Private Acts of 1985 Chapter 68

SECTION 1. The Franklin Special School District, Williamson County, Tennessee,
created by Chapter 563 of the Private Acts of 1949, is hereby authorized to borrow money and
issue its bonds therefor in the aggregate principal amount of not exceeding three million nine
hundred thousand dollars ($3,900,000) for the purpose of acquiring, constructing, improving,
repairing and equipping schools and additions thereto for said school district, and acquiring all
property, real and personal, appurtenant thereto or connected with such work. Said bonds shall
bear interest at a rate or rates not exceeding twelve percent (12%) per annum, payable annually
or semi-annually, and shall mature serially or otherwise in not exceeding twenty-five (25) years
after the date thereof, as may be provided by resolution of the Board of Education of said school
district. Said bonds shall be in such form and of such denominations, may be made subject to
redemption prior to maturity, with or without premium, and shall be sold as a whole or in part
from time to time in such manner as the Board of Education shall provide by resolution, but in
no event shall such bonds be sold for less than par value plus accrued interest. The Board of
Education is authorized and empowered to do and perform all acts and enter into all agreements
which may be necessary or desirable in connection with the issuance and sale of said bonds. No
election shall be necessary for the authorization of said bonds and the provisions of Section 9 of
Chapter 563 of the 1949 Private Acts of Tennessee shall not be applicable to the bonds issued
hereunder. The bonds shall be signed by the Chairman of said Board of Education and attested
by the Secretary of said Board in such manner as the Board of Education shall provide by
resolution.
SECTION 2. For the purpose of paying the principal of and interest and any redemption
premiums on the school bonds herein authorized, there is hereby levied a continuing annual tax
of ninety-five cents ($.95) on each one hundred dollars ($100.00) worth of taxable property in
said Franklin Special School District, beginning with the year 1985 and continuing until the
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 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. This Act shall take effect upon becoming a law, the public welfare
requiring it.
Passed: May 8, 1985.