Private Acts of 1951 Chapter 202

SECTION 1.  That the Paris Special School District in Henry County, Tennessee, as created by Chapter 150 of the 1919 Private Acts of Tennessee, as amended by Chapters 1, 243, and 799 of the 1921 Private Acts of Tennessee, Chapters 14 and 671 of the 1925 Private Acts of Tennessee, and Chapter 740 of the 1929 Private Acts of Tennessee, and validated by Chapter 510 of the 1949 Private Acts of Tennessee, is hereby authorized to borrow money and issue its negotiable bonds therefor in the aggregate principal amount of not exceeding $350,000 for the purpose of acquiring, constructing, reconstructing, improving, and repairing school buildings for said School District, and additions thereto, including the purchase of lands in connection therewith.  Said bonds shall bear interest at a rate of not exceeding four per cent (4%) per annum, payable semiannually, and shall mature serially or otherwise in not exceeding twenty-five (25) years after date thereof and may be subject to such terms of redemption with or without premium as may be provided by resolution or resolutions of the Board of School Trustees of said School District.  Said bonds shall be in such form and of such denominations and shall be sold in such manner at one time or from time to time as the Board of School Trustees may provide by resolution or resolutions, but in no event shall such bonds be sold for less than par.  Said Board of School Trustees 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.

SECTION 2.  That prior to the sale of any bonds under authority of this Act a majority of the qualified voters of the Paris Special School District voting at an election on the special question of issuing such bonds shall approve such bond issue.  Said election shall be held by the Commissioners of Election of Henry County pursuant to request of the Board of School Trustees of said Paris Special School District, and notice thereof shall be given at least twenty (20) days prior to the date of such election by publication one time in a newspaper of general circulation in such District.  No other notice shall be necessary.  It shall not be necessary to submit to the voters any question other than the maximum amount of bonds to be issued and the general purpose therefor.  Any resident citizen of the Paris Special School District who was qualified to vote for members of the General Assembly at the general election next preceding the date of the holding of such bond election, or who is on the date of the holding of such bond election then qualified to vote for members of the General Assembly, shall be entitled to vote at such bond election.  It shall be the duty of the Board of School Trustees of said Paris Special School District to enter upon its minutes the results of such referendum election as certified to said Board by the Secretary of the Commissioners of Election of Henry County, and after the expiration of ten (10) days from the date of such entry, such entry upon the minutes of said Board of School Trustees shall be conclusive evidence of the result of such election and no suit, action, or other proceeding contesting the validity of such election shall be entertained in any of the courts of this State thereafter.

SECTION 3.  That said school bonds shall be signed by the President of the Board of School Trustees and attested by the secretary and Treasurer 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 forty-seven cents (47¢) on each one hundred dollars ($100) worth of taxable property in said Paris Special School District, said tax to continue 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 Henry 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 and parts of laws in conflict herewith be and the same are hereby repealed, and this Act shall take effect from and after its passage, the public welfare requiring it.

Passed:  February 9, 1951.