The commercial. (Union City, Tenn.) 190?-193?, 1915-06-04
BOND ISSUE BILL FOR
CITY HALL IN UNION CITY
Chapter 401. Senate Bill No. 1878
Private Acts.
(ElkinSl

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exceeding fifteen thousand dollar
($15,OO0.00) of interest bearing
coupon bonds, to be used for tn
purpose of building, constructing
erecting and furnishing a Cit,
Hall for said town of Union City.
Section l. Be it enacted by thu
General Assembly of the State o.
Tennessee, that the Mayor and AL
dermen of Union City, municipal
ty in Obion County, Tennessee, is
hereby empowered in its corporate
capacity to issue bonds of said town
TO be signed by the Mayor and
countersigned by the Recorder, with
interest coupons attached and the
corporate seal of said town affixed
thereto, to an amount not exceed
ing fifteen thousand dollars ($15,-
100000.
Sec. 2. Be it further enacted, That
the bonds herein provided for shall
be executed in the denominations of
five hundred dollars ($500) each,
and shall mature in not exceeding
thirty years from the date of is
suance, bearing interest at the rate
of not more than six CO.. per cent
per annum, as the Board of Mayor
and Aldermen of Union City shall
by ordinance or resolution de-
termine, and said interest to be paid
Semi-annuaIly. Said bonds shall in
no case be sold for less than their
face value, and shall be payable in
legal tender money of the United
States of America, at a place desig-
mated by the Board of Mayor and
Aldermen by resolution.
Sec. g. Be it further enacted, That
the proceeds realized from the sale
of said bonds or such parts thereof
as may be deemed necessary shall
be used exclusively for the purpose
of building, constructing, erecting
and furnishing a City Hall for said
town of Union City, in such manner
and to such an extent as the Mayor
and Aldermen may direct by ordi-
nance or resolution.
Sec 4. Be it further enacted, That
before said bonds shall be issued, an
election or elections shall be held
in Union City, Tennessee, to ascer-
tain the will of the qualified voters
of said town with reference to the
issuance of said bonds. As many
elections may be held as the Mayor
and Aldermen may deem necessary,
and at such time and as many diff
ferent times as the Mayor and AL
dermen may deem proper. The cleo
tion or elections herein provided for
may be held at the time of any town
election for Mayor and Aldermen
and by the same officers, and upon
the same ballot used in such cleo
ton, or at any other time the Mayor
and Aldermen may direct; but any
such election shall be advertised for
at least thirty days in one of the
local newspapers published in said
town, and each and all of such cleo
lions shall be called and held with
the same formalities and under the
same conditions and in the same
manner as the regular elections for
Mayor and Aldermen of said town
are now called and held as required
by law.
Sec. 5. Be it further enacted. That
at any Of these elections herein pro-
vided for, that all persons shall be
entitled TO vote who are qualified
to vote for Mayor and Aldermen in
the regular elections of said town.
Legal ballots shall be used in such
elections, upon which shall be writ
ten or printed For Bonds, Against
Bonds" Those in favor of issuance
of bonds shall make a cross mark,
thus, *" opposite the words For
Bonds" and those opposed to the
issuance of said bonds shall make
a cross mark, thus, "X," opposite
the words Against Bonds" If at
any election held under the authori-
ty of this Act the majority of the
votes cast are in favor of the is
suance of said bonds, then the May
or and Aldermen shall have the
power and authority to issue the
bonds so authorized by said election
as herein provided, but not other
wise.
Sec. 6. Be it further enacted, That
if the bonds are issued under the |
provisions of this Act, the Mayor |
and Aldermen are hereby authorized |
and empowered to levy such taxes
on property, privileges, and polls of
the city or town of Union City, as
will be sufficient to pay the semi
annual interest on said bonds and |
provide for sinking fund to meet |