Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1884-05-22
Oak Hall.
CHAPTER XXI.

An act to authorize the boards of chosen free
holders in the respective counties of this state
to renew matcred and maturing bonds.
l. Be it enacted by the Senats and GEN
eral Assembly of the State of New Jersey,
That whenever any bonds, heretofore legally
issued by the board of chosen freeholders OF
any county in this state, under the authority Of
law are now due or unpaid, or shall
mature and become due within two years from
tn date of the passage OF this act the board of
chosen freeholders Of any such county may re-
new the whole or any part Of said bonds, as to
said board of chosen freeholders may seem to
the best interest of any such county, by is
suing bonds for that purpose, in the corporate
name and under the corporate seal of any such
county, signed by the director Of any such
board and the county collector of such county,
which bonds shall be made payable at periods
Of time not exceeding twenty years from the
late of issuing the same, and shall draw
such rate Of interest not exceeding six per cent
um per annum said board shall deterrnin.,
payable semi-annually, and shall be issued in
.uch sums, not less than one hundred dollars
and not more than one thousand dollars,
said board. by resolu ion, shall determine,
and which bonds shall be made payable, both
principal and interest at the office Of the coun-
ty collector of such county; sa d bonds shall
except as hereinafter provided, have coupons
attached for each half years interest, until due,
and which coupons shall BE- signe by the col
lector of such county and numbered to cores
pond with the bond to which they shall be at
tached; provided, that the same bonds may be
either coupon or registered bonds, and the coun-
ty collector shall number and register said
bonds, and the may be exchanged
coupon bonds for registered bonds and regis
tered bonds for coupon bonds-at the request
Of the holder thereof; provided, that the board
Of chosen freeholders shall consent to such ex-
change; and all bonds issued under this act
shall be numbered, and "A register of the num-
Der, denomination, date of issuing, and name
OF person to whom issued. if registered, md
time of payment, shall be made by the county
collector in a book to be provided by said board
for that purpose; which bonds may be sold by
the board of chosen freeholders of such county,
upon the orders and resolutions thereof, at pub
lie sale, to the highest bidder, after notice Of
such sales shall have been duly advertised
for at least two weeks in at least two news
papers published and circulated IN said county,
and having the largest circulation therein; pro-
vided the same shall in no case be sold at less
than par, and all the real estate and property
within the county shall be liable for the pay
ment of the principal and interest that may be-
come due on the bonds to be issued by viItue
of this act.
2. And be it enacted, That the said board
Of chosen freeholdcrs sha each year place in
the tax levy for such county, for such year, so
long as such bonds or any of them shall run,
sufficient sum to pay all interest on said bonds
during such year, and also a sufficient sum to
pay the principal Of said bonds falling due
within the year, the snme to be levied and
raised in the same manner as other county
taxes are levied and rnised.
8. And be it enacted, That this act shall
take effect Immediately.
Approved February 27, 1884.