Private Acts of 1959 Chapter 59

SECTION 1. That Franklin Special School District, 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
Five Hundred Thousand Dollars ($500,000) 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 exceeding five per cent (5%) per annum, payable annually or semi-annually, and shall
mature serially or otherwise in not exceeding thirty (30) years after date thereof 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, 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 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 with the facsimile signatures 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 cents (75¢)
on each One Hundred Dollars ($100.00) worth of taxable property in said Franklin Special
School District, beginning with the year 1959 and continuing until said bonds shall 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 or paying
principal of and interest and redemption premiums 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, and this Act shall take effect from and after its passage, the public
welfare requiring it.
Passed: February 17, 1959.