Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1898-10-20

Providing for the borrowing of the sum of Six
Thousand Dollars, to pay for 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 or
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 1.-The erection of such building or 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,:
Sec. /. 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-
thOrized and required, to borrow in the name OF
1.-THE MAJOR ana Council of the City of Wood
bury" the sum of Six Thousand Dollars, and to
secure the payment thereof, the said Treasurer
be, and is hereby authorized and required toisue
bonds in the name of the said 1.-The Mayor and
Council of the City of Woodbury." for an amount
not exceeding the sum of Six Thousand Dollars,
in denominations 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-elght
with interest thereon at rate not exceeding four
per cent. per aunum. payable yearly at the Office
of the City Treasurer, Woodbury., N. j.
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 interest thereon at rate not exceeding four
per centum per annum, payable yearly at the
office of the City Treasurer aforesaid
The third series to be designated Series G,
conditioned for the payment Of the sum of One
of December, nineteen hundred, with interest
thereon at a rate not exceeding four per centum
per annum, payable yearly at the office of the
City Treasurer aforesaid
The fourth series to be designated nSeries D. y
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 a rate not exceeding four per
centum per annum payable yearly at the office
OF the City Treasurer aforesaid.
The fifth series to be designated "Series E, y
conditioned for the payment of the sum of One
Thousand Dollars, in one year from the First day
of December, nineteen hundred and two, wi b
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 F, -
conditioned for the payment of the 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
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 or registered bonds; il
coupon bonds, they shall be made payable to
bearer. Each bond shall be lettered with its
series letter and 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. B. And be it enacted That the said bonds
shall be sealed with the seal of "The Mayor
and Council of the City of Woodbury. signed
by the Mayor and attested by the Treasurer; and
Mayor and Council of the 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
shall not be disposed Of for less than their par
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.
and parts of ordinances, inconsistent with the
provisions of this ordinance, be and the same are
hereby repealed.
Sec 6. And be it enacted, That this ordinance
shall take effect Immediately.
Passed at regular meeting Of Council held
October 18th. 1898.
THEO. F. BURKETT.
Attest: President of Council, pro tempore.
D. T. MATHERs, City Clerk.
Approved october IL, 1898
Prs fee, $500 SAMUEL H. LADD, Mayor.