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 SIXTY.
FOUR THOUSAND DOLLARS
($64,0O0.00) for the purpose OF
providing means to pay that por-
tion of the cost of certain street
improvements not chargeable to
the municipality of said town OF
Union City proper, being two
thirds part of the cost as esti-
mated by the Board of Mayor and
Aldermen of said town for improv-
ing First street from Harrison
street to Main street; Main street
from First street to Ury street, and
Ury street from Mill street to
Cheatham street in the town of
Union City, Tennessee, under
Street Improvement Ordinances
Nos. 1, and of said town, and
passed and adopted under the au-
thority of Chapter Is of the Acts
of the first extra session of the
General Assembly of the State Of
Tennessee for the yeas 1913, and
amendments thereto. without the
tion of the issuance thereof to a
vote of the qualified voters of said
town; and to authorize said town
to levy an additional ad valorem
tax to pay said bonds, or any part
of same, and interest, if necessary.
Section l. 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 Is of the
Public Acts of the General AS
sembly of the first extra session
of 1913, passed September 10, 1913,
and approved September rs, 1918,
and amendments thereto, there shall
be issued by the town of Union City,
in Obion County, Tennessee, IN
tereset-bearing serial coupon bonds,
signed by the Recorder of said town;
and to bear the corporate seal of
said town, in the sum of Sixty-Four
Thousand Dollars, ($64,000.00) the
coupons to bear the fac smile sig
nature of said officers, the proceeds
of the sale of said Bonds to be used
exclusively for the purpose of pro-
viding means to pay that portion of
the cost of street improvements not
chargeable to the municipality of
said town of Union City proper, but
chargeable to the abutting property
owners, being two-thirds part of the
cost of said improvements as esti-
mated by the Board of Mayor and
Aldermen of said town for improving
First street from Harrison street to
Main street; Main street from First
street to Ury street, and TRY street
from Mill street to Cheatham street,
in the town of Union City, Tennessee,
under Street improvement Ordi-
nances Nos. /, 2 and 8, duly passed |
and adopted, and confirmed June Z,
1921.
Section g. Be it further ordained |
that the bonds provided for in the
first section of this ordinance shall |
be issued and sold without first sub
the question of the issuance
thereof to a vote of the qualified |
voters of the town of Union City,
Tennessee.
Section 8. Be it further ordained
that the bonds provided for in the
first section of this ordinance shall
be in the denomination of FIVE
DOLLARS each, and
shall be numbered consecutively from
Zone" to zone Hundred and Twenty
Eight" inclusive, and shall bear in
terest at the rate of six per .centum
per annum, interest payable semi
annually with interest coupons at
tached.
Said Bonds shall be dated the first
lay of July, 1921, and shall mature
N series as follows:
Bonds numbered from one to
.welve shall mature July 1, 1922;
Bonds numbered from twelve to h
shall mature July 1, II
1928; Is
Bonds numbered from twenty-four (
o thirty-seven shall mature July 1,
924;
Bonds numbered from thirty i
O fifty shall mature July l, 1925; {
Bonds numbered from fifty to six
y-three shall mature July /, 1926;
Bonds numbered from sixty-three !:
o seventy-six shall mature July 1, j:
927; !:
DOuuo liOnu oOFOhtJ !:
0 eighty-nine shall mature July /, /:
928; !:
Bonds numbered from eighty-nine /:
D one hundred and two shall ma /;
IRE July l., 1929; i:
Bonds numbered from one hundred i:
nd two to one hundred and fifteen If
hall mature July 1, 1880; II
Bonds numbered from one hun fl:
red and fifteen to one hundred and 4:
shall mature July 1, 4:
931, being ten years from date of 4;
sue II:
Said Bonds shall be designated Il;
Public Improvement Bonds of the n:
'wn of Union City, Tennessee" and If:
TALL not be sold for less than par or "A:
zee value with accrued interest from II
ate of sale. II:
Said Bonds shall be in substantial ST:
the following form: H:
UNITED STATES OF AMERICA \:
STATE OF TENNESSEE =
TOWN OF UNION CITY.
PUBLIC IMPROVEMENT BOND
)F THE TOWN OF UNION CITY,