The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1884-04-10

AN ACT to eaahlc the county OF Lincoln to Dor
row money to iAd new court house.
SECTION |. Re it enacted by the
Lcgis' ature uf tie State Of MisSiS-
sippi, That the Board Of Supervisors
of Lincoln county, for the purpose
uf building a new Court House, for
said county, ana to avoid the necessity of
imposing extraordinary taxes, speedily 20
be collected tltrefHr, shall have power .oI
borrow money not exceeding in amount
the sum of twelve thousand dollars (Si2,-
900, upon bonds, which 10y this act they
are hereby authorized tn make and issue,
AMI which shall constitute a good and
binding debt against said courty.
SEC. ,. b. il further enacted, That the
bonds To- IN. made and issued as aforesaid,
shall bear date of July |. lS-l, and shall
be in five series, designated as series one,
two, three, four, five, and each series shall
I've composed of twelve bonds Ofthe dpuOmi-
nation of one hundred dollars (SlOO) each,
and of six bonds of the denomination of
two hundred dollars (S2oO) each, and shall
be due and payable i'll one, two, three,
four and five years respectively, and bear
interes. from their date ut a rate not to en-
| ceed ten (l0) per cent. per annum, payable
semiannually-that is to say, OIL the first
of January and first of July of each year;
and to- each of said bonds shall be attach
ed coupon for interest due and payable
as aforesaid.
SEC. 3. Be il further enacted, That for
| the payment of said bonds and interest,
the said board of supervisors are required,
ut the time provided by law for the levy
of taxes, to levy from year to year,
special tax on the taxable property of said
county, sufficient to pay in full the princi-
pal and interest of said bonds as they shall
respectively become due, and said tax shall
| be III addition to and above the limit al
! lowed to be levied by the board of super
visors under the general law of this State.
and shall he collected ana paid into the
county treasury as other moneys are pro-
vided by law to be collected and paid into
the county treasury. The county treasur-
er shall keep n separate account of moneys
arising ont of said special tax, and shall
! pay ont the same only for interest and re-
demption of said bonds, as they shall re-
spectivey fall due. Provided, That if
"a greater sum of money is realized from
the sale of said bonds, as is hereinafter
provided for, than is necessary for the
building of said Court House, the surplus
remaining shall he transferred to the COM
mon school fund of said county, and be
used in the payment of school teachers
warrants that have been or may hereafter
schools in said county.
SEC. A. BE it further enacted, That as
soon as directed by said board of superyi-
sors, the county treasurer shall procure
bonds with coupons attached as hereinbe-
fore provided, printed in form approved
by the president of the board of supervi-
sors on good and suitable paper, and they
shall be signed by the president of the
board of supervisors, and cOunter-signed
by the county treasurer, and impressed
with the seal Of the Office of the clerk OF
the Chancery court of said county.
SEC. 5. BE it further enacted, That the
county treasurer shall have the custody OF
said bonds, and at such time as shall be
fixed by the board of supervisors, he shall
after notice i'll some newspaper published
in said county, open book for subscrip
ton for the purchase of said bonds ut OF
above par, which subscription shall b,
paid in cash, and thereupon, he shall de
liver the bond or bonds subscribed ant
paid for. He shall keep an accurate anC
full record of all of said bonds, showing
the number of series, date, number aud de
nomination of each, and when due, whel
and to whom sold and delivered
SEC. 6. Be it further enacted, That IL,
contract for the building of said cour
. house shall he concluded until one half o
the amount ofeach series of said bond
shall have been sold.
SEC. 7. BE it further enacted, That the
special tax herein provided to he collected
shall be paid III gold or silver coin, or il
the National currency Of the United States
provided nevertheless, that all coupons
falling due within the fiscal year in whicl
they become due, may be received for take
of that year.
SEC. <. BE it further enacted, That thi
act take effect and be in force from ant
= after its passage
Approved March 10, 1894.