The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-12-23
Tbr nems 5rtmttar
Classified Section
LEGAL NOTICES.


~
In Memphis, Tenn, until ESQ o'clock
m, tuesday, January 7th. 1919 for
Seven Hundred Fifty Thousand S75Nt
10000 Dollars Of Revenue Notes Of the
city Of Memphis, Tenn, series Of 1ei0
lhese notes are to be issued under
and IN pursuance Of the cnarter amend
ment known as Chapter 4S7 OF the PR.
tate AGts OF tennessee in 1917 and
iurther in pursuance OF an ordinance 10
be passed on third and final reading
on said January It'll, 1919 prior 10 onens
ing of sealed bids hereunder.
Ihese notes will bear date of Janu-
airy lSt 1919 and viii mature September
ISL, lSls without option Of prior pay
ment by the City OF Memphis.
The rate Of interest will be five IL,
per centum per annum and the interest
VIII he evidenced by one coupon for
Two months interest due on March LIST.
lsI9 and one for six months interest
oue September LIST, 1918.
Ihese notes viii be IN the deuomina-
IuoH OF one Thousand 81, 900. 00) Dol
sars each and will be numbered con-
seCutiVely from number one TO number
seven hundred fifty, both inclusive.
hese notes will be payable both as
70 principal and interest In lawful
money Of the United states at the
nnited states Mortgage and Trust Com
pany IN the City and State OF New
rork or at the city Hall in Memphis,
en-, at the option of the holder.
Ihese notes shall not be sold for
less IMAM par plus accrued interest to
uate OF delivery, free from all COM
missions and brokerage: provided how
ever that should it be necessary a bid
as low as ninety-nine 1899. 00) dollars on
inc n hundred $500. oO) dollars of face
Eaiue plus accrued interest to date Of
ueI5Very and free from commissions
anu brokerage, may be accepted by q
Iour5Il1ths vote of tho Board of Com
In the preparation ana sale of these
notes me legal steps LAY been taken
under the direction OF Jno. c. Thomp-
SON Attorney at Law, 100 Broadway,
new York city. His ruIl and final ap-
proving opinion that these notes when
soId and delivered pursuant to the
terms of aforesaid legislation will 'con-
stltute valid and legaliy binding obli-
cations Of said City Of Memphis, Ten
hesSee' will be furnished by the City
OF Memphis together with T~reasurer's
receipt for proceeds or sale, certificate
Of genuineness OF signatures on notes
attested by the Bank of Commerce and
IfGsI Company, Memphis, Tenn, and
a ful! transcript of proceeding by the
BOARD OF Commissioners IN passing or
olliance and selling these notes.
ihese notes will be delivered in Mem
pms, IN New York, or the equivalent
OF New York at the option of the pur-
chaser, Payment shall he made in Mem
PMS or New York funds. Delivery will
De made within forty-eight hours after
sale, Bidder will state point OF de-
iiVery desired. In case Of New York
delivery, legal opinion will be delivered
at same time as notes; otherwise. with
IN 4 DAYS thereafter. A certified check
on some solvent bank or trust com
pany in the sum of Seven Thousand
rive HnnIFpA 1877 Enn AnN nn11av . "a 4
payapie to the order or the City Of
Memphis, shall accompany the proposal,
as good faith deposit.
Ihe approval of the ISSUANCE anG sale
OF these notes has been secured from
the Capital Issues Committee and d
certl!ed copy OF their opinion will be
furnished to the purchasers.
The notes will be signed by the Mayor
n the City Clerk and the attached
interest coupons will bear the fac-simile
signatures Of said officers.
The notes will be impressed with the
seal OF the City.
These notes will, under ordinance au-
thorizing them, be sold only by sealed
bid at time and place advertised.
Bidders may submit an alternate bid
for delivery at deferred dates; pro-
vided that not less tran w hundred
of said notes shall be taken and paid
for by January 18th, 1919, and that not
iOoS llldl EUU duulIlOIbI HOlbb Sinai Db
taken and paid for every thirty days
thereafter, and provided further that
said bidder shall state In mis- bid the
base rate which the proceeds will cost
the city of Memphis that comparison
may be had with bids ror spot deliv-
cry.
The right is reserved to reject any
and all bids.
The full faith and credit OF the City
Of Memphis will be pledged for the
full and prompt payment Of the prin-
cipal and interest of these notes as tho
same respectively become due, and any
legal holder Of same will be entitled
to enforce his rights by legal process
The proceeds of these notes will be
deposited with the City Treasurer and
will be used for any and all purpUsCs
for which It is proper TO levy taxes up.
IN taxable property Of the City of
Memphis, except for payment Of prin-
cipal and interest on the bonded debt
Of the City, but the purchaser will not
be required to see to such application
and the receipt OF the said treasurer
shall be a full acquittance to such pur-
chaser.
For further Information apply to the
undersigned. 49,,
Done at Memphis, Tennessee, this
18th day Of December, 1915.
F. l.. MONTENEGRO, Mayor. /
Attest; c. c. PASHBY, City Clerk.