Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-01-05
ACTS OF THE LEGIsLATUrE.
[Pn5liShed By Authorityl
SMITH BILL, NO. 3.

approve ed March 3stl, 1879 and chapter
80 of acts 1881, approved April 4th, 1881.
Whereas, Many counties in the State now
owe Indebtedness, evidenced by judgments
and decrees and other Indebtedness due by
said counties are being daily put into iudg-
menta and, whereas, mucl. if not all of
said Indebtedness can be settled by and be-
tween said counties aud their creditors, up
on terms satisfactory to both; and, where
as, no satisfactory authority exists for such
settlements as may be agreed upon there
for:
Section /. Be it enacted by the General
Assembly of the State of Tennessee, That the
several counties of this State are hereby
authorized, acting by and through their
+ county courts, ut regular quarterly terms, to
settle er compromise any claim against
them or either Of them, evidenced by iudg-
ment or decree, upon such terms as may be
agreed upon, and TO issue new Judgment
certificates in negotiable form, bearing in
terest at q rate not exceeding six per cent.
per annum, and may regulate the maturity
and interest of such judgment certificates as
to them seem best and as may be mutually
agreed upon between them and said iudg-
ment creditors. Such certificate shall state
the judgment or decree upon which, issued
aud recite the terms and conditions
OF the compromise thereof, they may be
for such sums ana IN such denominations
not in an aggregate exceeding the amount
! Of the Judgment or decree with interest
upon which issued as may be agreed upon
shall be payable to the plaintiff in the
judgment or decree and upon his OF their
endorsement, may pass by delivery as COM
/ mercial paper, such assignment, also having
the effect of transferring so much of the
! judgment or decree upon which the as
/ signed certificate was inserted under such
compromise, and such certificates shall be
subject TO all the conditions of the compro-
mise on which issued upon the issuance of
/ such certificate OR certificates. A full
memorandum, thereof, shall be filed and en-
/ tered on record in the court where rem
dered and thereafter assignment of such
/ be made by Or through the transfer Ct such
/ certificates, or any one of them, the assent
of the creditor to this provision, shall be
/ evidenced by his or their acceptance OF such
/ certificates.
/ Sec 2. Be it further enacted, That the
several counties compromising judgments
! or DEGREES AGAINST them, under this act, are
hereby required 10 levy special annual tax,
sufficient ia amount to meet the payment of
interest and principal on said judgments
/ and decree, as adjusted and compromised as
it natures, and the evidence of interest
whatever be the form adopted, shall be re-
ceiyeable III payment of ali taxes and dues
to the respective counties, except the sink
ing fund tax, hereinafter provided.
Sec. 3. Be it further enacted, That the
several counties settling or compromising
their indebtedness under this act are here
by authorized aud required to create sink
ing fund sufficient for the payment of the
principal of the adjusted debt, as the same
. mat Nv law o,,I 1oIIaatiCT. of
uUal tax for that specific purpose, to be
known and designated as q. : sinking fund
tax Such annual sinking fund tax shall be
Of such an amount as that the same, with
its acCret0ns, VIII be sufficient to pay off
the principal of the debt as adjusted upon
its maturity. The power to settle or COM
promise under this act is conditional upon
the agreement of the said counties to COM
ply with the requirements of this section as
TO q sinking fund tax. and Of section 2 as to
interest tax, of which agreement the settling
or compromising its Indebtedness under this
act shall be sufficient evidence. All evil
dences of Indebtedness issued under the au-
thoritv Of this act shall recite that they are
issued under this act
Sec 4. Be it further enacted, That the
sinking fund herein provided for, shall be
held invested, paid Out, accounted for, and
secured as provided in sections and 6 of
chapter 80, of acts of 1881, approved April
4, 1881, with like bonds required Of county
trustees, and like compensation to them as
provided therein:
Sec 5. Be it further enacted, That al
acts and laws, and especially chapter 7 of
acts Of 1879, approved January 20, 1879;
chapter 207 OF acts of 1879 approved
March 81, 1879; and chapter
50 Of acts of 1881, approved
April 4th, 1881, in so far as they conflict
with or are repugnant to the provisions of
this act be and the same are hereby repealed
Sec. 6. Be it further enacted, That this
act take effect from and after its passage
the public welfare requiring it.
Passed December 18TH 1881.
GEORGE H. MORGAN,
Speaker of the Senate.
H. B. RAMSEY,
Speakers of the House of Representatives.
Approved Dec 21st, 1881.
ALVIN HAWKINS, Governor.
STATE OF TENNESSEE,
OFFICE OF THE SECRETARY OF STATE,
NASHVILLE, December 2lst 1881.
7, D. A. Num-, Secretary of State of the
State Of Tennessee, do hereby certify that
the above and foregoing is true and perfect
copy Of an act of the General Assembly of
the Slate of Tennessee, passed at the extra
session of 1881.
d. A. NUM-, Secretary of State.
AN ACI to almond an act passed April I'd,
1881, entitled an act to change the time
of holding the courts in the eleventh iu
diciai circuit, and to regulate the issuing
and returning eff process and the taking
of bonds and recognizances:
SgcEIoS l. Be it enacted by the General
Assembly OF the State of Tennessee, That an
act, passed April Sd, 1881, and approved
Aprilt 9TH, 1891, entitled an act to change the
time of holding the courts in the l1th ju-
Gicial circuit, etc, be so amended as to read
as follows That from and after the passage
Of this act the Circuit Courts in the it'll ju-
dicial circuit shall be held at the following
times and places, to witt
Purdy, AicNairy County, the first Tuesday
after the first Monday in January, May and
September;
Savannah, Hardin County, on the third
Monday in January, May and September;
Waynesboro, Wayne County, on the first
Monday in February, June and October;
Eewburg. Lewis County, on the second
Monday Of February, June and October;
Centerville Hickman County, on the third
Monday in Fe bruary, June and October;
Lincoln, Perry County, on the fourth
Monday II February, June and October;
Decaturvile, Decatur County, on the first
Monday III March, July and November;
Lexington, Henderson County, on the
second Monday Of March, July and Noyem-
Der;
And that all processes now issued, or that
may be issued hereafter, shall be returned
in the respective counties at the time and
places herein prescribed for holding the
courts in said counties, and that all bonds
taken ana recognizgnees entered into after
the passage of this act to appear at said
courts, shall be for the appearance of the
parties at the times and places stated in this
az in each county respectively.
DC. 2. Be it further enacted, That all
acts IA conflict with this act be and the same
are hereby repealed.
Sec 3, Be it further enacted, That this