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Senate Bill 781

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  • SENATE BILL No. 781 (By Atkins, Butler of Johnson, Butler of Macon, Graves, Hill, Moody, Remine) An Act to Amend Chapter 55 of the Public Acts for 1925 Entitled: "An Act to Provide for the Acquisition by Gift, Purchase or Otherwise, and the Control and Regulation of Properties for Park and Forestry Purposes; to Create and Establish a Commission to be Known as The Tennessee State Park and Forestry Commission; to Define its Powers, Rights and Duties", and also to Amend Section 57 of the Public Acts of 1925 entitled: "An Act Authorizing the Purchase of Lands of the Little River Lumber Company Lying Wholly Within the State of Tennessee in the Counties of Blount and Sevier, and Estimated to Contain About 76,507 Acres, in the Smoky Mountains of East Tennessee, on Condition that the People of Knoxville and Vicinity, or the City of Knoxville or the County of Knox, in the State of Tennessee, Will Contribute One-Third (1/3) of the Purchase Price or Consideration Therefor, and, Upon Their Agreement so to do, and Upon Other Conditions, to Authorize the Governor and Attorney General of the State of Tennessee to Consummate Said Purchase Under Certain Conditions Set Forth in an Option Granted to the State of Tennessee of Said Property by the Little River Lumber Company, and Fully Stated in the Body of This Act, and to Appropriate Out of the Treasury of the State of Tennessee the Sum of $22,- 500.00 as the Cash Payment and the Sum of $22,500.00 per Year for Nineteen (19) Years, all Including the One-Third (1/3) Thereof to be so Contributed by the People of Knoxville, and Vicinity, the City of Knoxville or the County of Knox, Subject to the Privilege Retained by the State to Discharge All of the Said Deferred Payments at a Discount Rate of Six (6%) per cent per Annum at Compound Interest; and to Provide for the Issuance of the Promissory Notes of the State of Tennessee for Said Deferred Payments, as is More Fully Stated in the Body of This Act"; and to Create a
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