4 - City of Oxford

97768— warweatc.
MINUTE BOOK No. 24, CITY OF OXFORD
year to comply with the requirements of this Sectiop, such failure shall not
impair the right of the holders of any of said bonds in any subsequent year
to have adequate taxes levied and collected to meet the obligations of the
bonds herein authorized to be issued, both as to principal and interest. The
proceeds of such tax shall be credited to the School Bonds Interest and Sink-
ing Fund.
SECTION 4. That the proceedings had incident to the issuance of
the bonds herein authorized shall be submitted to validation under the provi-
sions of Title 18, Chapter 1 of the Mississippi Code of 1942, and to that end
the City Clerk be and is hereby authorized and instructed to make up and cer-
453
tify to the State's Bond Attorney a full and complete transcript of proceedings
and other documents in relation to the authorization and issuance of said bonds
SECTION 5. That when the said bonds shall have been prepared, vali-
dated, and executed as herein provided, they shall be registered by the City
Clerk in a book kept for that purpose in his office, and the said Clerk shall
sign the registration and validation certificate endorsed thereon.
SECTION 6. That, when the said bonds shall have been registered as
hereinabove provided, the City Clerk be and is hereby authorized and instructed
to deliver the same to the purchasers thereof in accordance with the terms of
sale and award.
SECTION 7. That the proceeds received upon sale and delivery of
the bonds herein authorized to be issued, immediately upon receipts thereof,
shall be set aside in a separate fund and shall be used for the purpose of
purchasing additional lands for school purposes, erecting and equipping an
elementary school building and related facilities therefor and providingheo
essary water, light, heating, and sewerage facilities therefor and for the
schools in said district. The accrued interest received upon sale and delivery
of the aforesaid bonds shall be deposited forthwith in and credited to the
School Bonds Interest and Sinking Fund referred to in Section 3 of this reso-
lution.
SECTION 8. That all orders of resolutions, or any part thereof,
which may in any manner conflict with the provisions of this resolution, shall
be and the same are hereby repealed and rescinded insofar as they may so con-
flict.
SECTION 9. That, (1) the issuance of the bonds herein described hav-
ing been authorized at an election held in said District on the 15th day of
July, 1969, (2) the said bonds having been contracted to be sold on the 18th