4 - City of Oxford

97768— wawa-way.
MINUTE BOOK No. 24 CITY OF OXFORD
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 named at least thirty (30) days in advance of the
date upon Which such bonds, or any thereof, are to be so redeemed.
This bond is one of an authorized issue of two hundred fifty (250) bonds,
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all of like date, tenor, and effect, except as to date of maturity and provision
for redemption prior to maturity, numbered from One (1) to Two Hundred Fifty
(250), inclusive, aggregating the principal sum of Two Hundred Fifty Thousand
Dollars ($250,000), issued for the purpose of paying the cost of enlarging,
improving, and extending the electric distribution system of said City of Oxford,
and is issued pursuant to the Constitution and Laws of the State of Mississippi,
including Chapter 494 of the Laws of the State of Mississippi, for the year 1950,
as amended by Chapter 529, Laws of Mississippi for the year 1958, and pursuant
to resolutions and ordinances of the Mayor and Board of Aldermen of the City of
Oxford. This bond does not constitute an indebtedness of said City within
the meaning of any statutory or charter restriction, limitation, or provision,
and the taxing power of said City is not pledged to the payment hereof, either
as to principal or interest.
The City of Oxford covenant and agrees that it will apply the proceeds of
the series of bonds of which this bond is one to paying the cost of enlarging,
improving, and extending the electric distribution system of said City, and that
as long as this bond or any bond of the series of which it is one, or the in-
terest coupons thereto attached, are outstanding, it will operate and maintain
said system, as so improved; that as long as any of said bonds, or the interest
coupons attached thereto, are outstanding, it will fix and maintain rates and
make and collect charges for the services and facilities Of said system, as so
improved, without regard to the user thereof, sufficient to provide for the
payment of the principal of and the interest on all outstanding Electric Distri-
bution System Revenue Bonds of said City and all outstanding Electric Revenue
Bonds of said City, including this bond, as the same shall mature and accrue,
and for the operation and maintenance of said system in good repair and working
order; and that such an amount of the gross revenues of said system as will
maintain an Interest and Bond Redemption Fund sufficient to pay the principal
of the interest on this bond and the series of which it is one, as the same
shall mature and accrue, is hereby pledged to such purpose.