Putnam County herald. (Cookeville, Tenn.) 1903-1922, 1915-08-12
CHAPTER 2s2, HOUSE BILL NO. 500



An Act to authorize Putnam coun,
ty to issue and sell its coupon bonds
to an amount not exceeding Fifty
Thousand ($5O,OOO) Dollars. for the
purpose of buying suitable grounds,
improving the same, and building and
Iequipping High School or other school
buildings for said County, on buying
grounds already improved and ready
to be occupied and used for High
School or other school purposes, and
for the purpose of levying and collect
ing taxes to pay the interest on said
bonds, and create sinking fund for
their redemption.
Section 1. Be it enacted by the
General Assembly of the State often
nessee, That the County of Putnam,
through its Quarterly Court, be, and
is hereby authorized and empowered
to issue and sell bonds of said Coun-
ty to an amount not exceeding Fifty
Thousand (s50,000) Dollars, for the
purpose of buying suitable grounds,
improving the same, building and
equipping High School and other
School buildings for said County, or
buying grounds already improved and
ready to be occupied and used for
High School and other school pur-
poses
Sec. 2. Be it further enacted, That
the bonds herein provided for shall
be known as the Putnam County
High School or other School Bonds"
and shall be.r interest at the rate of
six per cent per annum. payable
annually, and said bonds shall be pav.
able in twenty years from the date
thereof and there shall be attached
to each of said bonds coupons for
each installment of interest thereen
maturing at the. proper date. but bear
ing the number of the bond to which
it is attached.
Sec. 8. Be it further enacted, That
each of the said bonds shall be signed
by the Judge of the County Court,
and countersigned by the Clerk, with
his official seal affixed thereto, and the
coupons attached to each bond shall
be signed by said Judge and Clerk,
but the signatures to the coupons may
be autographed. Said bonds may be
in the denominations of One Hundred
($100), Five Hundred ($5OO), and One
Thousand $4,000 Dollars, and the
bonds Of each denomination shall be
numbered in the order of their issu-
ance, beginning, with one, and this Act
may be printed on the back Of said
bonds
Sec. 4. Be it further enacted, That
said bonds shall not be sold for less
than par.
Sec. s. Be it further enacted, That
it shall be the duty of the Quarterly
Court of said County annually to levy
a tax on the taxable property of said
County for the purpose OF paying The
annual interest on said bonds, and al
SO for the purpose Of creating a sink
ing fund for the redemption of said
bonds and the County Judge shall
keep in well bound book the number
and determinations of all bonds issued
under this Act.
Sec. 6. Be it further enacted, That
The proceeds Of the sale Of said bonds
shall constitute special fund to be
known as the School Bond Fund.-"
which shall be kept by the Trustee
and apart from all other
funds, and shall be applied exclusive
" to the purposes herein set out by
he County High School OF other
school Board Of Putnam County, who
shall have authority to draw warrants
IN the Trustee on account of said
'unds, for the purposes herein provid-
ID only.
Sec. Z Be it further enacted, That |
he Trustee shall hold and disburse
his fund as provided herein, without
compensation.
Sec. g. Be it further enacted. That
his Act take effect from and after its
the public welfare requiring /
t.
Passed April 3rd5 1915.
WIN. r COOPER
speaker Of the House Of Representa-
tives.
ALBERT E. HILL,
Speaker Of the Senate
Approved April 3rd, 1915.
TOM c. RYE, Governor.