The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1879-04-09
known and designated as follows:

bonds herein referred to belnS
known and designated as follows:
Capitol bonds. ............. 493, w
Hermitage bonds. ......... %, wv
Agricultural bonds.... -. Il, w,
Union Bank Bonds. 120, w,
Bank Tennessee Bonds. 2l4,UV'
Bonds issued to the various 90,
Turnpike companies. 141, OOC
HIwassee Railroad. .. $50, OOt
East Tenn. and Georgia RR. IA. 00t
Memphis and Lagrange RR. 6o, w
Ante war railroad bonds. S,0o5, wv
Post war railroad bonds,.... 1855, wv
Funded under Act of 1866. 2,246, wv
Funded under Act of 1862. DOG, W.
Funded under Act 1873. 4,o6I,UOO
Sec. 2, Be it further enacted, that
the proposition to settle the State
Indebtedness, contained in this or
any other bill that shall pass, shall
not be submitted to the voters ofthe
State, nor the Legislature convened
until the Governor shall communi-
cate with the bondholders or their
chairman, notifying them of the &C
ton of the Legislature and when he
shall obtain the acceptance Of said
proposition from an equal number in
amount as now proposed to take
sixty cents in the dollar and six per
cent interest.
Sec. 3. Be it further enacted, that
the voters at said election being
qualified voters of the State, shall
vote directly upon the provisions of
the first section of this act, those
voting for the acceptance of the
same having written or printed on
their ticket the word Accepted"
and those opposed to the provisions
of said section. having written or
printed on their ticket the word
Rejected" And it shall be the du-
ty of the Sheriffs of the various
counties of this State to compare the
votes cast in said election, and make
return thereof to the Governor and
Secretary of State, who shall COM
pare said vote, and the Governor
shall decide the result when ascer-
tanned. The Governor shall make
proclamation as to the result of said
election when so ascertained.
Sec. 4. Be it further enacted. that
if there shall be a majority of votes
cast as to said election in favor
of the acceptance of the provision of
said section the Governor shall issue
his proclamation converting q special
session of the General Assembly for
the purpose Of enaoting into law
and providing for the enactment of
the provisions Of the first section of
this act. limiting the time within
which said funding shall be complete
and makeing such provisions with
reference to the bonds not funded
within that time as such General
Assembly shall enact.
Sec. 5. Be it further Enacted, that in
.smuch as the railroad companies
# this State propose to surrender
nd give up their charter exemption !
rom taxation and pay an annual tax /
f $1,000, 900, by their written COM !
to the Governor, Therefore 9
be railroad companies of this State \
hall together, under and in persu n
nee of the provision of this act,and
order to carry out the same, annu-
Ily pay into the State Treasury, s.
eginning with the year 1879. the g
lm of one hundresd thousand dol n
RS, the same to be due and paya- I.
e as other taxes are the said sum A
be protrated between said COM
anies according to their present or :,
Nv future assessed valuation, but if >,
any time the assessed valuation,
their property exceeds an amount ne
lich at any time, under the then hi
gular State tax levy, will yield a ar
ger amount of revenue than 500, kr
0, then said railroad companies la
all be taxed as all other property br i
" be, said sum of 100000 and Lii
III sum in excess thereof paid by aft aft
d railroad companies to be ap- sto
,priated to the public debt. NJ
Passed March %. 1879.
j. r.. NEAL,
Speaker of the Senate. n
81. p. FowLKEs,
,aker of House Of Representatives.
March 81, 1879.
ALBERT S. MARKS, Governor. We,
Charles N. Gibbs, Secretary of N
10 OF the State of Tennessee,