Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1885-06-11

1u1c-
l. Be it enacted by the Senate and General Assem-
bly, OF the State OF New Jersey, That the township
committee or other governing body, by whatever
Is hereby authorized to appropriate by ordinance or
desoluson d sneh sum or sums Of money az they may
IN pursuance OF the provisions OF act entitled An
act for the taxation OF railroads and canal property"
approved April tenth, one thousand eight hundred
and eighty -four, to constitute sinking fund for the
legations lawfully issued and now outstanding, and
for the payment Of which said township is lawfully
resolution by said township committee, the
Or Or sum Of sums q money 50 appropriated shall not
said obligations shall have been paid until there
obligations to which said sinking fund was pledged
And be It enacted That after the passage Of said
the presiding officer OF said township committee and
the two resident freeholders to be chosen BY said
presiding oeer shall eonstitdte and be denomi
mated the commissioners Of the sinking fund OF the
have power to l such Tacancies a. NAV occur from
Of the presiding oficer OF said township who shall
be member of said board exof1eio; each OF the
poiitment, take and subscribe the oaths of ONCE
prescribed by law for Officers OF said township.
the assessor Or assessors of said township, q the
receiver Of taxes Or other proper officer in preparing
and keep separate and distinct from other itens the
the bonded debt 81 said township; which anouHt
shall be specially assessed and collected and de-
receiver Or other proper keep his accounts
Of the same In separate and distinct columns, and
the township treasurer; all proceedings In relation to
the collection Of the same and OF the arrears thereof
shall IN all other respects be the those In
lation TO the other township and the said town
received hy said township under the proTsISns Of
an act entitled AN set for the taxation OF railroads
thousand eight hundred and eighty foar ss such sum @
or sums OF money appropriated by said township
Of thisact ana said treasurer shall keep an account
separate5y q from his other accounts of al moneys
est on account OF any assessments for which bonds
charge upon said sinking fund; and the said
treasurer shall Keep his account Of all moneys and
separately from his other accounts and shall hold
and keep the said moneys and revenues to the credit
moneys and revenues of said township, aud shall
psg oEer ne same g the said q q ne
nanded OF him BY them or majority or rhem and
the establishment Of said sinking fund herein pro
vluea, are hereby pledged and appropriated to the
and nterestof the bonded debt said town
4 And be it enacted, That the said commissioners
shall have the entire control and of the
o Ssgs 9f @ saa f SssgP they sf al & pay the In
moneys that shall come into their hands above the
be safely by e and e
payment OF the principal Of the said debit provided
may be redeemed or purchased BY said commission
ers shall be thereupon cancelled by them until the
interest accruing such redeemed and cancelled
uept snail e0ntue 70 De regularly assessed, levied
missoners as herenbef0re provided; no part or the
debt shall be purchased redeemed at price above
have power to make such rules and regulations from
time 70 time respecting the management OF said
fund. not inconsistent Herewith as they shall deem
ship committed the first day OF December. or at
such other time as the said township committee
shall direct fun and detailed report Of the state OF
said fund; In case the said township committee shall
desire to any portion OF the bonded debt Of said
township before it's maturity, from other funds In
commissioners, who shall receive the said moneys
roU the township committee and redeem and
gel such OF said bonds as they may direct provided
OF to the said township committee
g. And be it enacted. That in said commission
bonded debt, that the amount Of moneys in their
their maturity Together with tho Interest thereon
facts to said township committee who shall there
upon cause to be levied the authorized for the
payment of The interest upon said bonded debt AID
other moneys for the or said sinking fund; and
the said commissioners shall take such measures to
call II and redeem said bonds ns they may deem ex
s. And be Ii enacted. That the said township com
mittee shall BY ordlnance or x the yearly
compensation of said commissioners which shall In
cude and cover an the expenses of said oiice; and
shall also from time to tinie deterrntne The amount
IN which said c0mnliHs OneFs shall give bond. and the
before entering upon Or dlschareing the duties Of
their said ofee. shall execute bond 70 the said town
ship. IL the corporate name thereof, in such
said for the faithful performance Of all
the duties or their said 07Iice which bond shall be
apRroyeq ~ ne supreme court OF this state Or any
Z And bs enacted That ali acts and parts Of acts.
general, public local Or special ineonslstent with
that this act shall lsHe eiIect ifomedl6faI5.
Approved April ~ 1891