The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-01-02
LEGAL NOTICES.
NOTICE.
Second Annual Sale of Reve-
nue. Notes.

Notice is hereby gwen that sealed
bids will be received by c. c. Pashby, !
City Clerk Of Memphis. at the City Hall
in Memphis. Tenn. until 2:30 o'clock
=. m, Tuesday, January 18th, 1919 for |
Seven Hundred Fifty Thousand G750,- |
coo o0l Dollars Of Revenue Notes Of the
City of Memphis, Tenn. series of 1919. |
These notes are 10 % issued under
ment known as Chapter 4S7 of the Pri.
vate Acts Of Tennessee in 1917 and
further in pursuance or an ordinance to
be passed on third ana final reading |
en- said January eth; 1919 prior to open,
ing OF sealed bids hereunder.
These notes win bear date Of Janu.
airy LIST, 1919 and will mature September
list, 1919 without option of prior pay
ment by the City Of Memphis,
phe rate Of interest will be five (5)
irsr centun1 per annum and the interest
will be evidenced by ono coupon for
two months interest due on March LIST,
1919 and one for six months interest
due September LIST, 1873.
ton of One Thousand (S1. 900 .OO) Dol
Jars each and will be numbered on
~Secutively from number one to number
seven hundred fifty, both inclusive.
\ These notes will be payable both as
70 principal and interest in lawful
United States Mortgage and Trust Com
rany 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 he sold for
lcshthan par plus accrued interest to
datV of delivery. free from all com-
misNpns and brokerage; provided how
evcrS that should 1t be necessary a bid
as low as ninetY~nine 1899 00) dollars on
the one hundred $500, 0Ol dollars " face
value plus accrued interest to date Of
delivery and free from commissions
and brokerage, may be accepted by a
four-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 or n c, Thomp-
son, Attorney at Law, 40 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
Of Memphis together with Treasurer's
receipt for proceeds or safe. certificate
OF genuinenesS of signatures on notes
attested by the Bank of Commerce and
Trust Company, Memphis, Tenn" and
a fun transcript of proceeding by the
Board OF Commissioners IN passing or
dinance and selling these notes.
These notes viii be delivered in Mem
phis, in New YORK, or the equivalent
Gf New York at the option Of the pur-
tlidStI. i dlIIltlll 0lldl it ltiod' III AhV'l'-
phis or New York funds. Delivery will
be made within forty-cight hours after
sale. Bidder will state point Of. de-
livery desired. In case of New York
delivery, legal opinion VII be delivered
at same time as notes; otherwise, with
in LAYS thereafter. a certified check
on some solvent bank or trust com
pany in the sum of Seven Thousand
Five Hundred tS7,5 800. 00l Dollars made
payable to the order or the city OF
Agop,pITe shall DrrprAyao nv Ytn nronnuaI
as good faith deposit.
The approval Of the issuance and sale
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 viii be impressed with the
These notes win. under ordinance au-
tborizIne them. he sold only by sealed
bid at time and place advertised.
Bidders may submit on alternate bid
for delivery at deferred dates: PRO
vidad that not less tnan W hundred
OF said notes shall be taken and paid
for by january ETH, 1919, and that not
less than 700 additionaI notes shall hc
taken and paid for every thirty day.
thereafter. and provided further thai
said bidder shall state IN MIS- hid The
base rate which the proceeds viii cost
the city Of Memphis tnat comparison
may be had with hid ror spot deliv'
cry.
The right is reserved to reje>t any
and all bids.
The fun faith and credit Of the City
of Memphis will be pledged for thu
fun and prompt payment of the prin'
cipal and interest Of these notes as Thu
same respectively become due and any
legal holder Of same will he entitled
10 enforce his rights ny legal process
The proceeds OF these notes will bt
deposited with the City Treasurer onC
viii be used for any and All purpose
for which it is proper TO levy taxes up
on taxable property OF the City o
Memphis, except for payment OF prrn
cipal and interest on the bonded del
Of the City, but the purchaser viii 10
he required TO see to such application
and the receipt of tae said treasure
sholl be a fun acquittance To sucn nui
chaser.
Undersigned. a.,
Done at Memphis, Tennessee, thi
10Th dav of December, 1918.
r. l.. MONTENEGRO. Mayor.
At+,c+. & G. PASHBY, CitV Clerk.