The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-01-01
LEGAL NOTICES.
NOTICE.
NOTICE.
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
sp Memphis, Tenn, until 2:SO o'clock
p, M, Tuesday, January It'll. 1919 for
SFven Hundred Fifty Thousand $780,
W 00) 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 cnarter amend
ment known as Chapter 4S7 of the Pri-
vate Acts of Tennessee in 1917 and
further in pursuance OF an ordinance to
be passed on third ana final reading
on said January 18th. 1919 prior to open
ing Of sealed bids hereunder.
These notes will bear date Of Janu-
{ary list, 1919 and will mature September
, vt, 1919 without option of prior pay
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 1st, 1919,
These notes will be IN the denomlna-
ton of One Thousand C$1, 900. 00l Dol
lars each and will he numbered con-
secutively from number one TO number
seven hundred fifty; both inclusive.
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
1OIk Ut at Ile bllN nan III NlttlDIlss
Tenn, at the option Of the holder.
These notes shall not be sold for
less than par plus accrued interest to
date Of delivery, free from all COM
missions and brokerage; provided how
ever, that should It be necessary a bid
as low as ninety-nine 1893, 00l dollars on
the one hundred G100. O0) dollars OF face
Value plus accrued interest to date Of
delivery and free from commissions
and brokerage, may be accepted by a
fnItr- fiftbu Syofo cf thn ENord nf TOun.
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, I20 Broadway,
New York city. His tull and final APP
proving opinion that these notes when
sold and delivered pursuant to the
terms of aforesaid legislation will con
O~stitute valid and legaIiy binding ob)i-
cations of aid City of Memphis. Ten
nessee" will be furnished by the City
II Memphis together with Treasurer's
receipt for proceeds or sale, certificate
of genuineness of signatures on notes
attested by the Bank of Commerce anc
full transcript Of proceeding by the
Board of Commissioners IN passing or
dinance and selling these notes.
These notes will be delivered in Mem
of New York a. -" c-+ion of the pur-
phis 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 days thereafter. A certified check
on some solvent bank or trust com.
pany in the sum of Seven Thousa4c
Five Hundred ($7, 500. 00) Dollars made
payable to the order or the City o.
Memnhis, shall accompany the proposal
as good faith deposit.
The approval of the issuance and sale
Of these notes has been secured from
the Capital Issues Committee and t
certified copy of their opinion will b.
furnished to the purchasers,
The notes will be signed by the Mayo
and the City Clerk and the attached
interest coupons VIII bear the fac-simile
signatures of said officers,
The notes win be impressed with th'
seal Of the City.
These notes win, under ordinance au
thoriZing them. be sold only by sealet
bid at time and place advertised,
Bidders may submit an alternate BIZ
for delivery at deferred dates; pro
yided that not less tnan two hundred
Of said notes shall be taken and pait
for by January 18th, 1913, and that no
less than 200 additionar notes shall b
taken and paid for every thirty day
thereafter, and provided further tha
said bidder shall state IN mis- hid tn
base rate which the proceeds will cos
the city of Memphis that compariso
may be had with bids Tor spot deliv
Ferry.
THE right is reserved to reject an
and all bids, 800,
The fuli faith and credit Of the Cit
Of Memphis will be pledged for tn
fun and prompt payment of the prtn
clpal and interest of these notes as tn
same respectively become due and an
legal holder of same will De entitlc
"a enforce his rights by legal process
The proceeds of these notes will b
Aeposited wifi the city Treasurer ar
VII be used for any and all purpose
for which it Is proper 10 levy taxes UP
on taxable property of the City {
Memphis, except for payment OF prin
cinal and interest on the bonded det
of the City, but the purchaser Will nc
, be required to see to such .applicatio
~ and the receipt of the said treasure
afall be a full acquittance to such nui
chaser. 4,
undersigned. A..
Done at Memphis, tennessee, tn
18th day Of December, 1918.
F, L. MONTENEGRO, Mayor
Attest. G. c. PASHBY. City Clerk,