The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-11-18

ments the said Railroad Company plnas
bills for such adjusted tax liens are here
to annexed and made a part hereof.
to annexed and made part thereof.
each sarlSy taasa nnder rs
the third section hereof, the same shall
be credited upon the City Collectors
books In reduction thereof, So long as
shall not proceed to collect said adjusted
liens by sale or otherwise; In case de-
fault shall be made Ia any Of SAID yearly
payments. and said default shall continue
City shall have the right. to proceed with
the collection of said adjusted tax liens
or the amount thereof then unpaid, N
the same manner as this agreement
thereto may enforce the personal cove
nant for payment contained In the third
section hereof; until said taxes are fully
paid they shall continue to be liens upon
said lands.
Fifth-In order to enable the City forth
with to realize and have the use oI tne
monies due from the Railroad Company
on said last two mentioned plots. me
Railroad Company agrees to procure
within thirty days from this GATE cash
purchasers at par for Tax Arrearage
Bonds of the City under its seal. to be IS
sued under the authority of An act con-
cerning cities, approved April II, lSs6;
and the supplements thereto approved
issue of temporary loan bonds In CITIES Of
this State, approved April q. 1854, and
the other laws governing Jersey City, IN
mentioned in section three hereof, and
based thereon, which bonds shall bear In
terest al the rate of four per cent. per
annum. payable half yearly. on the first
days of June and December in each year,
and shall bear date November 10, 1888, ana
be for the amounts and taxes following;- =
(a) Bonds payable December J. 1893 for
ninety-ave thousand. one hundred ard
eighteen dollars and stxty-four cents lsse,-
1850, based upon taxes for sSos sald iands an
fOF the oyd years as s aan sss for
seventy-five thousand four hundred and
eighdy-eight dollars and eleven cents
$50 4ss1 ~ based upon taxes axe on said lands
(c) Bonds payable December ], 1901, for
sixty-six thousand two hundred and two
dollars and thirty cents 1856, 2e2.S 800, based
"a Bonds payable December l. 1902, for
seventy-six thousand six hundred and six
for years 1893 and 1894.
(ej Bonds payable December l, 1903. for
one hundred and twenty-five thousand
eleven cents (s122, ss5.11). based upon taxes
on said lands for the years 1885, 1925 and
1887, which bonds shall be payable to the
to be paid to the City by said Railroad
Company under section three Of this con-
tract. and shall~not be otherwise collect
ible from the City; said taxes being
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 scase default shall
be made in the payment 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
vember in each year the moneys required
TO pay the interest next thereafter falling
due on the aforesaid Tax Arrearage
ure by said Railroad Company TO pay
said semi-annual interest moneys the City
may at its option charge and collect in
tersst upon the unpaid balance of said
hereof at the statutory rate of interest
on unpaid taxes, calculating from the
date to which interest has been paid on
said bonds or 1t may proceed to collect
said semi 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 have caused their corporate
seals to be hereto affixed and these pres
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.
In presence of
The document was approved by Corpor-
alton Counsel McDermott. Then upon his
recommendation the following resolutions
were unanimously adopted
Resolved. That the proposed agreement
with the Central Railroad Company of
New Jersey, relative 10 the payment by
said company. Of the taxes and assess
ments adjusted against the lands Of said
company in Report No. 1885, Of the Com
n q n
the sum of five hundred and sixty-seyen
thousand and sixty-elght dollars and fif-
Committee of the Whole be and the same
is hereby ratified and approved.
And be, 1t further resolved that his
this Board be directed to execute the
same in duplicate under the seal Of the
city. and upon is execution II duplicate
mon seal and the hand OF its President, to
deliver one of said duplicate agreements
to said company, and to file the other
with the City Comptroller.
The following is a copy OF said agree
ment:-
Resolved, That in accordance with the
foregoing agreement with the Central
Railroad Company of New Jersey, the
time limited for the payment OF adjusted
liens for taxes. assessments and water
rents without interest, on Report No. 106
be extended from November Is. 1898, to a
t not of se mssyor q ss 5hs sp
and that copies of thie 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 aet concerning cities. APP
proved April 21, 1875, 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 81 1884, special tax arrearage bonds
be issued for the amounts following, for
the terms following, in the name OF The
Mayor and Aldermen of Jersey City
signed by the Mayor and City Clerk under
the seal of the city, and countersigned by
the City Comptroller. in anticipation Of
years hereinafter mentioned, on the lands
owned by the Central Railroad Company
of New Jersey, and known as Lot q, in
Block d, ,4e9, and lot one thousand 0O0)
in Blocks 481, &C., as shown on the map
annexed to report No. Jog of the Commits
sioners of Adjustment for Jersey City,
filed in the office of the City Collector on
September 18th, 1898.
~ Bonds for ninsty-five thousand one
hundred and eighteen dollars and sixty
four cents (S95, lis. 81, payable December l.
1899 based upon taxes on said lands for
the years 1884, 1885, 1886 and 1887.
hundred and eighty-eigl1t dollars and
eleven cents ($75, III, payable December
i, 1900s based upon taxes on said lands for
the years 1888. 1889 and 1890
(3) Bonds for s!xty-Six thousand two
hundred and two dollars and thirty cents
($66, 202. .30l payable Decen ber J. 1901, based
upon taxes on said lands for the years