The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1895-05-28
CHAPTER oCIv

A Supplement to an act entitled can act to au-
tDorlze the establishment Of free public libraries
IN me cities OF this state" approved April first,
one thousand eight hundred and eighty-fOur,
l. Be It enacted by the Senate and General As
sembly of the State of New Jersey, That when in
the Judgment of the board of trustees of the free
public library in any city in this state which city
has accepted the provisions of the act to which
TINS Is a supplement- it is advisable to purchase
lands, improved or unimproved, or to erect build
lngs thereon, or both, for the purposes of a free
m fgE ~ xnunaassexn
cost thereof shall exceed the amount of the annual
appropriation for library purposes in such city
and the funds of such board of trustees then on
hand said board of trustees of such public library
may certify to the common council or other gov
ernlng body OF the city in which such free public
library is situated, the amount of money necessary
Tor the purpose of making such purchase of land
or Improvement thereof, and thereupon the COM
mon council or other governing body of such city
may by resolution at its discretion authorize and
empower the board of trustees of said free public
library to expend such moneys as to the said COM
mon council or other governing body may seem
proper tor such purposes, not to exceed however,
the amount certified as aforesaid by said board of
trustees Of the free public library, and upon the
passage Of such resolution the board of trustees of
SAID public library shall be empowered and au-
thorized TO purchase real estate and to erect build
ings and make improvements thereto and to ex-
pend moneys therefor to the amount of such ap-
preparation; provided, however, that no lands
shall be purchased for the purpose of erecting
thereon free public library except with the con-
currence and approval of the common council or
other governing body of sHch city, which concur
renee and approval shall be expressed by resolu-
ton OF the said common council other governing
body the title OF real estate purchased shall be
taken in the name of such city and shall be ex-
empt from taxation, but the and control of the
same shall be in such board of trustees of the free
public library SO long as it shall be used for free
public library purpOseGt
2. And be it enacted, That to defray the ex-
pense of such purchase and construction, either
the said common council or other governing body
of such city is hereby authorized and directed tC
issue the bonds Of such city not to exceed in the
aggregate the sum of one hundred and seventy
five thousand dollars, which bonds shall be of such
denominations as the said common council Oh
other governing body shall direct; they shall be
made payable within not more than thirty years
less than ten years from the date of their issue
they shall bear such rate of interest not exceeding
four per centum per annum and be made payable
to the said common council or other governing
body may determine said bonds shall be neg0ti-
ated and sold at not less than their par value
they shall be denOminated free public library
bonds" and shall be signed as other municipal
bonds of such cities are signed
3 And be it enacted, That for the redemption
of the bonds issued pursuant to the provisions of
this act, and to provide for the payment of the
interest on said bonds it shall be the duty of the
board of trustees of such public library, from
the annual appropriation for the support of free
public libraries therein (which appropriation is
fixed by the act to which this is a supplementJ, to
pay to the commissioners of the sinking fund OF
other proper officer or officers having charge Of
the sinking fund of such city, the amount of inter
est on said bonds, together with three per centun
for the purpose Of a sinking fund, and the saic
sums annually received tor interest and sinking
| fund by the said commissioners of the sinking
fund.- or other officers shall be applied by them K
the payment of such interest and to the creation
of sinking fund to meet the said bonds wheI
they shall fall due.
A. And be it enacted, That all acts, and parts o.
acts inconsistent with the provisions of this ac
be and the same are hereby repealed, and that th
act shall take effect Immediately.
ADDrOv0d March 81. I8Q6.