Private Acts of 1957 Chapter 65

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 authorized to borrow
money and issue its negotiable bonds therefor in the aggregate principal amount of not exceeding
Four Hundred Thousand ($400,000) 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 or
rates not exceed five percent (5%) per annum, payable semi-annually, and shall mature serially
or otherwise not exceeding thirty (30) years after date thereof, and 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 and accrued interest. The
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, and the provisions of Section 9 of Chapter 563
of the 1949 Private Acts of Tennessee shall not be applicable to bonds issued hereunder. Said
bonds shall be signed by the chairman of the Board of Education and attested by the secretary of
said board, and the coupons attached thereto shall be signed by the facsimile signature of said
officials.
SECTION 2. 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 (75¢)
cents on the each One Hundred ($100.00) Dollars worth of taxable property in said Franklin
Special School District, beginning with the year 1957 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 3. That the bonds herein authorized shall be exempt from all state, county and
municipal taxation in the State of Tennessee.
SECTION 4. That 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.
SECTION 5. That all laws or parts thereof in conflict herewith are to the extent of such
conflict hereby repealed.
SECTION 6. That this Act shall become effective only upon approval thereof by a twothirds
vote of the Board of Education of said district, such approval to be evidenced by a
resolution adopted by not less than two-thirds of said board.
Passed: February 19, 1957.