The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1881-03-16

payable eemi7annualIy, on the first
days of January and July of each
and every year, until the principal
shall have been paid, as evidenced
by the coupons hereto attached but
this bond may be redeemed by the
State at any time after the first day
of January, 1887, by paying the
principal and interest For the
prompt payment of the principal
and interest, the faith, honor and
credit of the State is solemnly
pledged. The coupons Of the bonds,
as they become due, are receivable
for all taxes and debts due the State
of Tennessee. This bond and cou-
pons are issued in pursuance Of and
under the act of the General Assem-.
bly, of the State of Tennessee, emit
tied "an act to compromise and set
tie the bonded Indebtedness of the
State Of Tennessee" Approved =
- day Of --, 1881.
In witness whereof, /, -- --,
Governor of the State Of Tennessee,
have hereunto signed my name of
ficially, and caused the same to be
countersigned by the Secretary Of
State, and the great seal of the State
to be affixed.
Done at the executive department
Of the State in the city Of Nashville,
this 1st day Of July, 1881.
Sec. 9. Be it further enacted, That
it shall be the duty of the Funding
Board Immediately upon the receipt
of the original bond or bonds and
the issuance of the compromise bond
or bonds, to cancel said original
| bond or bonds after being register
ed, the same as hereinbefore pro
vided, by cutting out the name of
the Governor, and Secretary Of State,
subscribed to each bond, and to de-
face the coupons by punching holes
in the same The Board shall sub
nit their books of registration and
cancellation to the Governor every
three months, or Oftener, who may
examine and compare the same
with the bonds issued under the
provisions of this act, and shall GER
tify the same to the Comptroller,
who shall embrace the same in his
report to the first General Assembly
that may convene after the passage
of the act. That this act take effect
from and after its passage, the pub
lie welfare requiring it.
In the Senate, on the 9th, the res
olution to appoint a joint committee
to ascertain of Gov. Marks how ma
ny bondholders signifed to him that
they would accept the 50-4 comprO-
mise, was rejected. The resolution
that it is the sense of this legislature
that there shall be no settlement OF
the State debt without the approval
Of the people at the ballot box, was
laid upon the table, ayes 10, nays s.
Senate bill, on third reading, to re
store the salaries of Judges of the
Chancery and Circuit Courts to 81,
800 passed, ayes ID, nays II; and
the bill to restore the salaries Of the
Supreme Court Judges passed, ayes
IS, nays s. ii the House, the Speak
| er announced that he had appointed
J. A. Broughton, cOIored, of Mem
phis, Journal Clerk. Mr.. Cole in
PRODUCED a bill to declare the mode
and manner Of valuing the property
of railroad companies for taxation.
House bill on third reading, to re
peal the act to lessen the number of
magistrates in quarterly courts, was
rejected; to provide for the organiza-
ton of corporations so as to allow
manufacturers Of Lazy material to
the articles manufactured, passed.
In the Senate, on the 18th, Mr..
Duggan introduced a bill to increase
the compensation Of Justices of the
Peace attending quarterly courts.
House bill, on third reading, to an
thorize the appointment Of as many
Notaries Public for each county as
the CQpnty Court may deem neces-
sary, was passed.