The news scimitar. (Memphis, Tenn.) 1907-1926, 1918-12-28
LEGAL NOTICES.

600.O0l Dollars Of Revenue Notes Of the
City OF Memphis, Tenn, series Of 1919.
These notes are to be issued under
and in pursuance OF the CnaTter amend
ment known as Chapter 49, Of the Pri-
waite Acts of Tennessee in 1917 and
further in pursuance OF an ordinance to
be passed on third and final reading
en- said January 18th. 1919 prior to open.
ing Of sealed bids hereunder.
These notes will bear date Of Janu-
airy LIST, 1919 and win mature September
LIST, 1919 without option of prior paw
ment by the City Of Memphis.
The rate of interest will be five (5)
per Centum per annum and the interest
will be evidenced by one coupon for
two months interest due on March LIST.
1919 and one for six months interest
due September LIST, 1919.
These notes will be IN the denomina-
ton of One Thousand Isl, O00. 00) Dol
lars each and will be numbered con-
secutively from number one to number
seven hundred fifty. both inclusive.
These notes will be payable both as
to principal and interest in lawful
money of the United states at the
United States Mortgage and Trust Com
pany in the City and State of New
York or at the City Hall in Memphis,
Tenn, at the option of the holder.
These notes shall not be sold for
less than a plus accrued interest to
~ = . = NAl YIN
missions and brokerage; provided how
ever, that should II be necessary a bid
as low as ninety-nine 1899. 00) dollars on
the one hundred G100. OO) dollars or face
value plus accrued interest to date Of
delivery and free from commissions
tour-fifths vote of the Board of Com
missionerS.
In the preparation ana sale Of these
notes the legal steps nave been taken
under the direction OF Jno. c. Thomp-
son, Attorney at Law, 12O Broadway,
New York city. His full and final ap-
proving opinion that these notes when
sold and delivered pursuant to the
terms of aforesaid legislation will "con-
stitute valid and Legally binding obli-
cations Of said City Of Memphis, Ten
n%essee" will be furnished by the City
OF Memphis together with Treasurer's
receipt for proceeds or sa1en certificate
OF genuineness of signatures on notes
attested by the Bank Of Commerce and
trust Company, Memphis, Tenn, and
q Iuli transcript of proceeding by the
Board of Commissioners IN passing or
dlnance and selling these notes.
These 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 be made in Mem
PMS or New York funds. Delivery will
be made within forty-eight hours after
sale. Bidder will state point Of de-
livery desired. In case of New York
delivery, legal opinion win be delivered
at same time as notes; otherwise, with
IN 4 lays thereafter. A certified check
on some solvent bank or trust COM
pany in the sum of Seven Thousand
Five Hundred ($7, 100000 Dollars made
payable to the order OF h City Of
Memphis, shall accompany the proposal,
as good faith deposit.
The approval of the issuance and salO
OF these notes has been secured from
the Capital Issues Committee and a
certified copy of their opinion will be
furnished to the purchasers.
The notes will be signed by the Mayor
and the City Clerk and the attached
interest coupons will bear the facsimile
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 tnan two hundred
OF said notes shall be taken and paid
for by January 18th, 1913, and that not
less than 200 additionar notes shall be
taken and paid for every thirty days
thereafter, and provided further that
said bidder shall state IN his bid the
base rate which the proceeds will cost
tHe CITY OF memphis tnat comparison
may be had with bids Tor 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 purposes
for which 1t is proper TO levy taxes up
on taxable property Of the City of
Memphis. except for payment Of prin-
clpal 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 pun
chaser. .
For further Information apply to the
undersigned.
Done at Memphis, Tennessee, this
10Th day Of December, 1918.
+. i. MONTENEGRO, Mayor.
| Attest: G.. C.. PASHRY. CITY Clerk,