Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-12-07
IExHIsIT

An Es to psoTids for tbs payment Of the War Tax.
SECTION l. Be e enacted By the General Assembly of
the State Of TneSses That the State hereby assumes
aud agrees to pay the War tax to be assessed upon
the property &c. Of the people Of the State Of Ten
nessee in obedience to the provisions of the of
the Congress of the Confederate States Of America
approved August 18th, 1881, and entitled IAN act
to authorize the issue Of Treasury notes, and to
provide war tax for their redemption - and for
the purposes of carrying out the provisions of this
act the Governor OF this State is hereby directed
and empowered to issue and dispose Of the Bonds
of the State Of Tennessee to 3 sufficient amount to
pay said tax mot to exceed two millions of dollsrs
similar in all respects to the Bonds Of the State
heretofore issued, except that one-ffth of said
Bonds shall be payable one year after their date
Onefth two years after their date, one fifth three
years after their date, one-flth four years after
their date. and fifth ave years after their date
all 70 be dated the lst day Of April 1852 and
bear interest at the rate Of eightper cent per an
nam, payable semi-snnually At slch point as may
be designated in said bonds and said bonds shall be
in denominations Of not less than one hundred dol
lars and not more than one thousand dollars, to
each Of which shall be attached coupons for the
interest due thereon.
SIC. Be e further enacted That the faith ard
credit of the State Of Tennessee is hereby pledged
fer the payment Of ssid bonds and the interest on
the same; and that for the next five years an an
nual Of ten cents on the hundred dollars Of
property subject TO taxation by existing laws and
OnG-IOuFtQ OF one per Seutum upon Elo uOllAE o.
merchandise, or invoice price, whether bought in
or out Of the State and ten cents on the poll sh4l
be assessed ard collected 3 special tar for the
purpose Of paying said bonds and interest st ma
turity.
SEC g. Be farthsr enacted, That the banks Of
this State are hereby specially authorised to invest
their means in said bonds, and said banks purchas
ing any Of said bonds shall have the privilege Of
chasing bonds 50 purchased, in the classification
Of their assets as specie fundsj provided
that the State shall have the right TO pay
said bonds, 30 purchased By said banks,
IN their own notes and provided further,
that all the Bends issued under the provisions Of
this act ahall be free from State County Corpora
ton and other taxes In the hands Of individuals
corporations.
SIC 4. Be It further eHsetsd, That the Governor is
authorised and requested to issue and negotiate said
Bonds as soon practicable for the Treasury notes
of the Confederate States of America and with such
Treasury notes to pay to the Government of the
Confederate States, or be ore LIST day Of April.
1863, the amount Of said tax assessed upon the
property of the people Of the State Of Tennessee.
ess ten per centum thereon, a. provided in 24th
Sec Of said act of Congress, approved August 18th
1861, az aforesaid
SEQ. s. Be 1t further enacted That Revenue Cellec-
tors shall be entitled to receive for their services in
collecting thiG special tax only half of the COM
missions and fees allowed them for collecting the
general F.V:nue Of tle Stats AMI counties.