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PUBLIC NOTICE

There came on for consideration the matter of the sale and issuance of general obligation bonds of the City of Natchez, Mississippi and, after a discussion of the subject matter. Alderman Davis offered and moved the adoption of the following resolution:
RESOLUTION OF THE MAYOR AND BOARD OF ALDERMEN OF THE CITY OF NATCHEZ, MISSISSIPPI DECLARING THE INTENTION TO ISSUE GENERAL OBLIGATION BONDS OF THE CITY IN A PRINCIPAL AMOUNT OF NOT TO EXCEED TWO MILLION TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($2,250,000.00) FOR THE PURPOSE OF (A) ERECTING MUNICIPAL BUILDINGS, ARMORIES, AUDITORIUMS, COMMUNITY CENTERS, GYMNASIUMS AND ATHLETIC STADIUMS, PREPARING AND EQUIPPING ATHLETIC FIELDS, AND PURCHASING BUILDINGS OR LAND THEREFOR, AND FOR REPAIRING, IMPROVING, ADORNING AND EQUIPPING THE SAME, AND FOR ERECTING, EQUIPPING AND FURNISHING OF BUILDINGS TO BE USED AS A MUNICIPAL OR CIVIC ARTS CENTER; (B) PURCHASING LAND FOR PARKS, CEMETERIES AND PUBLIC PLAYGROUNDS, AND IMPROVING, EQUIPPING AND ADORNING THE SAME, INCLUDING THE CONSTRUCTING, REPAIRING AND EQUIPPING OF SWIMMING POOLS AND OTHER RECREATIONAL FACILITIES; (C) PURCHASING FIRE-FIGHTING EQUIPMENT AND APPARATUS,AND PROVIDING HOUSING FOR SAME, AND PURCHASING LAND THEREFOR; AND (D) TO PAY THE COSTS OF ISSUANCE; DIRECTING PUBLICATION OF NOTICE OF SUCH INTENTION; AND FOR RELATED PURPOSES.
WHEREAS, the Mayor and Board of Aldermen of the City of Natchez, Mississippi (the “Governing Body”), acting for and on behalf of the City of Natchez, Mississippi (the “City”) are authorized by Sections 21-33-301 et seq., Mississippi Code of 1972, as amended and supplemented from time to time (the “Act”) to issue general obligation bonds to raise money for following purposes, as set forth therein, (a) erecting municipal buildings, armories, auditoriums, community centers, gymnasiums and athletic stadiums, preparing and equipping athletic fields, and purchasing buildings or land therefor, and for repairing, improving, adorning and equipping the same, and for erecting, equipping and furnishing of buildings to be used as a municipal or civic arts center; (b) purchasing land for parks, cemeteries and public playgrounds, and improving, equipping and adorning the same, including the constructing, repairing and equipping of swimming pools and other recreational facilities; (c) purchasing fire-fighting equipment and apparatus, and providing housing for same; and (d) providing the costs of issuance thereof (collectively, the “Project”); and
WHEREAS, the assessed value of all taxable property within the City, according to the last completed assessment for taxation for FY 2023, is One Hundred Forty Eight Million One Hundred Two Thousand Six Hundred Seventy Five Dollars ($148,102,675). The City has outstanding bonded indebtedness subject to the fifteen percent (15%) debt limit prescribed by Section 21-33-303 of the Act, in the amount of Two Million Dollars ($2,000,000) and outstanding bonded and floating indebtedness subject to the twenty percent (20%) debt limit prescribed by Section 21-33-303 of the Act (which amount includes the sum set forth above subject to the 15% debt limit) in the amount of Two Million Dollars ($2,000,000); the issuance of the bonds hereinafter proposed to be issued, when added to the outstanding bonded indebtedness of the City, will not result in bonded indebtedness, exclusive of bonded indebtedness not subject to the aforesaid fifteen percent (15%) debt limit, of more than fifteen percent (15%) of the assessed value of taxable property within the City, and will not result in indebtedness, both bonded and floating, exclusive of indebtedness not subject to the aforesaid twenty percent (20%) debt limit, in excess of twenty percent (20%) of the assessed value of taxable property within the City and will not exceed any constitutional or statutory limitation upon indebtedness which may be incurred by the City.
WHEREAS, the City is authorized pursuant to the Act to issue the bonds hereinafter proposed to be issued for the Project, for which purpose there are no other available funds on hand, and reasonably expects that it will incur expenditures for the Project prior to the issuance of said bonds and that it should declare its official intent to reimburse expenditures made in anticipation of the issuance of said bonds.
WHEREAS, the City recognizes that certain other provisions will be necessary in preparation for the undertaking of the issuing of the bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF ALDERMEN AS FOLLOWS:
SECTION 1. The Mayor and the Board of Aldermen, acting for and on behalf of the City, does hereby declare its intention to issue general obligation bonds of the City in the maximum principal amount of Two Million Two Hundred Fifty Thousand and No/100 Dollars ($2,250,000.00) (the “Bonds”) for the Project. Pursuant to Section 1.150-2 of the Treasury Regulations (the “Reimbursement Regulations”), the Board hereby declares its official intent to reimburse expenditures made for the Project prior to the issuance of the Bonds with proceeds of the Bonds to the extent permitted by the Reimbursement Regulations. The Bonds will be general obligations of the City payable as to principal and interest out of and secured by an irrevocable pledge of the avails of a tax to be levied annually upon all the taxable property within the geographical limits of the City, which tax, together with any other moneys available for such purpose, shall be sufficient to provide for the payment of the principal of and the interest on the Bonds according to the terms thereof.
SECTION 2. The Mayor and the Board of Aldermen propose to direct the issuance of the Bonds in the amount, for the purpose and secured as aforesaid at a meeting of the Mayor and the Board of Aldermen to be held at its regular meeting place in City Council Chambers, 115 S. Pearl St, Natchez, Mississippi, at 6:00 o’clock p.m. on Tuesday, the 23th day of August, 2022, or at some meeting held subsequent thereto. If twenty percent (20%) or fifteen hundred (1500), whichever is less, of the qualified electors of the City shall file a written protest with the City Clerk against the issuance of such bonds on or before the aforesaid date and hour, then such bonds shall not be issued unless authorized at an election on the question of the issuance of such bonds to be called and held as provided by law. If no protest be filed, then such bonds may be issued without an election on the question of the issuance thereof at any time within a period of two (2) years after the date above specified.
SECTION 3. This resolution shall be published once a week. for at least Three (3) consecutive weeks in The Natchez Democrat, a newspaper published in the City of Natchez, Mississippi, and having a general circulation in the City and qualified under the provisions of Section 13-3-31, Mississippi Code of 1972. The first publication of this resolution shall be made not less than twenty-one (21) days prior to the date fixed herein for the issuance of said bonds, and the last publication shall be made not more than seven (7) days prior to such date.
SECTION 4. The City Clerk shall be and is hereby directed to procure from the publisher of the aforesaid newspaper the customary proof of the publication of this resolution and have the same before the Mayor and the Board of Aldermen on the date and hour specified in Section 2 hereof.
SECTION 5. The Governing Body authorizes Watkins & Eager, PLLC, Jackson, Mississippi, to serve as Bond Counsel (the “Bond Counsel”), and authorizes the Mayor to execute the letter of engagement attached hereto as Attachment “A”; Bryan H. Callaway, Esq., to serve as City Counsel, (the “City Counsel” or “Issuer’s Counsel”), Government Consultants, Inc., Madison, Mississippi, to serve as Municipal Advisor (the “Municipal Advisor”) and authorizes the Mayor to execute the letters of engagement and disclosure attached hereto as Attachment “B”. The Governing Body authorizes the compensation of said parties through negotiated agreements executed by the Mayor, payable from funds to be determined by the Mayor, in a manner not inconsistent with the Act.
Alderman Davis moved and Alderwoman Hall seconded the motion to adopt the foregoing resolution, and the question being put to a roll call vote, the result was as follows:

Alderwoman Valencia Hall voted: Aye
Alderman Billie Joe Frazier voted: Aye
Alderwoman Sarah Carter-Smith voted: Aye
Alderwoman Felicia R. Bridgewater-Irving voted: Aye
Alderman Benjamin Davis voted: Aye
Alderman Daniel Dillard voted: Aye

The motion having received the affirmative vote of a majority of the members present, the Mayor declared the motion carried and the resolution adopted, on this the 26th day of July, 2022.

/s/ Dan M. Gibson
Dan M. Gibson
Mayor, City of Natchez

ATTEST:
/s/ Megan McKenzie
City Clerk

Natchez Democrat: July 29, Aug. 5, 12 and 19, 2022
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