Private Acts of 1951 Chapter 303

SECTION 1. That Franklin Special School District in Williamson County, Tennessee, as
created by Chapter 563 of the 1949 Private Acts of Tennessee is hereby found and declared to be
a validly organized and existing School District of the State of Tennessee.
SECTION 2. That Franklin Special School District is hereby authorized to borrow
money and issue its negotiable bonds therefor in the aggregate principal amount of not exceeding
Four Hundred Thousand ($400,000.00) Dollars for the purpose of constructing, improving, and
equipping school buildings and additions thereto, for said School District, together with the
purchase of necessary sites in connection therewith. Said bonds shall bear interest at a rate of not
exceeding three and one-half per cent (3½%) per annum, payable semi-annually, and shall
mature serially or otherwise in not exceeding thirty (30) years after date thereof, and may be
subject to such terms of redemption with or without premium as may be provided by resolution
of the Board of Education of said School District. Said bonds shall be in such form and of such
denominations and shall be sold in such manner as the Board of Education may provide by
resolution, but in no event shall such bonds be sold for less than par. Said Board of Education is
authorized and empowered to do and perform all acts which may be necessary or desirable in
connection with the issuance and sale of said bonds. No election shall be necessary for the
authorization of said bonds. The provisions of Section 9 of said Chapter 563 of the 1949 Private
Acts of Tennessee shall not be applicable to the bonds authorized hereunder.
SECTION 3. That said school bonds shall be signed by the Chairman of the Board of
Education and attested by the Secretary of said Board, and the coupons on said bonds shall be
signed by the facsimile signatures of said officials.
SECTION 4. That for the purpose of paying the principal of and interest on the school
bonds herein authorized there is hereby levied a continuing annual tax of seventy-five cents (75¢)
on each One Hundred ($100.00) Dollars worth of taxable property in said Franklin Special
School District, beginning with the year 1951 and continuing until said bonds have been paid in
full as to both principal and interest. Said taxes shall be annually extended and collected by the
County Officials of Williamson County in the manner provided by the general law for the
extension and collection of county taxes and shall constitute a lien on the property against which
they are levied with like force and effect as do county taxes. The proceeds of said taxes, as
collected, shall be placed in a special fund and shall be used solely for the purpose of paying
principal of and interest on the school bonds herein authorized.
SECTION 5. That the bonds herein authorized shall be exempt from all state, county,
and municipal taxation within the State of Tennessee.
SECTION 6. That all laws or parts of laws in conflict herewith be and the same are
hereby repealed, and that this Act shall take effect from and after its passage, the public welfare
requiring it.
Passed: February 28, 1951.