Grainger County news. (Rutledge, Tenn.) 1917-current, 1921-03-02
State Laws
HOUSE BILL NO. 2s9
CHAPTER rs.
PRIVATE ACTS; 1921.

regular or special session thereof to
issue nterest-bearing coupon bonds
of said County in the amount of Two
Hundred Thousand Dollars for the
purpose of constructing and macad- !,
amizing roads in said County; to pro-
vide for the payment of other inter-
est on said bonds and to create a sink
ing fund to pay off said bonds when
due; to provide for the sale of said
bonds and for the appointment of
commissioners to carry out the provi-
sions of this Act.
Section l. Be 1t Enacted by the
General Assembly of the State of
Tennessee, That the county of Grain
ger, in the State of Tennes-
see, by and through its Quarterly
County Court, at any regular or call
ed session a quorum of the Justices
of the Peace being present and a
majority of the Court voting there
for, is hereby authorized and en-
powered to issue Understanding
coupon bonds of said county in the
amount of Two Hundred Thousand
(S2,OOO.O0) Dollars, the proceeds
arising from the sale thereof to be
used in constructing and macadam-
izing roads in said County.
Section 2. Be 1t Further Enacted,
That said bonds shall bear interest
at the rate of six per cent per an
mum, payable semi-annually on the
first day of April and October of
each year, the interest to be repre-
sented by coupons attached to said
bonds and the bonds TO become due
and payable as follows: Fifty Thou:
sand ($5O,OO0.OO) Dollars shall be-
come due and payable in ten years
from date of issuance: Fifty Thous
and ($5O,OOO.OO) Dollars shall be
come due and payable in twenty
years from date of issuance, ant
One Hundred Thousand ($1OO,
0OO.00) shall become due and pay
able in thirty years from date of is
suance.
Said bonds shall be issued in de
nominations of One Thousand Dol
lars each, and shall be numbered il
the order of their issuance beginning
with one.
Section 8. Be 1t Further Enacted
That each of said bonds shall b
signed by the Judge or Chairman o
the County Court and countersigne
by the Clerk thereof with the cfficis
seal of the Clerk attached theret'
and said bonds shall have attache
to them coupons for the semi-annu,
interest upon the same for each G
the years they are to run, showing o
their face the number and amount {
bond to which they are attached, tt
amount of each semi-annual install
ment of interest on said bond, ar
when the same shall become du
Which coupons shall be signed in tt
same manner as said bonds, exec
the seal of the County Court Clel
need not be. affixed thereto, and Il
signature of the County Judge
Chairman of the County Court al
the Clerk of the County Court mi
be autographed on said coupons.
Section 4. Be 1t Further Enacte
That it shall be the duty of the sa
Quarterly Court to levy a suffice
tax, annually on all the taxable pro
erty of said County to pay the sen
annual interest on said bonds, al
also for the purpose of creating
sinking fund to pay off and reti
said bonds as they become due. T
County Trustee shall collect and 6
count for said tax which shall
held by him as a separate fund, a.
receive the same compensation he !
ceives for collecting other Coun
taxes, and shall give an addition
bond for the faithful performance
MS duty In collecting and account
for said funds.
Said bonds and coupons shall
payable at such place as the pl
chaser may desire out of the fur
collected for that purpose, and S;
funds. shall in no case be applied
any purpose.
Section 5. Be 1t Further Enact
That for the purpose of carrying {
the provisions of this Act S.
Roach, w. G. Corum, and w. J. H,
son are, hereby appointed and c,
stituted the commissioners who sh
have charge, of the work of impr
ing the public roads of said cou
hereinafter provided for, the sale