The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-06-09
proposed ORDINANCE UP
FOR SECOND READING
TUESDAY, JUNE
10, 1919.
AN ORDINANCE

IL DioNtuC lOl III ADSudttSCs oolO oAAN
retirement of and payment Of interest
upon one hundred fifty thousand
$3.50, 000) dollars of general liability
negotiable coupon bonds of the City
of Memphis, under the provisions of
chapter 296 of the private acts Of the
general assembly of the state OF Ten
nessee for the year 1919, authorizing
the said City of Memphis, among
other things, in connection and by
cooperation with the County Of
Shelby, TO erect and equip a Tuber-
culosis hospital or tuberculosis hos
pitfalls, and to issue bonds in a sum
not exceeding $3.50, 000 for the purpose
above recited.
Whereas, the City of Memphis is
authorized and now desires to proceed
with the erection and equipment of a
tuberculosis hospital or tuberculosis
hospitals, in compliance with chapter
296 Of the private acts of Tennessee for
the year 1919, in connection and by CO.
operation with the county of Shelby,
which is likewise authorized and pre-
pared, and now desires to proceed with
said enterprise; the City of Memphis
accepting especially the provisions of
said chapter 296 relating to the matter
of selling bonds, and the joint use for
such Tuberculosis hospital or Tubercu-
losis hospitals purposes of ground o
owned by said city and by said county
as the site for said institution or insti-
buttons; and,
Whereas, the board of joint trustees
heretofore appointed by the board of
| county commissioners of Shelby county
and the board OF commissioners Of the
City of Memphis, under chapters 20s
and 3S7 of the private acts OF the gen.
eral assembly OF the State Of Tennessee
for the year 1917, for the purpose Of
erecting, equipping. supporting and
mainta lining and operating tuberculosis
l .nnzEAo 80 Tt,In..rt,Inat~ INanttn1a Hn Hra
especially organized and qualified pur-
suant to the terms of said chapter 296
to carry out all the provisions thereof;
| now, therefore!
Section J.. Be 1t ordained by the
| board of commissioners of the City OF
Memphis, That, under and by virtue of
the authority of the provisions or chap
ter 296 of the private acts of the gen.
eral assembly of the State of Tennessee
| for the year 1919, the City OF Memphis
| shall issue, and the mayor and city
clerk are authorized to execute and de-
liver one hundred fifty thousand ($150,
000) dollars of bonds, that the City OF
Memphis may, in connection and by CO.
operation with the county Of Shelby
erect and equip a tuberculosis hospital
or tuberculosis hospitals.
Said~bonds shall be general liability
negotiable serial coupon bonds, payable
to bearer, and the proceeds OF the sale
| are 10 De uStu SDlttN alt tACluSlfGly
for the purpose of carrying out the pro
visions OF said chapter 296 in erecting
and e%quipping a tuberculosis hospita
or Tuberculosis hospitals in conjunction
with the county of Shelby, and no par
Of said proceeds shall be used for an,
other purpose. Provided, however, tina
the expense of selling the hereii
provided shall be deducted from the ne
proceeds, but nc interestpayments shall
be so deducted.
sec. 2. Be it further ordained, Tba
said bonds shall be issued In denomina
tons of one thousand Isl ,000) dollar
each, dated the first day of April. 1918
three quarters per centum per annum
or five per centum per annum, as shal
be determined by the board OF commits
sioners at the time of making sale o
said bonds hereunder; provided, how
ever, that no higher rate shall be deter
mined upon than shall be necessary t
provide a bid Of par.
The interest shall be payable semi
annually on the first days OF Octobe
and April in each and every year unit
maturity.
Said bonds shall be signed by tn
mayor and by the city clerk of the Cit
OF Memphis, Tennessee, and the interes
shall bear the autographed sig
nature of the mayor,
Said bonds may be registered as
principal only, in the name of TIL
holder, such registry to be c%ertifie
thereon by the city clerk, n sal
bonds as to principal only shall be like
wise subject to successive registration
or transfers at the option OF the hold
ers thereof, After registration u
: transfer shall be valid unless made o
!. the books OF the city clerk by tn
: similarly noted on the bond, But san
may be discharged from registratio
/, by being transferred to bearer. att
, which II shall be transferable by d.
: livery, but 1t may again be regtstere
as before. The registration of u
: bonds as TO principal shall not restra'
, the negctiability OF h oupo
said bonds shall be numbered col
! secutively from number one 10 nun
E Der one hundred fifty, both inclusiv
, and without privilege of prior redeml
. ton, shall mature as follows:
Nos / to 6 both inclusive, $500
, April /. 1925.
. Nos, Z to IL both inclusive, $500
! April l.. 1926.
Nos. IL TO IS both inclusive, $500
Nos. 10 10 "a both inclusive. $500
Nos. IS to 80 both inclusive, SOC
Nos. AZ 10 SO both inclusive, sS,0t
i April /, 1880. "a a,
Nos. 81 to ~ both inclusive se,e'
Nos. "a to As both inclusive. ss,ot
e April /, 1882. - .e n,
e Nos. 40 to 81 both inclusive, so'V'
= Nos. ss TO 60 both inclusive, $500
Nos. 81 to Sc both inclusive, $50
Nos 81 to 70 both inclusive, $50
April I. 1896. -.
Nos. as 70 rs both inclusive, $50
April 1. 1891, 49,
Nos. 70 10 81 both inclusive, se,e
April 1, 1888. .,..,.. az a