Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-05-02

10 of the act of ISL chapter rs. be and the same
are hereby repealed. and section 5 of said act be
5: That the bonds and coupons issued under this
act shall be substantially in the following form:
Bond Issued for funding and com promising the
indebted and firmly bound to or bearer in
me sum Of la, lawful money Of the United
gates itself to pay TO bearer on the - day OF
=, at the -, with interest IRON the -
mum, which intereSI shall be payable semi-annu-
ally on the presents tion and delivery of the at
taehed coupons az the TINS IN bond Is issued
an order and resolution of the -, in the State
Of Tennessee; and under the authority Of the con
stitution of the State OF Tennessee and in accord
ance with the laws of Tennessee and an of the
-, 1882, entitled an act 10 amend an act of the
Legislature of Tennessee, Acts 1851. chapter 12S,
passed April 6, lSSi entitled act 10 provide for
municipality of the city of Memphis, and the
bonds and coupons hereto attached shall, after
or its successor in payment of all taxes and other
dues due and owing 70 said municipality or It's
successor and the faith and credit of the corpora
ton is hereby pledged to the prompt payment OF
this bond and coupons attached.
COUPONS.
-. State of Tennessee is indebted and
promises to pay to bearer the sum of = on the
months interest on bond No. -, which coupon
is, when due, receivable for all dues and taxes
levied or to be levied for this corporation.
See Is Be further endcted hat all acts or parts
IBIS sG aet sTe heEe6E repeaied are III WIN
Sec 16. Be Il further enacted That no bonds be is
sued under this act unless the Legislative Council
OF the Taxing District of Shelby county shall, by
ordinance duly passed, authorize the same, and
the commissioners appointed under the act of ISL
chapter l23. Legislature of Tennessee, shall collect
the revenue provided under said act of 1881 until
the Legislative Council of the Taxing District shall
by ordinance authorize the issuance of the bonds
herein provided. at which time the commissioners
appointed under the of 1881 shall cease t. exist
and pay over to the Legislative Council of the Tax
ing District all moneys collected hereunder for
purposes designated under this act; and in the
event the settlement OF said Indebtedness as in this
act provided for Is not accepted and ratified by
said Legislative Council, then the duties of said
commissioners set forth in the act of 1881 chap
ter 123 shall continue and in addition to the du-
ties and powers of said commissioners in said act
forth they shall he further authorized with the
the Indebtedness OF the extinct municipality of
Memphis at any rate not exceeding the rate at
which said act authorizes them TO issue bonds and
by ordinance to accept and ratify this settlement
and to order the bonds issued in pursuance of this
act, and II shall be the duty OF said Legislative
Council to take action this proposition of settle
ment within forty days from the passage of this
act.
not take effect until the acceptance and ratihca-
ton of the settlement herein provided for by the
Legislative Council of the Taxing District of
Shelby county, and shall take effect ten days after
sach acceptance and ratification made in the
manner herein provided for, the public welfare
requiring it.
Speaker of the House of REPRESENTATIVES
GEO. Fl. MORGAN,
Speaker OF the Senate.
Approved April q, 1852
ALVIN HAWKINS, Governor.
!, ID. A. Num-, Secretary of State of Tennessee,
do certify that the above is true copy OF an act of
the General Assembly OF the state OF Tennessee,
passed at the extraordinary session of 1882
D. A. MUM, Secretary of State.