Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1897-02-24
HOUSE BILL No. 264.

An Act to authorize the Board of Com.
m~lssioners of the Taxing District Of
the town OF Jonesboro, to Issue and no.
gotiate the interest bearing bonds Of
SAID Taxing District to the amount al
two thousand five hundred dollars, tc
pay an Indebtedness of said District
incurred in the establishment and
maintenance of public schools therein
n to levy a tax to pay the interest on
sad bonds as the same becomes dine
and to create a sinking fund to paw the
principal at OF before maturity and &c
authorize the submission ofsaid Act to
a popular vote of said District and for
other purposes.
SEoTIoN !. Be it enacted by the Gen.
eral Assembly of the State of Tennessee,
That the Board of Commissioners of the
Taxing District of the town of Jones.
boro, in Washington County, for the
purpose of paving a present existing
Indebtedness of said Taxing District in,
Cured in the establishment and main.
tenance OF public schools therein, be, and
they are hereby authorized to issue the
interest bearing negotiable coupon bonds
OF sald district, in the sum of two thou
SAND hye hundre dollars, payable on or
Defore twenty years from March |. 1897.
iiNSiNSb ~ llt Tult OF n Nor
cent. per annum. Said bonds shall he
signed by the President OF the Board of
commissioners, and countersigned nv
the Recorder Of said taxing district and
shall provide on their face for the nav.
ment OF interest at the rate aforesaid. fo
become que and payable semi-annually
on the first days of March and Septem-
Der, each and every veal thereafter. and
for the payment of the principal thereof,
ON or before the first day of March. 1917
al the option of the Commissioners of
SAID taxing district. Said Commission.
ers may negotiate said bonds, but the
same shall not be disposed of for less
than their par vale, and the proceeds
arising therefrom shall be applied to the
payment of said Indebtedness and the
expenses incident to the preparation of
said bonds, their negotiation and the
carrying out Of the provisions of this
Act and no other.
sec. < BE 1T further enacted, That the
Board of Commissioners of said town. be
and they are hereby authorized and en-
powered to levy, and annually after the
issuance of said bonds, and while said
bonds or any of them are outstanding. n
special tax on all the taxable property.
and a special privilege or license tax on
al taxable privileges under the laws of
the state, within said Taxing District,
put IN neither case to exceed the tax
levied on said property and privileges
by the State, for the purpose of paving
the interest on said bonds as il becomes
due, and to provide a sinking fund to
pay the principal at maturity, provided,
Ihat before this Act shall be operative,
the same shall be submitted to a vote of
the citizens of said municipality, and if
ratlfed or voted for, by three fourths of
the qualified voters of same, then and
then only, shall said Board issue said
bonds. And the Sheriff of the countv or
any Justice of the Peace living in said
town shall open and hold the same by
giving ten days notice and the question
submitted shall he "for the bonds.r and
against the bonds" and the return shall
be filed in the office of the County Court
Clerk. ~
Sec. 8. Be it further enacted, That this
act take effect from and after its pas.
sage, the public welfare requiring it,
Jos. w. BYRNs,
speaker pro tenn House Representatives.
JOHN THOMPSON,
Speaker of the Senate,
Passed February s, 1897.
Approved February II, 1897.
ROBERT l.. TAYLOR,
Governor.
WIN. S. MORGAN.
Secretary of State.