The commercial. (Union City, Tenn.) 190?-193?, 1921-05-20
Refunding Bond Issue Ordinance.

1
An Ordinance to issue and sell in.
terest-bearing coupon Bonds of The
town of Union City, Tennessee, il
the sum of THIRTY THOUSAND
Dollars ($30,000.0O) for the pur,
pose of refunding and retiring
Thirty Thousand Dollars of thirty,
year six per cent Improvement
Bonds, dated September LIST, 1891
and issued under authority OF
Chapter 220 of the Acts of 1891
of the General Assembly of the
State of Tennessee, without the
necessity of submitting the ques
tion of the issuance thereof to q
vote of the qualified voters of said
town; and to authorize said town
to levy a special tax to create a
sinking fund for the payment OF
the bonds issued under this Act
AMI the interest thereon.
Section /. Be it ordained by the
Board of Mayor and Aldermen OF
Union City, Tennessee, that, pur-
suant to the power and authority
given by the General Assembly of
the State of Tennessee, by Chapter
TO of the Private Acts of said Gen
eral Assembly, passed April 18th,
1921, and approved April 18th, 1921,
there shall be issued by the town of
Union City, Tennessee, interest-bear-
ing coupon bonds, to be signed by
the Mayor and signed by the Record
er of said town, the coupons to bear
the signature of said officers, of said
town, and under the corporate seal
of said town, in the sum of Thirty
Thousand Dollars, the proceeds of
the sale of said bonds to be used ex-
clusively for the purpose of refund
ing and retiring Thirty Thousand
Dollars of thirty-year 6 per cent
bonds of said town, dated September
| list, 1891, and issued under the au-
thority of Chapter 22O of the Acts
of 1891 of the General Assembly of
the State of Tennessee, and which
are now outstanding and will ma
ture September LIST, 1921.
SectionS2. Be it further ordained
that the bonds provided for in the
first Section of this ordinance shall
be issued and sold without first sub
hitting 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 issued pursuant to the
first section of this Ordinance shall
be of the denomination of 100000
each, and shall bear interest at the
rate of six per cent per annum, pay
able semi-annually; and said bonds
so issued shall mature and become
payable on the first day of Septem
Der, 1851, at the First National
Bank of st. Louis, in the city of st.
| Louis, Missouri, in lawful money of
the United States of America; and
| likewise the interest on said bonds
shall be paid semi-annually at said
First National Bank of st. Louis, in
the city of st. Louis, Mo-, in lawful
money of the United States of Amer
icc, the first interest coupons falling
due March LIST, 1922, and successive
ly thereafter on the first day of Sep
TENDER and March.
Said bonds shall be substantially
the following form:
UNITED STATES OF AMERICA,
STATE OF TENNESSEE,
COUNTY OF OBION,
TOWN OF UNION CITY,
SIX PER CENT REFUNDING
BONDS.
No. $1,000. 90
Know All Men by These Presents:
That the town of Union City,
Obion County, Tennessee, acknowl-
edges itself to owe and for value re-
ceived hereby promises to pay to
bearer upon the first day of Septem-
Der, 1851, the sum of ONE THOU
SAND DOLLARS, in lawful money of
the United States of America, with
interest thereon at the rate of six
pei cent C per cent? per an
mum, payable semi-annually up
Oh TIE first day of March
and September of each year, until
the payment of the principal hereof,
upon presentation and surrender of
the proper coupons therefor hereto
attached. Both principal anL inter-
est hereof are payable at the First
National Bank of st. Louis, in the
city of st. Louis, Missouri.
This Bond is one of a series of
bonds constituting an issuance of
thirty bonds of like denomination,
tenor and effect, numbered consecu-
lively from one to- thirty, both in
elusive, aggregating Thirty Thou
sand Dollars ($30, 000.00)in amount,
and is issued under the authority of
Chapter TO of the Private Acts of
the General Assembly of the State of
Tennessee, passed April 5th, 1921,
and approved April 7th, 1921; and
by virtue of an Ordinance duly
passed by the Board of Mayor and
Aldermen of Union City, Tennessee,
pursuant to said Act of said Geaeral
Assembly, the said Act expressly pro-
viding that said Bonds may be issued
and sold by the Mayor and Aldermen
of Uunion City, Tennessee, without
first submitting the question of the
issuance thereof to vote of the quail
flied voters of said town.
This bond and the coupons for in
terest attached hereto, are not sub
ject to be assessed or taxed by the |
State of Tennessee, or any County or
Municipality of this State.
1t is hereby certified and recited |
that all acts, conditions and things |
required by law to be done precedent |
to and in the issuance hereof, in or
der to make this bond legal, valid |
and binding obligation of the town |
of Union City, Obion County, Ten
nessee, have been done, hcve |
happened and been perform |