4 - City of Oxford

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97768— arcason-sorm
MINUTE BOOK No. 24, CITY OF OXFORD
SECTION 3. That the good faith checks filed by all unsuccessful bidders
forthwith be returned to them upon their respective receipts therefor, and that
the good faith check filed by the successful bidders be retained by the City
as a guarantee that the bidders will carry out their contract and purchase the
bonds. If the successful bidders should fail to purchase the bonds pursuant
to their bid and contract, the amount of such good faith check shall be retained
by the City of Oxford as liquidated damages for such failure.
SECTION 4. That the Mayor and Board of Aldermen shall hereafter, by proper
ordinance or resolution, provide for the preparation, execution, and delivery
of the aforesaid bonds in accordance with the terms of the contract for the
sale thereof.
Alderman King seconded the motion to adopt the foregoing resolution, and,
the question being put to a roll call vote, the result was as follows:
Aldermen voting YES: Hannaford, King, Sisk, McLaurin and Owens
Aldermen voting NO: None
The motion having received the affirmative vote of all the Alderman pre-
sent, the Mayor Pro Tem declared the motion carried and the resolution adopted,
this 21st day of May, 1968.
*
The Mayor and Board of Aldermen took up the matter of the issuance of
Eighty-five Thousand Dollars ($85,000) Public Improvement Bonds of the City
of Oxford, Mississippi, as contracted to be sold on the 21st day of May, 1968.
After a discussion of the subject, Alderman Sisk offered and moved the adoption
of the following resolution:
A RESOLUTION AUTHORIZING AND DIRECTING THE ISSUANCE OF
BONDS IN THE AMOUNT OF EIGHTY-FIVE THOUSAND DOLLARS
($85,000) FOR VARIOUS PUBLIC IMPROVEMENTS IN THE CITY
OF OXFORD, MISSISSIPPI; SETTING OUT THE FORM OF SAID
BONDS AND THE COUPONS TO BE ATTACHED THERETO; DETERMIN-
ING THE RATES OF INTEREST, MATURITIES, AND PLACE OF PAY-
MENT THEREOF; AND MAKING PROVISION FOR THE LEVY OF A
TAX SUFFICIENT TO PAY SAID BONDS AND THE INTEREST THEREON
AS THE SAME MATURES AND ACCRUES.
WHEREAS, heretofore, to-wit: on the 19th day of March, 1968, the Mayor
and Board of Aldermen of the City of Oxford, Mississippi, did adopt a certain
resolution declaring the intention of the Mayor and Board of Aldermen of the
City of Oxford to issue pUblic improvement bonds of the said City in the amount
of Eighty-five Thousand Dollars ($85,000) to provide funds in the amount of
Thirty-five Thousand Dollars ($35,000) for the purpose of equipping a community
recreational building in Stone Park in said City; in the amount of Twenty-five
Thousand Dollars ($25,000) for the purpose of purchasing fire-fighting equipment
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