The commercial. (Union City, Tenn.) 190?-193?, 1914-03-20
School Board Ordinance.

u, n. cbofes n II. narpcFs 2. n
l:iekey. d. H Woody, +. E. Shore anC
81 E. Shropshire, Aldermen, being al
said board and quorum.
7 II. Shore introduced and moved
10 passage OF the following ordinance,
le-wit:
Al ordinance providing for the issu-
fnce Oslo, 10000 or coupon bonds, for
the purpose Of constructing, building,
kbrnishing and equipping a public
laool building in and for the town Of
lives, 10 accordance with an act Of the
General Assembly passed on September
IS, 1918. being chapter So Of said acts;
md providing for an election to be held
~ the election commissioners OF Obion
County, ii the town Of Rives, as TO the
ISSUANCE OF said bonds; and provided a
majority Of the vote cast at said election
shall favor the issuance Of said bonds.
SECTION L. Be it ordained by the
Mayor and Aldermen Of Rives consti-
.utlns the town council, That an cleo
li0n shall be called and held in the town
81 Rives, at the usual voting place, on
the 18th day Of April, 1914, all Of the
qualified voters OF said town, to ascer-
lain the will OF said voters voting, as to
Tia issuance of SIC. 600. 90 school bonds
" the town OF Riyes for the purpose OF
constructing, building, furnishing and
fhuipping public school building 10
ana for said town Of Rives, which cleo
tlon shall be called, advertised and held
the Election Commissioners Of Obion
|ounty, and the result thereof duly as
ebftained and certified and filed by said
Election Commissioners as the law re-
{|uires.
The ballots to be used in said election
shall have printed on them the words,
For Bonds" and Against Bond"
ssid each ballot cast in said election
having a (X) opposite the words For
Bonds shall be deemed avote in favor
81 The issuance OF said bonds, and each
ballot cast 10 said election having such
nfoss opposite the words Against
RDuda' shall be deemed vote against
aid bonds; provided that il majority
u DE votes cast at said election shall be
ID favor Of the issuance OF said bonds,
The same shall be prepared, signed and
issued, as provided in the next section
I|sfsof
SIC q Be il further ordained, That
llie said bonds to be issued under this
ordinance, and in pursuance Of said Act
81 the General Assembly, shall be Of
liz denomination Of $4,000, bearing
Interest at per cent (six per cent per
anuum. payable semi-annually, and
evidenced by the coupons for the same
duly attached to each Of said bonds;
said bonds to be made payable thirty
years after date, but providing that they
10 paid after ten years, at the election
II the Mayor and Aldermen OF Riyes,
ed 1T the Chase National Bank, New
York, and IN lawful money.
The said bonds shall be in the amount
a. 80, 10000 par value, divided into
twenty (20) bonds, each Of par value Of
$500. 90, With said interest coupons at
tached, and they shall be signed by the
Mayor and Recorder Of said town, With
NJ corporate seal affixed thereto; the
said coupons shall be signed by the
said Mayor and Recorder, or their
names may be lithograped thereon.
Said bonds may be issued and sold
hy the Board u Mayor and Aldermen
liz Rives, at such times and in such
amounts as they may determine by or
FINANCE, but not exceeding the total
amount OF SIC, 900. 90. and not to be
soId for less than par with the accrued
interest thereon; and the proceeds Of
said bonds shall be used exclusively for
lie purpose herein set out. But the
said bonds shall not be issued or sold
RlnIess voted for and approved by a ma
iority OF the votes cast at said election
4erein provided for. Il
4 SIC. 5. Be il further ordained, That
4 said bonds shall be so voted for and
approved as herein provided for, the
Mayor and Aldermen Of Rives shall
each year thereafter levy a special tax
on ali the taxable property Of said town.
10 provide sinking fund to pay the
same, and the interest thereon, not ex-
ceeding fifty cents on each one hundred
dollars Oi taxable property, AZ evidenced
hy tbs tax lists OF said town, and as pro-
yiaed for in said Act Of 1918, chapter 65. I
The said foregoing ordinance, after
a. IL 1919