The commercial. (Union City, Tenn.) 190?-193?, 1903-05-29
TPuBLIsHED BY AUTHORITY.
ROAD BOND BILL.

611.+1
a BilPto be entitled an Act to author
ize the County Court of Obion Coun
ty, Tennessee, to issue and sell bond
upon the affirmation vote of th
people of said county for the purpos
of improving the public roads ant
@sbridges of said county; and for elect
ing highway commissioners to carr.
this Act into effect, and fixing thei
duties, and for other purposes.
Section 1. Be it enacted by the
General Assembly of the State o.
Tennessee, that the County Court
of Obion County, Tennessee, be
and it is hereby authorized and EN-
powered to issue negotiable interest
bearing coupon bonds of said coun'
ty in blocks Of not more than TWEEN
ty-five thousand dollars, from time
to time as may be necessary to dc
the work contemplated by this Act,
the whole amount of said bonds
not, however, to exceed one hundred
thousand dollars, the proceeds of
which shall be used exclusively for
the purpose of locating, grading,
bedding, draining and macadamiz-
ing such of the public roads in said
county as may be designated and
declared by the county court of
said county as public highways,
and for building, repairing and inn
proving the bridges in said county
as herein provided for, which bonds
shall be signed by the county judge
and countersigned by the county
court clerk of said county with the
seal of the county court affixed
thereto.
Sec. 2. Be it further enacted,
that said bonds may be issued in
such denomination as the county
court of said county shall by order
fix, and shall be payable at such
times, from five to thirty years, as the
said county court shall by order de-
clare, and which shall bear interest
at such rate as may be fixed by or
der of said county court, not, how
ever, to'exceed five per cent per an
mum, payable semiannually at such
place as may he determined upon
by the said county court and evil
denced by coupons attached to said
bonds, but said bonds shall not be
sold or otherwise disposed of for
less than their face value, and no
commission shall be allowed for
the sale of same. The orders here
in provided for are to be made by
the said county court at quarter
1y term and shall be entered of rec
ord in the minutes of said court.
Sec. 3. Be it further enacted,
that before said bonds shall be is
sued, an election shall be held at
some suitable time in the several
voting precincts of said county,
notice of which shall be duly pub
1ished as now provided for by law,
in cases of other county elections,
giving the time and purposes of
said election, and on the day so
published, within lawful hours, and
at the several precincts and voting
places in said county, the sheriff of
said county shall open and hold an
election to ascertain the will of the
people OF said county as to the is
suance of said bonds. and due re-
turn of said election shall be made
and the result declared as in cases
of other county elections. All per-
sons eligible and qualified to vote
for county officers on the day of the
eleet1on shall be eligible to vote IN
said election, and all those who
favor the issuance of bonds shall
have printed on their ballots, the
words ''Fox Bonds, and all those
who are opposed to the issuance of
said bonds shall have printed on
their ballots the words against
Bonds, and if a majority OF all the
votes cast in said election shall be
.'For Bonds" the result shall be
declared in favor of issuing said
bonds; but if a majority of all the
votes cast shall be against Bonds,