The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-11-26


payable to the city and like application
may be made as to any other lands adj
justed in said report.
Thsrd1said Railroad Company shall pay
upon lot one thousand a, v00), in Block 4Sl.
etc. amounting TO the sum Of three hum
dred and fourteen thousand three nuns
bred and ffty-one dollars and eighty-nine
cents t$3l4. 351. $50, and upon lot z, Block
], 499, amounting to the sum Of one hun
dred twenty-one thousand and four hum
dred and fifty-eight dollars and fifty-tbree
cents (sl2l, $3.50, being a total of four
hundred and thirty-tve thousand eight
hundred and ten dollars and forty-two
without interest as foilows=
On or before November Is, 1899, the sum
of ninety-five thousand. one hundred and
for the years 1854, 1855, 1856 and 1887.
Of seyenty-tive thousand, four hundred
and eighty-eight dollars and eleven cents
81 S1Sfi5 AZ 1bs S BENG e 1 ths a 1sss 2 sbd , taxes there
On or before November 18th, 1901, the
sum of sixty-six thousand two hundred
and two dollars and thirty cents $685.
for the years 1891 ard 1892;
On or before November 18th, 1902, the
sum of seventy-six thousand six hundred
and sixteeI dollars and twenty-six cents
z $4,000 bsing the adjusted taxes there
on for the years 1898 and 1891;
Or or before November 18th, 1903. the
sum OIL one AuI1urEQ- ana twenty-five
thousand three hundred and eighty-five
dollars and eleven cents ($I22, 3S51D being
the adjusted taxes thereon for the years
1885, 1896 and 1887, which said several pay
ments the said Railroad Company binds
itself, personally, to make Copies of the
bills for such adjusted tax liens are here
to annexed and made a part hereof.
Fourth-As each yearly payment is
made upon said adjusted taxes, under
the third section hereof, the same shall
be credited upon the City Collectors
books in reduction thereof, so long as
said yearly payments are made the City
shall not proceed to collect said adjusted
liens by sale or otherwise; in case de-
fault shall be made in any of said yearly
| payments, and said default shall continue
for the space of thirty days then the
City shall nave the right to proceed with
the collection of said adjusted tax liens
or the amount thereof then unpaid, in
the same manner as if this agreement
had not been made; and in addition
thereto may enforce the personal cove
nant for aynen contained in the third
section hereof; until said are fully
paid they shall continue to be liens upon
said lands.
Fifth-In order to enable the City forth
monies due from the Railroad Company
on said TWO last mentioned plots, the
Railroad Company agrees to procure
within thirty days from this date cash
purchasers at par for Tax Arreatage
Bonds Of the City under its seal, to be is
sued under the authority of An act cor
corning Cities approved April q, 1916,
and the supplements thereto approved
| March 8, 1877, and "An act relating to the
issue Of temporary loan bonds in cities Of
this State" approved April q, 1884, and
| the other laws governing Jersey City, IN
anticipation of the collection of the taxes
mentioned in section three hereof, and
based thereon. which bonds shall hear in
terest at the rate Of four per cent. Fer
annum, payable half yearly. on the first
days of June and December in each year,
and shall bear date Noyember l5s 1898, and
l. hnN for fhas . ran1TnfG a md f1VnS f04lnUNi1ns-
(a9 Bonds payable Reeember I lssg, Tor
eighteen dollars and sixty-four cents $685.
1850, based upon taxes for said lands
for the years 1884, 1885, and 1885 and 1887.
(b} Bonds payable December i, 1900, for
s~eventy-hye thousand four hundred and
Lightweight dollars and eleven cents
($75, 4SS.lD, based upon taxes ON said lands
for years 1883, 1889 and 1880.
(c) Bonds payable December l. 1901, for
sixty-six thousand two hundred and .wo
dollars and thirty cents (S66.202.30), based
upon taxes on said lands for years 1881
and 1882.
s~eventy-sIx thousand six hundred and six
teen dollars and twenty-six cents
CSC, GIG. 26), based upon taxes on said lands
for years 1893 and 1884.
(e) Bonds payable December /, 1903, for
one hundred and twenty-five thousand
three hundred and eighty-fye dollars and
eleven cents (S122. 3S5.1D, based upon taxes
on said lands for the years 1895. 1895 and
1897, which bonds Shall be payable to the
holder thereof My out of the tax moneys
to be paid to the City by said Railroad
Company under section three of this con-
tract, and shall not be otherwise collect
IDLE from the City; said axe being
specifically pledged therefor. Tn City
agrees on its part for the benefit of the
holder of said bonds to pursue all lawful
methods for the collection of said taxes
from said property in case default h
be made in the paymen OF the principal
or interest thereon as herein provided.
Sixth-The said Railroad Company
agrees to pay TO the City IN cash, on or
before the fifteenth days of May and No
yember in each year the moneys required
to pay the interest next thereafter falling
due on the aforesaid Tax Arrearage
Bonds then outstanding. In case Of TAIL
ure by said Railroad Company to pay
said -semi-annual interest moneys the City
may at its option charge and collect in-a
terest upon the unpaid alance of said
tax liens mentioned in paragraph three
hereof, at the statutory rate of interest
on unpaid taxes, calculating from the
date to which interest has been paid on
said bonds. or it may proceed to collect
said senni-annual interest from the Rail
road Company on this covenant.
Seventh-The covenants herein contain
ed shall bind the successors of the re-
spective parties.
In witness whereof, the respective par
ties hereto nave caused their corporate
seals to be hereto affixed and these pres
ents signed by The Mayor and President
of the Board of Finance on behalf of the
City, and by the President thereof on be-
half of the Railroad Company, the day
and year first above written.
Resolved, in accordance with the
foregoing agreement with the Central
Railroad Company of New Jersey, the
time limited for the yme of adjusted
liens for taxes. assessments and water
| rents. without interest, on Report No. 106,
be extended from November 10, 1898, to a
time not exceeding two days after the ap-
| prevail of the Mayor of this resolution,
and that copies of this resolution be for
warded to the City Collector and City
Comptroller for their guidance upon such
approval.
Resolved. That in accordance with the
foregoing agreement with the Central
| Railroad Company of New Jersey, and
| pursuant to the provisions of an act en-
titled An act concerning cities" ap-
| proved April u, 1876, and the supplements
thereto. and of an act entitled "An act
relating to the issue of temporary loan
| bonds in cities Of this State" approved
| April 21. 1884, special tax arrearage bonds
be issued for the amounts following, for
the terms following. in the name of The
| signed by the Mayor and City Clerk under
the seal Of the city. and countersigned by
the City Comptroller. in anticipation of
the collection of taxes as adjusted for the
wears hereinafter mentioned. on the lands
owned by the Central Railroad Company
of New Jersey, and known as Lot e. in
Block 1,499, and lot one thousand G.0o0l.
in Blocks ISL; Be-, as shown on the map
annexed to report No. 1906 of the Commits
sioners of Adjustment for Jersey City,
filed in the Office OF the City Collector on
September 10th, 1888.
% Bonds for ~ninety-five thousand one