The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1875-12-16
Legal Notice.

THE Directors of the Memphis &
Knoxville Railroad company this day
presented their petition TO the Board Of
Mayor aud Aldermen of the town Of
Bolivar, and it appearing that the said
Memphis IL Rockville railroad company
Is a company Incorporated and organized
I under the avs Of Tennessee, and that
the entire line Of the said road has been
/ surveyed by a competent engineer, and
/ substan italy located BY designating the
| termini thereOf--Memphis, Tenness ee,
/ being the western, and Fayetteville,
| Tennessee, the eastern terminus at
! pTesent-and apprOximating the general
direction of the road. And the said
! Board of Directors having made appi-
! cation by their said petition to the BOari
| Of Mayor and a l1ermen OF the town of
! Bolivar for Z subscription OF $50 00J to
/ the capital stock of said company, ia
accordance with the provisions of the
Code of Tennessee and of the act of the
/ Assembly subsequent thereto, and fled
/ with their said application an estimate
| Of the grading, embankment and mason
! ~, by a competent engineer, under oatd
| as required by law Ii is Therefore or
dered by the 30 iTd Of Mayor and Alder
men, that the Sheriff Of Hardeman coun-
ty, after giving the notice required by
/ law, open and hold an election at the
I usural voting places in the town Of Boil
var, on the 23d day of December, 1875,
for the purpose of obtaining the appro-
baton of the legal voters of the said
town of Bolivar to said proposed sub
scription. The terms of subscription to
be as follows, and upon the following
conditions:
1st. The Mayor of Bolivar shall sub
in hn Of Ia nd
Aldermen of the town of Bolivar, Ten
nessee, $4,000 to the capital stock of
the Memphis IL Knoxville railroad com
pany, to be paid in the bonds of the
corporation of Bolivar, signed by the
Mayor and cOuntcrsigned by the Recor
der, and bearing interest as the rate of
per cent per annum-the interest pays
bic at Bolivar on the LIST day of January
each year, and the principal of said
bonds payable at u livar twenty years
after their respective dates, reserving the
right to the cor pOratiOn of Bolivar 20 pay
the principal Of any of said bonds at any
time before their maturity By giving six
months notice in some newspaper pub
Iished in Memphis, Tennessee, desiSuat-
luG the bonds they may wish to pay.
p The bonds issued in payment OF
: said subscription shall be, one-third oil
Z the uGIOLIluAEtDA Ol Ouo uuhuEeu uOE
lars, and the balance of the denomination
Of five hundred dollars, with coupons
attached, eYidencing the interest due
Z thereon on the lst day Of January OIL
each year until maturity; and shall be
dated upon the day they are actually is
: sued and paid out upon said subscrip
, ton.
: Sd. Certificates OF st ock in the CAPT
= tai stock OF said railroad company, shall
be issued to the Mayor and Aldermen oil
|, Bolivar, Tennessee, by the proper oficel
} Of said company, for the full amount O
, the face value of the bonds issued anC
q delivered to them, and at the time of sucl
delivery.
. Ash. The dividends upon the stock il
= said railroad eomIany belonging to thu
e Mayor and Aldermen Of Bolivar shall
be used Ia paying the interest upon SAT-
bonds, and in paying the principal unit
they are discharged And the board 0
Mayor AMI Aldermen shall have tn
e power to sell any or all of said stock an
D apply the proceeds to the payment of an
. bonds hereby authorized, which may b
!, outstanding; pTosided, said stock shal
not be sold for less than its face value
tie without the assent Of the legal voters o
< the town Of Bolivar, obtained Us the Il,
n directs.
q 9th. The proceeds of all the bond
issued in payment of said subscription
shall be used in the construction an
10 completion of said railroad in Hardema
! county, east of Bolivar
= 9th. The bonds of the corporation {
Bolivar, in payment of said subscription
> shall be Issued only as follows: Upo
the application of the President Of sal
railroad company, the bonds shall not b
d, issued until q written statement signe
* by the President and Engineer of sal
n railroad company, under oath, has bee
rs filed with the Recorder, showing sufF
Cient means in their estimation, givin
/, facts and figures, have been secured I
< compl- te tue work of grading said roa
r to Henderson, and then In monthly il
5 stalments to pay for the work as it
done.
* 7th For the purpose of paying th
4 bonds issued in discharge of said sui
6 scription, the Mayor and Aldermen
! Bolivar shall each and every year unit
said bonds have all been 'pald, asses,
10 levy, and collect tax upon the taxabl
), property of said town, liable by law {
st be taxed for corporation purposes, Whic
l. shall be sufficient, with the dividends u
cTuelDg upon the stock IL said rdilrOa
4 company TO amount to a suiiciency
- pay the annual interest accrueing on sal
; bonds, each year, and bonds as they IA
!, due exclusive Of the cast and expense
of coiiectic n, which said sum shall b
applied to the pay ment Of the interest 0
= said bonds.
y And said board Of Mayor and Aida
IT, man Of the aforesaid town of BOLIVIA
&c shall, at the expiration Of three yeal
fFaln the date Of les ance Of said bond
te provide means, By lsyying and colisetIn
I, a tax annually on the property Of sal
st town, for the purpose Of creating "a sin
l, ing fund to retire said bonds as rapid
as said sinking fund may be collected.
Es 9Th. The election herein describe
,, shall be opened and held by the Sher
st Of Hardeman county, in accoI dance vii
!, the provisions of the laws Of TENNESSEE
ane the voters who are 10 favor of Il
te subscription will put on their tickets Il
10 words For subscription, those oppo
AZ ed No subscription
l dec. 2-pf $50 10 4w