Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1908-06-25
a N ORDINANCES.

An ordinance to provide Tor She issue of bonds
80 the amount OF Eighty-five Thousand Dollars
for the purpose Of paying of the floating indeb-
tedness of the said city incurred on account OF
the construction and extension OF the Sewer
System.
WHEREAS, The Mayor and Council OF the City
of Woodbury. has incurred tioating indebted
ness amounting to Eighty. eight Thousand, Two
Cents on account OF the construction and extern
sion of a Sewer system IN the said City OF
Woodbury.. which said indebtedness is eviden-
ced by promissary notes issued by the said City
in its corporate name.
Now therefore, be il enacted by the Mayor and
Council Of the City Of Woodbury.:
First: That for the purpose OF paying of the
floating indebtedness aforesaid. and under and
by virtue OF the provisions OF Al Act of the Leg
isiature OF the State of New Jersey entitled
sAn Act authorizing the incorporated cities,
towns, townships aud boroughs OF this state 10
fund their floating Indebtedness and their ma
tured and maturing bonds, : approved March @.
1899 and the acts amendatory thereof and sup
Elemental thereto: that bonds to the amount OF
Eighty five Thousand Dollars be issued by The
Mayer and Council of the City of Woodbury..
with interest at the rate OF Four and 0ne-ha
per eentum per annun payable semi-annnaf
all of said bonds shall be executed under Is
Corporate Seal of the City of Woodbury., sit led
by the City Clerk and shall have Coupons az
tached for every half years interest until due,
or may be registered at the option OF the holder,
which coupons If attaehed, shall bear She names
shall be numbered TO correspond with the bond
to which they shall be respectively attached:
and all OF she said Bonds shall be numbered.
and register Of such numbers the date OF said
fbonds the date OF issuing and the time Of pay
ment, shall be made by or under the direction
Of the City Treasurer in book provided Tor
that purpose all OF said bonds shall reeite that
they are issued in pursuance OF the said act OF
the Legislature Of the State OF New Jersey, and
OF the ordinance; and shall set forth the date
upon which this ordinance is adopted the said
bonds shall be sold az public or private sale and
for not less than par and accrued interest tbs
bonds so issued shall be designated Funding
Bonds and shall be OF the denomination of
One Thousand Dollars each and shall be NUM-
bered eonsecutively from One TO Eighfy-fSve
both numbers inclusive. and shall become pay
able in thirty years from the date of she issuing
thereof The date of the issuing OF xhe said
bonds shall pc the First day Of July, A. D, Nine
Second. Be Il further enacted, that for the
purpose OF redeenfng the bonds issued in pur>
snrance hereof as theiT maturity q Sinking Fund
| is hereby established, aud City Council shall
provide annually by taxation q special tax Of
three per centum upon the issue herein provided
for to be raised IN the annual tax levy. which
said tax shall be paid Into said sinking fund
be issued shall be raised by Special Tax annu-
ally and collected with other taxes Of said City
OF Woodbury., and the whole 81 each years In
terest shall be raised and levied and c0ilecf64
| each year.
Third Be il further esa<<esi Stat Ill ordinans
ces and parts OF ort{iH4{f&e4 7&tonsiStSef here
/ with be and the same are hereby k8<{sz s.
i Fourth Be II further enas*ea fhat <s57 sfsifs
/ nance shall take eject immediately
| introduced st regular meeting ia Gus G4sn+
/ ell held May la 1903, and passed a regular
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