The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1870-02-12
BANR OF TENNESSEE NOTES.
Their Status Finally adjusted 5y the
Legislature.
One Of the Host Important La,es Of The
Session.

We publish below the full text of the law
just passed by the General Assembly with
regard to receiving Bank of Tennessee
notes for taxes and which contains other
important provisions concerning the fuan-
cial interests of the State
a bill to be entitled, "An Act directory to
the Revenue Officers Of the State, and for
other purposes"
SECTION / Be it enacted By the General
Assembly Of the State Of Tennessee, That
notes of the Bank of Tennessee issued prior
TO the 9th day of May, 1861, United States
egal-tender currency, National bank notes,
specie, and warrants issued by the Comp
trolier of the Treasury, in the hands of the
person TO whom issued, shall be received In
discharge of all taxes, and other moneys
heretofore and hereinafter due the State;
ProUided, That notes of the Bank of Ten
nessee issued prior to the 9th day of May,
1861, which have already been collecsed 10
good faith from the tax payer, by any col
lecting officer, be receivable by the Comp
troller and Treasurer, on settlement for
such taxes due the State
SEC. 2 Be 1t further enacted, That the
Fourth National Bank at Nashville shall be
the designated depository at Nashville, and
the Peoples Bank at Knoxville, and the
Union and Planters Bank at Memphis, and
the First National Bank at Chattanooga;
and such banks, as repositories, shall give
bond according to law for the safe keeping
of the revenue Of the State deposited with
them That the banks designated as the
repositories Of the public moneys belonging
to the State, shall be required to receive,
from the clerks and tax-collcctors, the notes
Of the Bank of Tennessee, issued prior TO
the 9th day of May, 1861, on special deposit
Provided that said clerk or tax-coIlector
shall file with the cashier of the bank an
oath, in duplicate, taken and subscribed be-
fore some person authorized by law to ad-
minister oaths in this State. and duly
certified that the identical kind and amount
of the n1tes of the Bank of Tennessee, so
offered for deposit, were received by him
directly from the taxpayers in payment of
taxes or other moneys due the State Said
oath shall state the specific amount offered
on special deposit. One of said oaths the
cashier of the bank designated as a deposl-
tory, shall forward Immediately to the
Comptroller of the Treasury, and shall file
the other with the bank The cashier
aforesaid shall execute or deliver to the
Clerk or Tax Collector duplicate receipts for
the amount of said notes of the Bank of
Tennessee thus deposited, cne of which
receicts the CLERK or Tax Collector shall
deliver or transmit to the Comptroller, to be
filed by him, and shall retain the other
and thereupon the Comptroller shall issue
his warrant to the State Treasurer authOriz-
ing him to charge such depository with the
amount and kind of public money so de-
posted, and the bank in which said money
Is deposited, shall at least once u month
send by express, or other safe means, TO the
State Treasurer at Nashville all the public
money paid in Oh special deposit, rs pro-
yided for In this act and the Treasurer on
receiving the money shall receipt the same,
and shall thea place it as a special deposit
in the bank designated as a public deposi
tory at Nashville, to the credit of the
Treasurer of the State of Tennessee, and
shall be drawn only by the check Of the
Treasurer, countersigned by the Comp
troller
SEC. 3. Be it further enacted, That ifany
Clerk or Collector shall swear falsely IN
making the oath or oaths required by this
act, it shall be perjury, and upon conviction
thereof be shall be punished as now prOvid-
ed by law in cases of perjury, and 1t shall
be the duty of the judges Of conrts of this
State IL which a grand jury Is impannelled
to give this act in charge to such grand
jury.
SEC. 4. Be 1t further enacted, That if any
Clerk, Tax Collector or Comptroller or
Treasurer charged with collecting receiving
or paying out the revenues of the State,
shall directly or indirectly engage 10 specu-
lating IN the said notes of the Bank Of
Tennessee, specie, United States legal ten.
der notes, National Bank notes or warrants
issued by the Comptroller, collected or re
ceived by them or either of them as revenue
from the State; or shall pledge, loan, or
hypothecate or otherwise convert or dispose
Of such revenue, or any part thereof, with
81 L, IL 4.
shall be guilty of a felony, and upon con
vietien thereof shall be punished by
imprisonment in the penitentiary Of this
State for a period of time not less than
three nor more than ten years.
SEC. >. Be 1t further enacted, That all
revenue due the State, except the notes Of
the Bank Of Tennessee, received or here
after received IN payment of taxes, shall be
paid over by clerks or tax collectors as
provided by laws prior to the passage OF this
act
SEC. e Be ii. further enacted That should
either OF the present repositories refuse to
receive and take care of the notes of the
Bank of Tennessee as herein contemplated
then the Governor, Comptroller and Treas
urer shall select some other bank IN that
city which will so receive said funds, and
thereafter all State funds for that section
Of the State shall be placed in such new
depository, upon bond being given as
required by law.
SEC I. BE IL further enacted That the
provisions Of the second, third, fourth, fifth
and sixth sections Of this act shall apply to
any tax or revenues hereafter assessed and
due and collected.
&c: g. BE 1t further enacted, That the
Treasurer Of this State shall pay out 20 all
persons OF the warrant Of the Comptroller
said notes Of the Bank of Tennessee, on
condition that such persons are willing to
receive them at par IN payment Of debts
from the State due them: PToCidsd, how
ever, that one-fourth Of the amount Of said
notes Of the Bank Of Tennessee received
annually into the Treasury, shall be can