The commercial. (Union City, Tenn.) 190?-193?, 1915-07-09
CITY OF FULTON.
Chapter No. 300. House Bill No. 7ee,
Private Acts.
(McDADE BY REQUEsr)

and empower the Mayor and Gil
Council of the Municipal Corp
ration of the "City of South Flu
tom" Obion County, Tennessee
70 provide for the PURCHASING
owning, building. erecting an
placing in operation a system {
water works for the said munic
pal corporation OF the City
South Fulton, Obion County, Ter
nessee, and to authorize the /;
suance of interest bearing nege
table bonds for said purpose an
to assess, levy and collect take
~ Tor the payment of same and in
terest thereon.
Section 1. Be it enacted by tn
General Assembly of the State o
tennessee, That the Mayor and Cit
Council of the municipal CORPORA
ton of the "City of South Fulton,
Obfon County, Tennessee, be an,
they are hereby authorized and EN-
powered to issue negotiable interes
. bearing coupon bonds of the Mum
cipal Corporation of the said Cit,
OF South Fulton, Obion County, Ten
nessee, to an amount not to exceed
Twenty Thousand ($2O, Dol
lars for the purpose of buying, pur
chasing, owning, establishing, build
ing, erecting and placing and put.
ting into operation a system of wa.
terworks for said Municipal Corpo.
ration OF the City of South Fulton
Obion County, Tennessee, and tofur-
nlSh the inhabitants of said City OF
South Fulton and the suburbs there
or with water for the houses, Of
noes, manufacturing plants, business
houses, and for all other purposes
for which water from system of wa
terworks may be used in said town
and suburbs thereof. The amount
and cost of such system of water
works shall be prescribed by the
Mayor and City Council of said City
OF South Fulton, Obion County, Ten
rlessee, so that the aggregate there
OF shall not exceed Twenty Thou
sand Dollars.
Sec. 2. Be it further enacted, That
said bonds shall be in the denomi-
nation of One Hundred ($1OO.OO)
Dollars or some multiple thereof
with coupons attached for annual
interest but no single bond shall ex-
coed in amount One Thousand
1,OOO.OOO Dollars, that they shall
be payable principal and interest,
in lawful money of the United States
and said bonds shall be payable at
the end of twenty 600 years from
the date of their issuance or sooner,
at the option of the Mayor and City
Council of the City of South Fulton,
they being given the right to pro-
vide for their payment or the pay
ment of any of them, at an earlier
date than their maturity, by the
payment of the principal and ma
tured interest coupons and take up
and cancel same and all coupons at
tached, said bonds to bear interest
at rate not to exceed six per cent !
per annum, payable annually, and |
in no case to be sold for less than |
heir face value; provided that no
commission or fees shall be allowed |
'r paid to any one for the sale of
'aid bonds. All of said bonds issued |
'hall be denominated "Waterworks
Bonds" and shall be signed by the
Mayor, Recorder and City Attorney
# said City of South Fulton, Obion
}ounty, Tennessee, thereon, or affixed
hereto.
Sec. 3. Be it further enacted, That
before said bonds shall be issued
he Mayor and City Council of said
lily of South Fulton, shall, by or
finance submit the question to the
lily of South Fulton to ascertain
he will of said voters with refer
nee to the issuance of said bonds.
Said election shall be held with
n the said City of South Fulton at :
time specified and designated by
aid Mayor and City Council, by or
nance, the polls to be opened at
inc o'clock a. m. and closed at four l
clock p. m. on such day, and shall
e held in the way and manner pre- 7
cribed by law and by the officials !
Obion County, Tennessee, legally Z Z
to hold the other cleo
ons of said county, who shall APP -.
pint all officers, judges and clerks q
Said---and have the super n
sion thereof and the receiving and a
,unting of the ballots and making "
lie returns thereof, and declaring
lie results.
Notice of said election shall be
1vertised in some newspaper pub
shed in 'Obion County, Tennessee,
r three consecutive weeks, the last
sue to be not less than five days
ext before the day of the election,
by written or printed posters,
,sted up in at least five public
aces in said City of South Fulton, !
oion County, Tennessee, for at
asst thirty days next before the
tie of said election, which notices ]
all give the time, place and pur- {
use of said election as is usual in a
ection notices of like nature and
aracter. :,
Sec. 4. Be it further enacted, That y
the election held as herein pro- :,
ded for all persons shall be en- n
led to vote therein who are quail Fl
d to vote for the city officers and v,
r members of City Council and the b,
ayor of said City of South Fulton,
lion County, Tennessee. O,
Those voting in favor of the is e
ance of said bonds shall have writ
4 or printed on their ballot For =
alter Bonds" and those voting
ainst the issuance of said bonds Y
all have written or printed on
cir ballot the words, Against
ater Bonds" and if at the election
Id under this Act a majority of
votes cast on the proposition of
issuance of said bonds are cast n