The commercial. (Union City, Tenn.) 190?-193?, 1921-06-24
STREET IMPROVEMENT
BOND ISSUE ORDINANCE

An ordinance to issue and sell in
terest-bearing serial Coupon Bonds
of the town of Union City, Ten
nessee, in the sum of THIRTY
FOUR THOUSAND DOLLARS, for
the purpose of defraying the town
of Union City, Tennessee's one
third part of the cost as es-
timated by the Board of Mayor
and Aldermen of said town for
improving First street from Har-
rison street to Main street; Main
street from First street to Ury
street, and Ury street from Mill
street to Cheatham street in said
town, under street improvement
ordinances Nos. 1, and of said
town, and passed and adopted I'M
der the authority of Chapter 18
of the Acts of the first extra ses-
sion of the General Assembly of
the State of Tennessee for the year
1913, without the necessity of sub
hitting the question of the is
suance thereof to vote of the
qualified voters of said town; and
to authorize said town to levy
sufficient special tax on the as
sessed valuation of all taxable
property in said town and to pro-
vide sinking fund for the pay
ment of said bonds and interest
thereon as same become due.
Section 1. Be it ordained by the
Board of Mayor and Aldermen of
Union City, Tennessee, that pursuant
TO the power and authority given by
the General Assembly of the State
OF Tennessee by Chapter 49, of the
Public Acts of the first extra session
of 1913, passed September 10, 1913,
and approved September 25, 1913,
and amendments thereto, there shall
be issued by the town of Union City, |
Tennessee, interest-bearing serial |
coupon bonds, to be signed by the |
Mayor, and signed by the Recorder |
of said town, and to bear the cor
porate seal of said town, in the sum
OF Thirty-Four Thousand Dollars,
($34,000.00) the coupons to bear the
fac smile signature of said officers,
the proceeds of the sale of said Bonds
to be used exclusively for the pur-
pose of defraying the town of Union
City, Tennessee's one-third part of
the cost as estimated by the Board of
Mayor and Aldermen of said town of
improving First street from Harrison
street to Main street; Main street
from First street to Ury street; Ury l.
street from Mill street to Cheatham
street, in the town of Union City,
Tennessee, under street improvement
ordinances Nos. /, 2 and of said
town, duly passed and adopted, and
confirmed June z, 1921.
Section 2. Be it further ordained
that the bonds provided for in the
first section of this ordinance shall ,
be issued and sold without first sub
uniting the question of the issuance
thereof to a vote of the qualified ,
voters of the town of Union City.
Section 8. Be it further ordained
that the bonds provided for in the
first section of this ordinance shall
- issued in the denomination of
$4,000 each and shall be numbered
consecutively from l to 6S inclusive,
and shall bear interest at the rate of
six per cent per annum, interest pay
able semi-annually with interest
coupons attached. Said bonds shall t
be dated July 1, 1921, and shall ma S
ture in series as follows: Bonds
from / to inclusive shall t
mature July 1, 1922; bonds num- 7
bered to inclusive shall mature t
July 1, 1928; bonds numbered TO
8 inclusive shall mature July 1, s
1924; bonds numbered 10 to IL shall b
mature July 1, 1925; bonds num-
bered 10 to Is inclusive shall ma
ture July l, 1926; bonds numbered t
l6 to Is inclusive shall mature July Il
1, 1927; bonds numbered 10 to FL
inclusive shall mature July 1, 1928; Il
bonds numbered % to "a inclusive Q
shall mature July 1, 1929; bonds =
numbered % to 81 inclusive shall I
mature July 1, 1880; bonds num- O
bered 2S to 80 inclusive shall ma 81
ture July /, 1881; bonds num- y
bered 81 to 33 inclusive shall Il
mature July 1, 1892; bonds Il
numbered "a to 36 inclusive b
hall mature July 1, 1898; bonds
numbered 81 to 40 inclusive shall Il
nature July 1, 1894; bonds num- Ell
,ered Al to A inclusive shall ma II
,ure July /, 1885, bonds numbered OF
Is to 4S inclusive shall mature July ST
|, 1896; bonds numbered 40 to So in OF
.lusive shall mature July 1, 1897; OF
ponds numbered SO to Sc inclusive II
hall mature July 1, 1898; bonds G
nature July 1, 1899; bonds num-
,ered 81 to ga inclusive shall ma u
ure July 1, 1910; bonds numbered al
IS to 6S inclusive shall mature July WI
/, 1941. Being twenty years from
ate of issue. ia
Said Bonds shall be designated
General Improvement Bonds" of the
own of Union City, Tennessee, and
hall be signed by the Mayor and
,ecorder of said town, with interest
oupons attached, which said inter-
st coupons shall bear the fac smile
ignature of said officers; and are
OF to be sold for less than par or Gu
ice value with accrued interest from fo
ate of sale Both principal and in pl,
crest of said bonds shall be payable en-
t the First National Bank of st.
outs, Mo-, in the city of st. Louis,
TO-, or at the office of the City rel
ecorder in Union City, Tennessee, no
the option of the holder. las
Said Bonds shall be in substantial =,
the following form: ""