Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-05-13


one every year thereafter, to whom thu
sinking fund tax shall be paid as collected
for the purpose of enabling said commits
sioners to purchase said bonds at or befor
maturity. The President or other chic
officer of the taxing district or its successo
shall be ex-ofhcio a member of the board o
Sinking Fund Commissioners; the Presiden
or presiding officer and the Sinking FunC
Commissioners shall give bond and securit,
for the faithful administration of theic trus
in such amounts as the corporate authorize
may require. The President or other pre-
siding officer shall receive an amount no
exceeding one thousand dollars for service
in funding and issuance of the bonds pro
vided under this act. The sinking funC
tax herein provided not to commence u ii
January LIST, 1885, but the tax to be Levied
to pay said bonds and interest on the terri
tory embraced in the Ninth and Tenth wards
of said Taxing District as said wards ex
listed when added to the original eight wards
shall not exceed one-ffth of said tax levied
ON the original eight wards.
SEQ. 7. Be it further enacted, That sec
ton of the act of tennessee 1881 chapter
1913 be and the same is hereby repealed, anc
section of said act be amended by omit
ting or striking out the word ''liquidating'
| in the third line of said section.
SEC. 3. Be it further enacted, That sale
acts Of 1881 chapter 123 be SO amended as
to require said Board of Sinking Fund
Commissioners to elect one of their mem.
bers secretary of said Board of Sinking
Fund Commissioners
SEC. 8. Be it further enacted, That sec
ton 6 of said acts of Tennessee 1881, chap
| ter 1873 be amended SO as to omit and strike
| out from the 9th line of said section the
word ''liquidatin," and be further amended
| by emitting all Of said section after the
word board" in the 18th line of said Sec
ton.
SEC 10. Be it further enacted, That act
| OF 1881, chapter 1913, be amended as fol-
lows, that Ill consideration of the surrender
| on the part of the creditor, of portion OF
| the debt owing to hun from said corpora.
ton, it is expressly declared that the cou.
pons attached to the bonds issued undei
| this act, as well as the bonds her tofore is
| sued under the acts of March 8, 1917, and
| approved March IA, 1917, entitled
an act to entite municipal corporations
| to settle their Indebtedness beng
chapter ten of said act, maturing subsequenl
to july LIST, 1852; and also the bonds, II not
paid at maturity, shall be receivable at par
by this Taxing District, or its successor, by
dues, taxes and assessments levied, imposed
or assessed on all real or personal estate, Oh
i'll payment of any privilege licenses, tax, OF
Ill pay ment or any debt or demand due 10
said Taxing District, or It's successor II
being the intent of this Act that any over
due or unpaid bonds or coupons, afore-
said, shall always at par, whatsoever, by
whomsoever, on what account soayer ten
dered i'll satisfaction of all dues, taxes,
charges, rates or assessments lowed or III.
| posed, and by whonsoever collected, re.
| celved or levied on persons, privileges OF
| property or III satisfaction OF any other
debt or demand due and owing to said cor
| poratlon or lis successor.
| SEC. IL. Be 1t further enacted, That sale
| act of Tennessee, 1881, chapter l2j, be
further amended as follows: That 1t Shat
| be the duty of the President or other che
officers of the Taxing DlstIct or It's success
or, at least thirty days proceeding the meet
| ing of the last Legislature, to report to tina
body the late of taxation necessary for rals-
ing the amount of revenue provided In tin
| act.
SEC r. Be it further enacted, That the
acts of 1851, chapter 1913, be amended d
follows: That the Taxing District or it
successor is hereby authorized to fund tn
coupons and bonds rec gnIzed by this &C
and issued under the act of 1877, chapter II
aforesaid, falling due prior to July 1852, a
their face value and interest since maturity
said bonds to be conditioned as the bond
heretofore authoriz to be issued undo
this act with like liens, rights and remedie
to the owner or hol er as Is heretofore pro
vided for the enforcement of the bond
issued under those heretofore authorized b.
this act.
SEC. 13. Be it further enacted, That sec
ton IL of this act of 1879, chapter /
passed January 20, 1879, and approves
January 81, 1879, only SO far as the same
in conflict with this act be and the same
hereby repealed, and no further, and it
only intended by this act to confer upon tn
Taxing District he power to issue bonds t
this extent conferred in this act and Ii
further
SEC IA Be it further enacted, That sec
tons and 10 of the act of 1851, chapte
1913, be and the same are hereby repealed
aud section 3 of said act be repealed, aud TIA
folio " ing substituted for section g. that Tia
bonds aud coupons issued under tuis az
snail be substantially III thefouowng form
United States of America: Stale OF Zen
nessee, bond issued for funding and con
promising the debt of the No
s.; Know all men by these presents thf
the -- acknowledges itself indebted al
firmly bound to - or bearer III the SUI
of s. in lawful money of the Unite
States, which sum the --- promised an
obbgates Itself to pay to bearer on the =
day of -- at the - with interest froI
the - day of -, at the rate of = pc
, cent. per annum, which interest shall
payable semi annually on the presentatio
and delivery of the attached coupons at til
, -. This bond is issued under aud j
, conformity with an order and resolution
, the --- III the State of Tennessee al
, under the authority of tue Constitution
, the State of Tennessee and in accordan(
with the laws of Tennessee and au act
! tn Legislature of Tennessee passed - ds
= of -, 1882. entitled an act to amend an a.
/; of the Legislature of Tennessee, acts 1873
chapter l23 passed April 9th. 1851, entltIe
an act to provide for the settlement of Il
Indebtedness of the extinct municipality
4 the city OF Memphis and the bonds al
4 coupons hereto attached shall after maturi
/ be receivable at par by said corporation
n Its successor, in payment of all taxes al
n other dues due and owing to said muniC
q palIty or its successors and the faith al
|. credit of the corporation is truly pledged
O the prompt payment of this bond and co
s. pons attached.
COUPONS.
: State of Tennessee s.
), is indebted and promises to pay
j. * day of - at the - being for
j. months interest on bond No. -, whi
II coupon is, when due, receivable for all du
L., ,,.l f<,h no Law aI for f.f