The states-graphic. (Brownsville, Tenn.) 1???-1984, 1916-07-28
ELECTION NOTICE

Aldermen OF the town OF BrounsxijI[
{ Tennessee, have by a proper ordin
: ance, requested and directed the IN
dersigned to call an election for ii
/ purpose of voting on bond ISSUE j
100000 and on the question Of rails
ing the present tax rate in the tow
| of Brownsville, Tennessee, 25c on in
500 of taxable property in the cor
porate limits of said town of Browns
vile, Tennessee, for the purpose 8
building, repairing and maintaini1,
the streets of said town and which sal
ordinance is as follows, towit:-
ORDINANCE NO. 356. 4
| Section BE it ordained bv tn.
Board of Mayor and Aldermen Of tn,
Town of Brownsville, Tennessee. tha'
an election be called and held in tn,
town of Brownsville, Tennessee, on the
Bird day of August, 1916, for the pur,
pose of submitting to the qualified
voters of said town of Brownsville
Tennessee, the question of issuance
and sale of interest bearing bonds OF
said town to amount of TWENTY
FIVE THOUSAND DOLLARS, bear
ing interest at the rate of six (6) per
cent per annum, payable semi-annual-
ly and for the purpose of submitting
at the same time and place and in the
same manner, to the qualified voters
of said town, the question of raising
the rate of taxation % cents on the
$4,000 of assessed property, for the
purpose of raising funds with which
to pay the semi-annual interest accru-
ing on said bonds and paying said
bonds when they mature and keeping
the streets of said town in repair. Said
election shall be advertised in the
States-Graphic, a weekly newspaper
of general circulation, published in
the town of Brownsville, Haywood
county, Tennessee, for thirty (3O)
days after the final passage of this
ordinance and before said election is
held, and in such advertisement or no
tice this ordinance shall be set out
verbatim. That said election shall be !
held in the same manner and by the
same officials as state and county cleo
tons, and shall be subject to and in
with the general election
laws of this state and said municipal
ty.
Section BE it further ordained,
That the ballot used at said election
shall have printed thereon the words,
For Bonds and the Raise of Tax
Rate" and the words against Bonds
md the Raise of Tax Rate" and those
'avoring or approving the issuance
md sale of said bonds and raise of tax
ate shall make cross mark opposite
he words For Bonds" and those op-
posing the issuance and sale of said
'onds and raise of tax rate shall make
cross mark on the ballot opposite the
words against Bonds" provided. that
a majority of the qualified voters
t said town voting in said election APP /,
rove such bond issue, and issuance
nd sale Of said bands and raise of tax
ate then the said bonds shall be is I
ued and sold by the mayor and alder Q
hen of said town of Brownsville, I'M !
er the provisions of chapter fifty of
he Public Acts of the General Assem- Y
ly of the State of Tennessee at the E
rst extra session of the Legislature I
uring the year 1918, and if sold then t
lie tax rate may be raised according d
Section 3:-Be it further ordained, il
hat if a majority of the qualified vo- II
rs of said town voting in said cleo G
on approve the issuance and sale of
I'D bonds then the board of MAYOR p
I'D aldermen of said town shall issue n
I'd sell said bonds of said town to the 81
t of Twenty-Five Thousand Dol b.
rs, and said bonds shall run for S;
irty 500 years and shall bear inter p,
t at the rate of per cent per an g
I'm, said interest to be paid and pay So
lie semi-annually, interest coupons
be attached to said bonds. That m
i'd bonds shall be issued in denomi- :,
tions of Five Hundred Dollars each, e.
d shall be payable both the interest
d principal at such place as may be r,
signated by the purchaser. That for
first five years the interest only will +,
paid on said bonds, paying same =
ni-annually and thereafter begin r.,
lg on October 1st, 1922, One Thous- :
d Dollars of said bonds shall be paid
ch year together with interest on
d bond issue and on until the entire
nded indebtedness herein provided
together with all interest thereon
all be fully paid and discharged at 70,
end of 30 years from October LIST, i'm
10. That the said bonds shall be he
d for cash, but in no event shall t;o
d bonds be sold for less than par VII
face value. That said bonds when 3r,
ued and sold shall be a binding OBJ IN,
alton and debt on said municipality in
if the said bonds are issued and ou
d, then the board of mayor and al Ger
men shall annually levy a tax on If
the taxable property in said town the
Brownsville, Tennessee, for the hon
rpose of paying the interest on .
q bond as it natures and paying off an,
bonds as they mature as set out at
this ordinance. The proceeds of Il.
= Of said bonds, less the necessary anc
'ense incident to the sale thereof. ~
IL be turned over to the treasurer life
he town Ct Brownsville, Tennessee. ha,
IL. III L Il 4 1