The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-08-27
CCXXIX.

CHAPTER CCXXIX.
An act for the grading, curbing. tagglng
and paving of streets in cities OF the third
class.
l, Be it enacted by the Senate and Gen
eral Assembly of the State OF New Jersey,
That in all the cities of the third class IL
shall be lawful to make improvements OF
streets, and to pay for the same by general
tax: and the council or other governing
body of any city of the third class having
authority.to improve streets, shall recide Dy
resolution or ordinance how any ST. eet I'M
provement shall be made, and shall decloe
how each street shall be paved.
2. And be it enacted. That in each year
after the passage of this act the council or
other governing body at some convenient
time during the fiscal year, shall fix the
amount which said city will expend for street
improvements during the next fiscal year, to
be raised by general tax. and the said
amount shall be placed in the tax levy of the
next fiscal year, by the board having the
right to fix the tax levy for said city, or it
shall be lawful for said council or other gov
erning body to issue bonds of said city. said
bonds to be issued by the board having au-
thority to issue bonds in said city in pay
ment for street improvements.
3. And be it enacted, That all bonds is
sued BY any city of the third class for any
and all street improvements shall nave
twenty wears to run aud bear interest at a
rate not to exceed six per centum per an
mum. said interest to be paid semi annually,
and said bonds to be either registered or cou-
pom OF such denomination as the council or
other governing body shall by resolution di-
rect: and that as soon as any bonds are Is
sued under this act a sinking u shall be
started for their redemption: and IN said
cities of the third class, where no sinking
fund commission is in existence, the
mayor, city treasurer and city
clerk. ex-oficio, shall constitute a
sinking fund commission under this act, and
shall have power to invest moneys raised
under this act in such Securietles as they
NAV elect, aud hold the same fer the redemp--
ton of the bonds issued under this act, ana
to redeem said bonds as they shall fall due;
and said sinking fund commissioners snal
cause each year al amount equal to one,
twentieth OF all the outstanding bonds, ana
the annual interest on all outstanding bonds
tobe placed in each years tax levy and 1t shall
be the duty of the board in said city having
the right to fix the tax levy. to place SAID
amount in the tax levy of the next fiscal
wear: provided, always, that if, at the ex-
piration of the time for the REDEMPTION of
any of the bonds issued under this act. the
sinking fund commission shall not have
sufficient funds on hand to redeem said
bonds, and no adequate provision has been
made for redeeming the same by the general
tax levy, it shall be lawful for the
board of said city having authority to
make the annual tax levy to issue temper
ary loan bonds to redeem. such maturing
bonds for such length OF time as said board
shall elect, and to redeem said bonds aud the
interest thereon by future levies of taxes to
paw the same; and that all bonds issued un-
der this act shall be signed by the mayor n
city clerk, and lave the corporate seal OF the
- - 4l~ ~ me HvaA RI SQid hnndG
q l. And be it enacted, That before any
bonds can be issued under the provisions
of this act, that the oun OF governing
board shall submit by resolution the pues,
ton whether or not bonds shai! pc lsSue9
to the electors of such city OF the third
class, at either a special election TO pc
called by such council or governing ooard.
or at hte annuol charter election, OF such
of election shall be conducted in the nan.
ner that the mi charter election. OF
the city is now conducted in sucn city,
that the elector desiring to vote for the
issuing of bonds shall cast a ballot with
the words for bonds to be issued Ior
street improvements" and any eiector
desiring the contrary shall cast a ballot
with the words against bonds to pc
issued for street improvements" and II
the result of said election is in fovor OF
issuing such bonds, then such council or
class shall be authorized to issue the
bonds in accordance with the provisions
of this act.
5. And be it enacted, THAI the council
or other governing board shall have the
right to decide which streets or parts of
streets Shall be improved first, and such
improvements shall be made from time
to time so as to best promote the general
welfare of all the Inhabitants of said
city.
G. And be it enacted, That it shall be
lawful for any board having the right to
fix the tax levy in n city of the third
class, in order to carry on any street i'm
rrovement and pay for the work done
thereon, up to the time when the proceeds
from the tax levy or sale of bonds will
provide for the payment of the same, to
issue Improvement certificates at a rate
of interest not to exceed six per centum
per annum for such length of time as
said board shall elect, and to pay and re-
tire said improvement certificates out of
the money raised by tax or sale of bonds
to pay for said street improvements, and
the mayor of the city and the city clerk
shall sign said Improvement certificates,
and the city clerk shall affiX the corporate
seal thereto.
Z. And be it enacted, That the bonds is
sued under this act shall never exceed
ten per centum of the a value of
the real and personal estate in said city.
s. And be it enacted, That this act shall
be a public act, and shall take effect inn
mediately.