4 - City of Oxford

97768- MCIIIIIN-IIMEr
• -
MINUTE BOOK No. 24, CITY OF OXFORD
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND BOARD OF ALDERMEN OF THE
CITY OF OXFORD, MISSISSIPPI, AS FOLLOWS:
SECTION 1. That the Electric Bonds, Series 1969, of the City of Oxford,
Mississippi, be and the same are hereby authorized and directed to be issued
in the principal amount of Two Hundred Fifty Thousand Dollars ($250,000), the
proceeds thereof to be used for the purpose of paying the cost of enlarging,
improving, and extending the electric distribution system of said City, in
accordance with the plans and specifications therefore heretofore adopted. The
said bonds shall bear date of September 1, 1969; shall bear interest from the
date thereof at the rate of six per centum (6%) per annum, payable June 1, 1970,
and semi-annually thereafter on December 1 and June 1 in each year until the
principal of said bonds, respectively, shall have been fully paid. Interest
to accrue on said bonds on and prior to the respective maturity dates thereof
shall be payable upon presentation and surrender of interest coupons to be
attached to said bonds, and no interest shall accrue on said bonds after the
respective maturity dates thereof unless said bonds be duly presented for
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payment at maturity and be not then paid. The said bonds shall be of the denom-
ination of One Thousand Dollars ($1,000) each; and shall be payable, both as to
principal and interest, in lawful money of the United States of America at the
office of the Union Planters National Bank of Memphis, in the City of Memphis,
State of Tennessee, and the said bonds shall be numbered and shall mature in
the amounts and at the times following, to-wit:
(June 1)
BOND NUMBERS AMOUNT MATURITY
1 to 25, Incl. $25,000 1971
26 to 50 25,000 1972
51 to : 75 25,000 1973
76 to 100 25,000 1974
101 to 125 25,000 1975
126 to 150 25,000 1976
151 to 175 25,000 1977
176 to 200 25,000 1978
201 to 225 25,000 1979
226 to 250 25,000 1980
The right shall be and is hereby reserved unto the City of Oxford, at its
option, to call in, pay, and redeem bonds numbered One Hundred Twenty-six (126)
to Two Htindred Fifty (250), inclusive, in the inverse order of their numbers,
at par and accrued interest plus a premium of Twenty Dollars ($20.00) per $1,000
of principal, on June 1, 1975, or on any interest payment date thereafter prior
to maturity, upon the giving of written notice to the paying agent herein desig-
nated at least thirty (30) days in advance of the date upon which said bonds,
or any thereof, are to be so redeemed.