the said bonds as so authorized and sold; and
WHEREAS, the Mayor and Board of Aldermen of the City of Oxford further
find, adjudicate, and declare that plans and specifications for the construction
of the aforesaid enlargments, improvements, and extensions to the electric dis-
tribution system of said City heretofore have been prepared by authority of this
body and heretofore have been approved by this body and are now on file in the