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PDF versionSECTION 1. The Tenth School District of Wilson County, Tennessee, created by
Chapter 330 of the Private Acts of 1901, of the State of Tennessee, as amended, and located in
Wilson County, Tennessee, the caption of which private act reads as follows:
"AN ACT to incorporate the Tenth Civil District of Wilson County, Tennessee, into the
Tenth School District of said county, for public school purposes",
is hereby authorized and empowered to issue and sell interest bearing bonds to mature at a date
or dates not to exceed thirty (30) years after the date of issuance of said bonds, and in an amount
not to exceed two million five hundred thousand dollars ($2,500,000).
SECTION 2. Before any of said bonds are issued and sold by said District, the Board of
Commissioners of the District may call an election to be held in said District by the Board of
Election Commissioners of said county upon such date as may be fixed by said election
commissioners, in which all of the qualified voters of said District shall have the right to vote;
and there shall be placed upon the ballot used in said election, the words, "for the issuance of
bonds", and the words, "against the issuance of bonds", so that the voters in said election shall
vote for or against the issuance of said bonds as they may desire, and it shall be the duty of the
Wilson County Board of Election Commissioners to call, open, and hold said election upon a
resolution adopted by the Board of Commissioners of said District and filed with the said County
Board of Elections; provided however, that nothing in this act shall prevent another election
being held under this act in the case the first or any other election held as herein provided should
result in the majority vote against the issuance of said bonds, so long as one hundred eighty (180)
days shall have elapsed following the first of such prior election. It shall be the duty of the
election commissioners of said county to call another election upon all of the same terms and
conditions as hereinabove provided for a first such election.
SECTION 3. In an election, held under this act, in which a majority of the voters voting
in said election vote for the issuance of said bonds, it shall be the duty of the District's Board of
Commissioners to issue and sell said interest bearing bonds, and that said bonds shall be in such
denominations as shall be determined by the District's Board of Commissioners, issued in
registered form without coupons, and bear interest at a rate or rates not to exceed eleven percent
(11%) per annum, payable semiannually.
SECTION 4. None of said bonds shall be sold for less than par, and the tax of fifty cents
(50¢) on each one hundred dollars ($100) worth of property, real and personal, levied by
authority of Chapter 59 of the Private Acts of 1951 of the State of Tennessee, shall continue to
be levied at the same rate of fifty cents (50¢) on each one hundred dollars ($100) worth of
property, real and personal, so long as any of the herein authorized bonds shall remain
outstanding and unpaid. Said taxes shall continue to be collected by the Trustee of the county, as
other taxes are collected by him, and kept in a separate account from all other funds belonging to
said District to be used for the purpose of paying principal of and interest on said bonds as they
come due and for the purpose of building new school buildings, adding to, repairing, improving,
enlarging and equipping school buildings and properties of said District as the Board of
Commissioners of said District shall deem necessary and proper, including the purchase of any
necessary real estate or interests in real estate, and the development of same for school purposes.
SECTION 5. The proceeds from the sale of said bonds shall be used exclusively for the
purpose of building new District school buildings, adding to, repairing, improving, enlarging and
equipping the school buildings within said school District as the Board of Commissioners of said
District shall deem necessary and proper, including the purchase of any necessary real estate or
interests in real estate, and the development of same for school purposes.
SECTION 6. The bonds shall be in fully registered form and shall be signed and sealed
as provided in the Tennessee Public Obligations Registration Act and in the resolution adopted
by the District's Board of Commissioners authorizing said bonds.
SECTION 7. If any provision(s) of this act or the application thereof shall be invalid or
unenforceable to any extent, the remainder of this act and the application of such provisions shall
not be affected thereby and shall be enforced to the greatest extent permitted by law.
SECTION 8. This act shall take effect upon becoming a law, the public welfare requiring
it.
Passed: April 9, 1986.