The Jersey City news., 1906-07-10

proper for the transmission, distribu-
ton, use and supply Of said light, heat
and power, and for the safety, seeur-
ity and protection of the buildings,
machinery. apparatus, wires, poles.
subway sand conduits and other works
and appurtenances used in connection
Herewith, and for fixing and collect
ing all rates, rents or charges for fur
nishing and supplying light, heat or
power for private or commercial use
in such city and for imposing penal
ties for the non-payment thereof; and
such rates, rents or charges shall be
and remain, until paid, municipal
liens against the property and prem
ises where such light, heat or power
is furnished, and if allowed to re-
main unpaid hsall draw interest at the
rate of II per centum per annum from
and after the time when they shall be-
come due. and may, in addition to the
other remedies herein provided, be coli
lectible in the same mode and manner as
other municipal liens are now or may
hereafter be by law collectible in such
city.
''4-In order to supply the funds
nacascarv ~ ca,.r,- :n+o ofroo+ +bo ,,ro-
visions of this act, the governing body
of any city desiring to avail itself of the
provisions herein contained is hereby au-
thorized and empowered to issue the
bonds of said city to an amount not ex-
ceeding one per centum of the ratables
of such city, as shown by the last as
sessment for taxes therein, which bonds
shall be sold at public sale for not less
than par and accrued interest; and all
moneys received from the sale of said
bonds. including any premium or prem
iums, shall be used exclusively for such
purposes.
"5--The bonds to be issued under the
provisionso # his act shall be payable in
not more than 80 years from the date
thereof, shall bear interest at a rate not
exceeding four per centum per annum,
be of such denomination as said govern
ing body shall determine, and shall Ia
executed by the mayor under the corpo-
rate seal of said city and signed by the
city treasurer, and attested by the city
clerk and countersigned by the city comp
troller, and may be either registered OF
coupon bonds for registered bonds OF
may direct; and said governing body may
from time to time, at the request and
expense of the holders thereof, exchange
coupon bonds as said governing body
change the denomination of said bonds
"6-In order to redeem such bonds al
such city sinking fund. into which il
shall be the duty of said governing body
to pay or cause to be paid, annually, q
sum to not less than 2 per centum of the
amount of the principal of the bonds is
sued under the provisions of this act
which sinking fund shall be appropriate
ed, raised and provided, by annual tax
alton or otherwise by said governing
body, and shall be under the charge and
control of the sinking fund commission
ers of such city by whatsoever namt
| they may be called.
"7-The interest on said bonds shas
be paid semi-annually out of funds to ~
proidved for that purpose by way of tax
alton or otherwise, by said governing
body.
.'2s-This act shah take effect imme
diately.'
The governor also signed assembly bill
$50, by Mr. Martin, a revision concern
ing the mode and manner of committing
insane persons for care and treatment Il
the insane Institutions of the state.
The governor vetoed number of othe
bills yesterday, as follows
Assembly 70, by Mr.. Elvins, author
ICES towns to purchase electric ligh
plants.
The governor disapproves this measur
and says
"This bill is disapproved. One genera
measure on this subject has already bee
approved for reasons referred to in tn
veto of assembly SO; moreover, this bill
contains a limitation as to the amour
of money that should be expended 70
the construction of opSating plants t
carry out the provisions of the bill.