The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1875-12-02
Legal Notice.

| Ii + LII cGLOTo Vi Tue hlEmDDIS q
| Knoxville Railroad company this day
| presented their petition 20 the Board of
! Mayor and Aldermen of the town of
| Bolivar, and it appearing that the said
| Memphis IL Knoxville railroad company
is a company Incorporated and organized
under the laws of Tennessee, and that
the entire line of the said road has been
! surveyed by competent engineer, and
| substan italy located by designating the
termini thereof--Memphis, Tennessee,
/ bsiDg 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 appli-
cation by their said petition to the Board
of Mayor and a l1ermen of the town Of
/ Bolivar for a subscription of $4,000 to
the capital stock of said company, In
| accordance with the provisions Of the
Code of Tennessee and Of the act of the
Assembly subsequent thereto, and filed
with their said application an estimate
of the grading, embankmeut and mason
rY, by a competent engineer, under DATA
as required by Law. lie is therefors or
dered by the Board of Mayor and Alder
men, that the Sheriff of Hardeman coun-
ty, after giving the notice required by
law, open ana hold an election at the
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
| scripIiOn. The terms of subscription to
be as follows, and upon the following
conditions:
LIST. The Mayor of Bolivar shall sub
Cnriha - 81
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 cOuntorsigned by the Kecor-
der, and bearing interest at the rate of s
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 Il livar twenty Years
after their respective dates, reserving rhe
right to the corporation of Bolivar to pay
the principal OF any Of said bonds at any
time before their maturity by giving six
months notice In some newspaper pub
hshed in Memphis, Tennessee, designat-
ing the bonds they may wish to pay.
u. The bonds issued in payment of
said subscription shall be, One-third of
the denomination OF one hundred dol
lars, and the balance of the denuminati q
of five hundred dollars, with coupons
attached, eVidencing the interest due
thereon or tina ist day Of January of
each year until maturity anu shall be
dated upon the day they are actually is
sued and paid out upon said subscrit
ton.
Sd. Certificates of ST ock in the can't
tai stock OF said railroad company, shall
be issued to the Mayor and Aldermen of
Bolivar Tennessee, by the proper ofic.
OF said company, for the full amount of
the face value Of the bonds issued and
iiVered to them, and at the time of such
delivery
4ih. The dividends upon the stock in
SAD railroad company belonging to the
Mayor and Aldermen of Bolivar shall
be used IN paying the interest upon said
bonds, and In paying the principal until
they are discharged. And the board of
Mayor AMI Aldermen shall have the
power to sell any or all OF said stock and
apply the proceeds to the payment of any
bonds hereby authorized, which NAV be
outstanding; provided, said stock shall !
rot be soII for less than its face value.
without the assent Of the legal voters o f
the town OF Bolivar, obtained as the law
directs.
5th. The proceeds of all the bonds
issued in payment Of said subscriuuuns
shall be used in the construction and
comp elton of said railroad in nardeman
county, east Of Bolivar.
9th. The bonds of the corporation Of
Bolivar, in payment of said subscription,
shall be issued only as fellows: Upon
the application of the President of said
railroad company, the bonds shall not be
issued until a written statement signed
by the President and Engineer of sand
railroad company, under oath, has been
filed with the Recorder, showing sufi-
Gent means IN their estimation, giving
facts and figures, have been secured 10
compile the work of grading SAID road
to henderson, and then IN monthly In
stalments to pay for the work as it is
done.
7th. For the purpose of paying the
ponds issued 10 discharge of said sub
scriptIOn, the Mayor ana Aldermen of
bohvar shall each and every year until
said bonds have all been paid, assess.
levy, and collect tax upon the taxable
property of said town, liable bv law 20
be taxed for corporation purposes, which
shall be sufficient, with the dividends ac-
eTuelDg upon the stock 10 said railroad
company to amount to a suli cheney to
pay the annual interest accrueing on -sa. d !
bonds, each year, and bonds as thew fail
due exclusive Of the cost and expenses
of cOliectiC q, which said SUN shall be
applied to the payment of the interest on
said bonds
And said board of Mayor and Alder
man of the aforesaid town of Bolivar
shall, at the expiration Of three years
from the date of issuance Of said bonds, |
provide means, by levying and collecting
tax annually on the property OF said
town, for the purpose of creating a sink
ing fund to retire said bonds as rapidly
as said sinking fund may be collected.
9Th. The election herein described
shall be opened and held By the Sheriff
OF Hardeman county, in accoI dance with |
the provisions of the laws Of Tennessee
ane the voters who are in favor OF tie |
subscription viii put on their tickets the
words For subscription, those oppOs- /
eo no subscription.
dec. 2-Ff $40 10 4w
BOLIVAR RTHLETEN-