The weekly herald. [volume] (Cleveland, Tenn.) 1876-1888, 1879-04-10

cr's office. The bonds herein referred
to being known and designated Il,
follows:
Capitol bonds, 493, OO(
| Hermitage bonds, 35,O0t
| Agricultural bonds, 1900
Union Bank bonds. 125,03(
Bank Of Tennessee bond, 2l4,OOJ
Bonds issued to the various
Turnpike Co.'S, TAI ,OOC
Hiwassee railroad, 2S0,00l
T.. +. Y. & g. Railroad Co., l44,0OC
Memphis 4 LAGRANGE Railroad
Co., 5000
Ante-war railroads, S,5S3,00C
Postwar railroad bonds, 2,63S, OOC
Funded under Act 1866, 2,2l5, 600
Funded under Act 1868, $685. J0
Funded unucr Act 1915, 1857 900
See. ;. Be it further enacted, Ihat
| the proposition to settle the States in-
! debtedness, contained in this or any
other bill that shall pass, shall not be
1 submitted to the voters of the State,
nor the Legislature convened, until the
Governor shall communicate with the
| b]onJholders or their chairman, notify
ing them OF the action of the Lcgisia-
ture, and when he shall have obtained
the acceptance Of said proposition from
an equal number in amount as now
proposed to take sixty cents on the
dollar and six per cent. interest.
Sec. 3. Be it further enacted, That
the voters at said election being quail
fed voters of llIe State, shall vote di-
| recjly upon the provisions Of the first
onntf,,, 90 tl,fI Ant tl,.ea Hnttttpr fng'
the acceptance Of the same having
written or printed OF their ticket the
word 'Accepted," and those opposed
to the provisions of said section, hay-
ing written Or printed on their ticket
the word "Rcjectcd." And it shall be
the duty of the SherIifs 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 the State, who shall conf
pare said vote, and the Governor shall
decide the result when ascertained.
The Governor shall make proclamation
as to the result Of s4id election when
so ascertaiHed.
See. 4. BE it further enacted, That
if there shall be a majority Of votes
east as to said election in favor Of the
acceptance Of the provision of SAID sec
ton the Governor shall issue his proc
iamatiOn converting a special sessionof
he General Assembly for the purpose
Of enacting into a 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 completed and making such
provisions with reference to the bonds
rot funded within that time as such
General Assembly Shall enact.
See. 3. BE it further enacted, that
inasmuch as the railroad companies Of
this State propose to surrender and
give up their charter exemption from
Taxation and pay an annual tax Of 800,
900, by their written communication to
the Governor, therefore the railroad
companies Of this State shall together,
under and in pursuance of the proyia-
ions of this Act, and in order 70 carry
out the same annual pay into the State
Treasury, beginning with the year 1873,
the sum Of one hundred thousand dol
lars, the same to be due and payable as
other taxes are, the said to be pro rated
bHtN't'lA Etllb NOllbl J'liNp "NtNA Nili~ "
their present or any future assessed
valuation, but If at any time the assess
ed valuation of their property exceeds
an amount which at any time, under
the then regular state tax levy, will
yield a larger amount of revenue. than
500, 900, then said railroad companies
shall be taxed as all other property
may be, said sum Of 500 900, ana such
sum in excess thereof paid by said
railroad companies to be appropriated
to the public debt.
Passed March %, 1879.
j. j. NEAL,
Speaker OF the Senate.
II. =. FOwLKCs,
Speaker Of House ofKepresentatives.
Approved March 81, 1879.
ALBERT S. MARKS, Governor.
l., Charles n. Gibbs, Secretary Of
State of the State Of Tennessee, certify
that the above is Il correct copy OF AN
Act Of the General Assembly OF the
STATE OF Tennessee, the original of
which Is on file in my Office.
CuAs. n. GIBBS,
Secretary Of State.