Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1898-10-27

IN
Providing for the borrowing of the sum OF Six
Thousand Dollars, TO pay Tor the erection of an
Engine House, and for the issuing of bonds to
secure the payment of the said sum of Six
Thousand Dollars. with interest thereon.
Whereas the Legislature of the State of New
Jersey. by an Act entitled IAN Act to authorize
the erection of engine houses in cities of this
state" approved March End. 1881, and by sup
plement thereto approved March 22nd, 1882, did
authorize and empower the Mayor and Common
Council of any city in this State, to erect one
more buildings suitable for the use of the fire
department of SAID city and to purchase land
wherein to erect said building or buildings, pro-
vided that the aggregate cost of such lands and
of the erection of such buildingor buildings in
said city, shall not exceed fifteen thousand dol
lars. and
Whereas. the Mayor and Council of the City OF
Woodbury. have contracted for, and are now
erecting such building and buildings for the
purposes aforesaid. at the contract price Of Six
Thousand Dollars, Now Therefore,
See. l. Be 1t enacted by the Mayor and Council
of the City of Woodbury. That for the purpose OF
carrying the said Act into effect the Treasurer OF
the City of Woodbury., be, and he is hereby au-
thorizs and required, to borrow in the name of
THE Nj or ana Council of the City of Wood
bury the sum of six Thousand Dollars, and to
secure the payment thereof, the said Treasurer
he, and is hereby authorized aud required toisue
bonds in the name of the said THE Mayor and
Council of the City of Woodbury." for an amount
not exceeding the sum OF Six Thousand Dollars
in denomin ations of One Thousand Dollars each,
in six series.
The first series to be called Series A." condi-
| toned for the payment Of the sum of One Thou
sand Dollars. in one year from the first day of
| November eighteen hundred and ninety eight,
with interest thereon at rate not exceeding four
per cent. per a. mum. payable yearly at the office
| Of the City Treasurer, Woodbury. N.
The second series to be designated Series B,
conditioned for the payment OF the sum Of One
Thousand Dollars, in one year from the First day
| of November, eighteen hundred and ninety nine,
with int rest thereon at rate not exceeding four
/ per centum per annun, pay able yearly at the
Office OF the City Treasurer aforesaid
The third series to be designated Series c.
| conditioned for the pay ment Of the sum of One
| Thousand Dollars, in one year from the First day
OF December nineteen hundred, with interest
thereon at a rate not exceeding four per centrum
| per annum, payable yearly at the office of the
| City Treasurer aforesaid.
| The fourth series to be designated "Series D, :"
conditioned for the payment of the sum of One
Thousand Dollars. in one year from the First day
OF December, nineteen hundred and one, with
interest thereon at q rate not exceeding four per
centum per snnum, payable yearly al the office
| OF the City Treasurer aforesaid.
The fifth series to be desiguat Series Z, '"
conditioned for the payment Of the sum of One
| Thousand Dollars, in one year from the First day
| of December, nineteen hundI ed and two, wi n
interest thereon at a rate not exceeding four per
| centum per annum, payable at the office of the
City Treasurer aforesaid.
| The sixth series TO be designated 'SerieS +, ~
1 conditioned for the pay ment of he sum OF One
Thousand Dollars. in one year from the First day
of December nineteen hundred and three with
interest thereon at rate not exceeding four per
centum per annum, payable at the office of the
1 City Treasurer aforesaid.
Interest of each series to be payable only from
date OF issue.
Sec 2. And be it enacted, That the said bonds
may be either coupon registered bonds; IL
coupon bonds, they shall be made payable to
bearer. Each bond shall be lettered with its
series letter an6 numbered, and registry of its
series, number, date of issue and to whom issued,
shall be kept by the City Treasurer aforesaid.
And if registered bonds, any transfer thereof
shall be kept by the City Treasurer
Sec. 3. And be il enacted, That the said bonds
shall be sealed with the seal of THE May
and Council OF the City Of Woodbury. signed
by the Mayor and attested by the Treasurer; and
the faith, credit and property Of the said 1.-THE
J Mayor and Council of he City of Woodbury." is
: hereby pledged for the payment OF the principal
and interest thereof.
, Sec. 4. And be it enacted, That the said bonds
value: and the proceeds thereof shall be used
and applied exclusively to the payment OF, and
costs incurred in the erection of the said building
and buildings for the use OF the fire department
of the said City OF Woodbury., authorized by the
| Aforesaid Act OF the Legislature, and now in
process of erection.
Sec. 5. And be it enacted. That all ordinances
and parts of ordinances, inconsistent with the
| provisions of this ordinance, be aud the same are
] hereby repealed.
Sec 8. And be it enacted, That this ordinance
shall take effect Immediately.
Passed at regular meeting of Council held
October 18th, 1885.
THEO f. BURKETT.
Attest: President Of Council, pro tenpore
D. T. MATTERS, City Clerk
: Approved october H. 1898
PRS fee, $500 SAMUEL H. LADD. Mayor