Bridgeton pioneer., 1885-06-25

III 'Ilctf own huEDe:', eACcpL ia liIc citsc u tne
presiding officer of said township, who shall be
d member Of said board ex oficic; each of the
commissioners shall. withiG thirty days after his
appointment, take and subscribe the oathS oil
olllce prescribed by law for officers of said town.
ship.
B. And be it enacted That it shall be the duty
OF the assessor or assessors of said township, of
lhe receiver of taxes or other proper officer in
preparing the notices of taxes required by law
to ASSESS specify and keep separate and distinct
from other items, the amount assessed for the
payment OF the interest upon the bonded debt of
SAD township; which amount shall be specially
assessed and collected and described as I" inter
est on sinking fund debit the said receiver or
otler proper officer shall keep his accounts of
tAe same in separate and distinct columns, and
shall designate the same specifically in his re-
turns to the township treasurer all proceedings
Ill relation to the collection of the same and of
the arrears thereof, shall in all other respects be
tneSIE@ as those in relation to the other town.
snip taxes; and the said township treasurer
small set apart out of the first moneys received
by said township under the provisions Of the act
entitled AN act for the taxation Of railroads
ana canal property" approved April tenth, one
thousand eight hundred and eighty-four such
sum or sums OF money appropriated by said
township committee to the sinking fund under
the provisions of this act; and said treasurer
Keep an account separately from his other ac-
N''i'topl OIL iIlOLcyS COlIcCltu dllu TeCclNGu DN
hin as principal and interest on account of any
assessments, for which bonds of said township
small have been issued, and which are a charge
upon said sinking fund; and the said treasurer
shall keep his account of all moneys and
revenues specified in this section and in this act
separately from his other accounts, and shall
hold and keep the said moneys and revenues to
the credit of said commissioners, separate and
distinct from the moneys and revenues of said
township. and shall pay over the same to the
sad commissioners of the said sinking fund,
Whenever the same shall be demanded of him by
tiirin or majority of them and all the moneys
ana revenues specified in this act upon the
establishment of said sinking fund as herein pro-
Ndcd, are hereby pledged and appropriated to
the slHking fund OF said township for the pay
ment of tle principal and interest of the bonded
debt 0t said township.
4. And be it enacted, That the said commits
slonelS shall have the entire control and man
agement Of the bonded debt of said township:
they shall pay the interest thereon as it becomes
due; all the surplus moneys that shall come into
their hands above the amount needed to pay the
interest as aforesaid, shall be safely invested by
them an! applied towards the payment of the
prlhcIpa vi the said debt provided however.
til;it such part OF the above debt, which may be
redeemed or purchased by said commissioners
shall be thereupon cancelled by them until the
maturity and final redemption thereof; but all
IIttIcSt SUCH ana call
ctll"d debt shall continue to be regularly assessed
eVied and collected and carried to the credit of
said commissioners as hereinbefore provided;
no part OF the debt shall be purchased or re-
deemed at Il price above the par value thereof;
the said commissioners shall have power to
make such rules and regulations from time to
time respecting the management of said fund,
not inconsistent herewith, as they shall deem
eApedlent; they shall annually make to said
township committee on thp first day Of Decpn.
Der, or at such other time as the said township
committee Shall direct, Il full and detailed re-
port of the state of said fund; in case the said
township committee shall desire to pay any por.
tion Of the bonded debt of said township before
lis maturity, from other funds in their control,
the same shall be done through the said COM
missloners, who shall receive the said moneys
from the township committee and redeem and
c;uce such of said bonds as they may direct,
provided the same can be procured and render
report thereof to the said township committee
b. And be it enacted, That in case said COM
nEsslomerS find, at any time before the maturity
0l the said bonded debt. that the amount OF
III 'EeyS in their hands will enable them to pay
said bonded debt at their maturity, together with
the el!rrGSt thereon, they shall imme diately there
uuou report the SAID facts to said township
committee. who shall thereupon cause to be
LEVIED the tax authorized for the payment of the
interest upon said bonded debt. and shall re-
pctt dii oFulldilceS or reSOluIlOnS, raising any
other moneys for the use OF said sinking fund
AMI the said commissioners shall take such
measures to call in and redeem said bonds as
they may deem eXpedent.
6. And be it enacted, That the said township
committee shall by ordnance or resolution fix
the yearly compensation of said commissioners,
which shall include and cover all the expenses
OF said Office; and shall also, from time to time,
determine the amount i'll which said commits
sonerS shall give bond, and the number OF their
suretles; and the said commissioners, before
entering upon or discharging the duties of their
SAID ollice shall execute bond to the said town
Silll, i'll the corporate name thereof, i'll such an
amount and with such number of Sureties as
aforesaid conditioned for the faithful perform
auce OF all the duties of their said Office Which
bond shall be approved by TIE supreme court OF
this state or any justice thereof.
:. And be ii enacted. That all acts and parts
Of acts, general, public, local or special incon-
sStent with 1hs act, be and the same are hereby
repealed. and that this act shall take effect
Immediately.
Approved April 20. 1885.
CHAPTER CNCIX.
4 SUDOlpmput 10 the NET entitled - 4 SuDOlpmpnt