The comet. (Johnson City, Tenn.) 1884-1916, 1907-05-23

OF special levy upon or
against the lots or parcels
of land abutting on said improvement
district constitute a sinking fund for
the payment of such bonds, and such
other matters as the legislative body
of said city or town may deem essen
tial to protect the interest of the said
city or town, and the purchasers of
said improvement district bonds.
Sec. %. Be it further enacted, That
the proceeds of any and all improve
ment district bonds of any improve
ment district for the improvement of
any street, highway, avenue, or alley
provided for in this Act shall be exclu
sively applied to and used for no other
purpose than the payment of the cost
and expenses of the improvement upon
and to the particular street. highway,
avenue, or alley where said improve
ments were made, for the payment OF
which said bonds were issued; and that
the money realized from the special
levy or assessment upon and against
the lot or parcel of land on any such
street, highway, avenue or alley or
part thereof constituting the improve
ment district where said improvements
are made shall be applied" solely to,
and used solely for, the payment Of
costs and expenses of the improve
ments made upon the particular street,
highway, avenue or alley or part there
of constituting the improvement dis
trict on which said lots or parcels of
land abut, or to the payment of said
Improvement district bonds for said
Improvement district issued to pay for
so much of said improvements as may
be charged to said abutting lots or par
cells of land; Provided, that in each
year when the bonds and interest ma.
turing that year against a particular
district haze been paid, if there shall
remain to the credit of that district any
sum accruing by reason of the bonds
having been sold at a premium, or q
interest paid on sums on deposit, OF
assessment paid before maturity, or in
terest paid on installments paid after
maturity, the same shall be left on de
posit at interest or be put in a certifi
cate of deposit, and whatever sum may
be accumulated in this way shall b.
used to satisfy or decrease pro rata th,
installments of assessm ents falling du
last, the intention of this Act heinl
that the assessments, with interest ant
premiums on the bonds, if any, shal
exactly discharge the bonds based ol
them.
All of said improvement distric
bonds SO issued shall be duly execute
consecutively numbered, attested, an
registered by the Recorder or Clerk 0
Register of the legislative body of sal
city or town and delivered to the treas
urer cf said city or town and his n
ceipt be taken therefor. Said TreaI
urer shall be charged Herewith {
their par value, and shall be liable fl
Z the full amount of the bonds 50 deli
> cred to him and the proceeds thereo
i The said bonds shall not be sold at lei
y than their par value, with accrued il
u terest, and it shall be the duty of IL
City Treasurer and Finance Oommi
tee of the legislative body to sell sa
u bonds, and the said Treasurer shg
= keep record of all bonds sold /
g number, date of sale, date of maturit
y with name and postoffice address of L
y purchaser.
le Sec. %. Be it further enacted, Th
y whenever any city or town within t
III provisions of this Act has incurred t
$, cost and expense authorized by Il
III Act by the creation of an improveme
ce Chamberlain's Collie, ChaleFa and Diarrh
ha Remedy
70 There is probably no medicine ma
that is relied upon with more impli
eh confidence than Cbamberlain's Col
'er Cholera and Dlarrnoea Remedy. ID
is lug the third of a century in wblrl
"a. has been iu use people have lei |
:. that it is the one remedy that e
~ fails. When reduced with water q
M sweetened it is pleasant to take.
n n AT.IIo-