Sequachee Valley news. (Sequachee [Sequatchie], Tenn.) 1896-1952, 1915-05-13
BONDBILL
TEXT OF MEASURE AS IN
PRODUCED IN LEGIS-
LATURE

lie ROADS or said County, the DuiIdlnl
Of bridges where necessary, the sale o
said bonds, the building of certain
specific roads, the appointment of Pix
Commissioners, and to fix their dutie
and salary; to provide for the expend
iture Of the funds, ana to provide TO
the levying Of tax to pay the inter
est and the principal of the bonds.
Sec. I. Be il enacted by the GeneF
al Assembly Of the State of Tennes
see, That the County Court of Marion
County, by majority vote, is hereby
authorized and empowered to issue In
terest BEARING coupon bonds of sale
County in an amount not to exceed
One Hundred Thousand Dollars $500,
600 00), for the purpose of locating,
constructing and building macadamiE
ed or pike roads. and improving Other
public roads of said County, and tc
build bridges where necessary.
Sec. g. Be it further enacted, That
the said County Court is permanently
authorized and empowered to issue
said bonds in such amounts as 1t may
from time to time determine, and
that the said bonds shall be issued In
denominations of from One Hundred
Dollars $500. COY to One Thousand
Dollars ($1, 900. COY, as the said Court
may determine, and the said bonds
shall not be sold for less than par.
Sec. 8. Be it further enacted, That
the said bonds shall be signed by the
Judge or Chairman of the County
Court of said County and countersign-
ed by the Clerk of the County Court
Of said County, with his official seal
affixed to the same, and they shall be
numbered in the order of issuance,
beginning with one ~.
Sec. Be it further enacted, That
said bonds shall bear such rate Of in
terest, not to exceed FIVE (5) per GEN.
tum per annum, and mature and be-
come due and payable at such time or
times, from five (5) to thirty 1907
years after their date, as the County
Court Of said County may fix and de-
and the Commissioners herein
after provided for, shall advertise and
offer for sale and sell to the highest
bidder for cash, said Commissioners
retaining the right in said advertise
ment to reject any and all bids, If in
their discretion. they deem said bids
unsatisfactory; and said moneys re-
ceived on the sale Of said bonds shall
be paid directly to the County Trustee
Or his agent by the purchaser of the
said bonds, and said County Trustee
shall receive as his compensation for
receiving, being responsible
'or, and dispensing said moneys, one
'ourth ~ of one ~ per cent. Of all
thus coming into his hands as
The same Is dispensed.
Sec. g. Be it further enacted, That
he interest of said bonds shall be pay
Ibls semi-annually, and at such times
Is the County Court may determine,
ind that each Of said bonds shall have
ttached to it the coupon for the semi
nnual interest for each of the years
he said bonds are to run, showing the |
mount Of each semi annual install
nent of interest on said bonds, and |
vhen the same shall fall due, and |
which coupons shall be signed In the |
anne manner as the bonds, except the |
ficial seal Of the Clerk Of said Court
eed not be affixed to said coupons,
be said coupons, however, to show on
heir face the number and amount of
he bonds to which they are attached.
he bonds and coupons herein provid.
d for, when due and paid off by the
rustee of County Tax Collector,
1all be cancelled by him by stamping
+ writing on the face thereof, the
ate received and paid, and the same
iall be held by him as his voucher
Or the payment in his settlement
itn the Judge or Chairman of the
ounty Court, who will preserve said
onds and coupons as part of the re-
,Yd of his office.
Sec. 6. Be it further enacted, That
10 proceeds arising from the sale of
i'd bonds shall be used and expended
locating. grading, bedding, build
q, matchmaking and improving the
flowing roads.
Road No. 1: Beginning Mt the
lint where the Battle Greek road in
rsects with the road leading from
Isper to South Pittsburg, near the
,unty Bridge across Battle Creek,
ID running up Battle Creek by way
Pinhook to Monteagle, Tenn, upon
hich road there shall be expended
CD amounts as the Board OF Pike
may from time to time
signate, not to exceed in all, Thirty
Q Thousand Dollars. 1885, 900. 00).
Road No. Q. Beginning at point .
the West Valley road, south of and
ar Whitwell. tie location of which
int shall be determined by the
ard Of Pike Commissioners, and
ming across the said Valley east
IDLY so as to cross the new iron
idge recently built across the Big
quachee River near Whitwell, by
" of Ketner's Gap, to the County
ne between Marion and Hamilton 6
unties on Walden's Ridge, upon
Itch road there shall be used and ex-
nded such amounts as shall from Q
ne to time be determined by the t
ard Of Commissioners, not to exceed
all, Twenty five Thousand Dollars .
IS, 600. 00).
Road No. 3. Beginning at the point )
ERE Road No. as above described, I
;ersects with the West Valley road
" Whitwell. and running down the Q
LEY, by way Of Jasper, to the point \
ere Road No. 7 intersects with the
ID leading from South Pittsburg to 9
per, upon which road there shall &
expended and used such amounts az o
y be determined from time to time, v
the Board of Pike Commissioners, b
to exceed in all. Ten Thousand G
liars ($10, 900 90. Such an amount e
the Pike Commissioners may from d
le to time designate and authorize, q
to exceed $40. 900. 90 shall be spent Il
the East Valley road, one-half Of o
d amount to be expended above and o
'-half below the point where Road O