Private Acts of 1983 Chapter 31

SECTION 1. The Franklin Special School District, created by Chapter 563 of the Private
Acts of 1949, is hereby authorized to borrow money and issue its bonds in the aggregate
principal amount of not more than three million seventy thousand dollars ($3,070,000.00) for the
purpose of acquiring, constructing, improving, repairing and equipping schools and additional
thereto for the school district, and acquiring all property, real and personal, appurtenant thereto
or connected with such work. The bonds shall bear interest at a rate or rates not exceeding
thirteen percent (13%) per annum, payable annually or semi-annually, and shall mature serially
or otherwise in not exceeding twenty-five (25) years after the date thereof, as may be provided
by resolution of the Board of Education of such school district. The bonds shall be in such form
including coupon or registered form and of such denominations, may be made subject to
redemption prior to maturity, with or without premium, and shall be sold as a whole or in part
from time to time in such manner as the Board of Education shall provide by resolution, but in
no event shall such bonds be sold for less than par value plus accrued interest. The Board of
Education is authorized and empowered to do and perform all acts and enter into all agreements
which may be necessary or desirable in connection with the issuance and sale of said bonds.
The bonds shall be signed by the Chairman of the Board of Education and attested by the
Secretary of the Board, and if said bonds are issued in coupon form, the coupons attached thereto
shall be signed with the signatures of these officials, all as the Board of Education shall provide
by resolution.
The provisions of Section 9 of Chapter 563 of the Private Acts of 1949 shall be
applicable to bonds issued hereunder.
SECTION 2. For the purpose of paying the principal of and interest and any redemption
premiums on the school bonds herein authorized, there is hereby levied a continuing annual tax
of sixty-five cents ($.65) on each one hundred dollars ($100.00) worth of taxable property in the
Franklin Special School District, beginning with the year 1983 and continuing until the bonds
shall have been paid in full as to both principal and interest. The 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 these taxes, as collected, shall be placed in a special fund and shall be used solely for
the purpose of paying principal of and interest, and any redemption premiums, on the school
bonds herein authorized.
SECTION 3. The bonds herein authorized shall be exempt from all state, county and
municipal taxation in the State of Tennessee.
SECTION 4. If any one or more provisions of this act or the application thereof to any
person or circumstance shall ever be held by any court of competent jurisdiction to be invalid,
the remaining provisions hereof and the application thereof to persons or circumstances other
than those to which it is held to be invalid shall not be affected thereby and to this end the
provisions of this act are declared to be severable.
SECTION 5. All laws or parts thereof in conflict herewith are to the extent of such
conflict hereby repealed.
SECTION 6. The Election Commission of Williamson County is authorized to call an
election within the boundaries of the Franklin Special School District at the request of the
district's Board of Education in accordance with the provisions of Section 1 of this act and
Section 9 of Chapter 563 of the Private Acts of 1949.
SECTION 7. This act shall take effect upon becoming a law, the public welfare requiring
it, and the bonds provided for herein may be issued upon approval as provided for in Sections 1
and 6 of this act.
Passed: March 9, 1983.