The Lexington progress. (Lexington, Tenn.) 1884-current, 1919-05-30
New Acts.

Chapter 36l House Bill NO, 100.
(By Montgomery, Henderson co..
An act authorizing, empowering
and requiring all counties Of this
State having a population of not less
than 1900 nor more than 1920 by
the federal census of 1910, or which
may have such population by any
subsequent federal census, through
and by the County Judge or Chair
man of the County Court, and the
County Court Clerk under the direc-
ton of the Quarterly County Court
to issue not exceeding, One Hundred
thousand (S1O0,00000) dollars of in.
terest bearing coupon bonds at rate
of interest not exceeding six per cen
tnm per annum, for the purpose OF
providing means and funds to build
and repair roads, bridges, levees and
eulverts in said counties; providing
for the levying and collecting of tax
es on the taxable property of the
county, to pay the interest on said
bonds and to create a sinking fund
for the payment of the principal of
said bonds at their maturity; provid-
ing a means and method of handling,
paying out ard disbursement NJ such
funds ts4lsing f.oss. slgt C~fe Jf sad
bonds, and for other purposes.
Section 1. Be II enacted by the
General Assembly Of the State Of
Tennessee that all counties in this
State having a population of not less
than 1900 and not more than 1920
by the federal censuc of 1910, and
which may have such population by
any subsequent Federal census, be
and they are hereby authorized EN-
powered, directed and required
through and by the County Judge or
Chairman of the County Court, and
the County Court Clerk, under the di-
rection Of the Quarterly County
Court in the manner hereinafter set
out, to issue interest bearing coupon
bonds in an amount not exceeding
One Hundred Thousand ($l00,000)
dollars due and payable twenty t20l
years from the date of their issu-
ance, for the purpose of raising funds
and monies with which To build, con-
struct, repair and improve roads,
bridges, leveeS and culverts of the
counties to which this Act applies.
Section 2. BE it further enacted
That the Quarterly County Courts of
all counties coming under the provis-
ions of this Act, at the next regular
quarterly session after the passage
of this Act or at any special or extra
ordinary session for that purpose,
shall, by resolution entered upon the
minutes of the court, which resolu-
tion shall have passed by majority
Of the said Quarterly court, fix and
determine the amount of bonds to be
issued not to exceed One Hundred
Thousand ($1O0,000.00) dollars, and
shall fix the rate of interest which
said bonds shall bear, and which rate
shall not exceed six per centum per
annum, payable semi-annually and
which said resolution shall fix the
time and place of payment Of the
principal and interest on said bonds,
and shall also fix the denomination
of said bonds.
Section 8. Be 1t further enacted,
That Immediately upon the passage
of the said resolution by the said
Quarterly County Court, the County
Judge or Chairman of the County
Court shall issue the bonds provided
for in the said resolution, which
bonds shall bear the signatures of
the County Judge and shall be coun-
tersigncd by the County Court Clerk,
and to which bonds shall be attached
hearing coupons represent
ing the several interest iHstallments
accruing on said bonds, which inter-
est coupons shall bear the facsimile |
Of the County Judge, or
Chairman Of the County Court and |
The County Court Clerk.
Section 4. Be 1T further enacted
That Immediately upon the issuance |