Gloucester County Democrat., 1908-10-22
AN ORDINANCE

AN ORDINANCE
4utborizine the issuance ii twenty-six hundred
dollars worth Of bonds for the purpose OF obtain
ing money for the sale thereof for the purchase
Iof lands bordering on Aberdeen Place and West
Street in the City of Woodbury.. for the purpose
Of widening and Strengthening a portion OF said
streets.
Whereas, it is necessary for the Mayor and
Council of the City of Woodbury. to purchase
certain lands belonging to John E. Pearson,
situate on Aberdeen Place, and certain lands
belonging to Charles A. Krlmm. situate Oh
West Street. in the City of Woodbury., for the
purpose of widening and Strengthening q por-
lion OF said Aberdeen Place and West Street in
accordance with the ordinances fixing the lines
of said streets; and whereas, the said John Z.
Pearson has agreed to sell the land necessary for
said purposes on Aberdeen Place for the sum of
six hundred dollars, and the said Charles A.
Krimm has agreed to sell the said land on West
Street necessary for said purposes for the sum OF
two thousand dollars.
Now therefore, be it enacted by The Mayor
and Council of the City of Woodbury.
First: That for the purposes aforesaid, and
under and by virtue OF the provisions OF An
Act of the Legislature of the State Of New
Jersey entitled, IAN Act to authorize cities of
this State to issue bonds in certain cases. ap-
proved March % 1895, that bonds to the amount
Of twenty-six hundred dollars be issued by 1.-The
Mayor and Council of the City of Woodbury."
with interest at the rate of four and one-half per
centum per annum, payable semi-annually. both
principal and interest payable at the Office OF
Il
of said bonds shall be executed under the cor
porate seal of the City OF Woodbury. and signed
by the Mayor and City Clerk OF the City of
Woodbury.. Said bonds shall be registered with
the Treasurer Of the City of Woodbury. in the
name OF the owner on the books of the City OF
Woodbury. and the principal and interest shall
be payable to the registered holder. Four OF
said bonds numbered consecutively from one to
four, inclusive shall be of the denomination of
five hundred dollars each: and one of said bonds
shall be mum bered five and of the denomination
nfc Ell hundred dollars h0nd number shall
be payable on October lst, 1910; bond number
two shall be payable on October 1st, 1911; bond
number three on October 1st. 1912; bond number
four on October lst, 1913; and bond number five
on October LIST, 1914. The date of issuing bonds
shall be the first day of October, A. D. 1908.
Second: Be it further enacted that the bonds
so authorized shall be executed and issued in
substantially the following form:
form OF Bondl
"a No. 1908
United States of America,
State of New Jersey,
City of Woodbury..
Know all men by these presents, that The
Mayor and Council of the City of Woodbury..
acknowledges itself indebted and promises to
pay to legal representatives, sue
cessors or assigns the sum of dollars
at the office of the City Treasurer in said City on
the first day OF October, in the year nineteen
hundred and with interest at the rate of
four and one-half per eentum per annum pay
able semi-annually on the first days of April and
OctODSI. dt the OlitCe dlOEcsaiu.
This bond is one of series of five bonds four
of five hundred dollars each and one of six hum
dred dollars amounting in the aggregate to
twenty-six hundred dollars, all OF ike date, and
numbered from one TO five, both mum bers, in
elusive, and issued for the purpose of purchasing
lands for the purpose of widening and straight
ening Aberdeen Place and West Street public
streets of the City of Woodbury., issued under
Legislature OF the State OF New jersey, entitled
An Act to authorize cities in this State to issue
bonds in certain cases. approved March 22d,
1885, and by virtue and in pursuance OF an Ordi-
nance of the said The Mayor and Council of the
City of Woodbury., entitled IAN Ordinance
authorizing the issuance OF twenty-six hundred
dollars worth of bonds for the purpose of OBJ
tanning money from the sale thereof for the
purchase OF lands bordering on Aberdeen Place
and West Street in the City of Woodbury., for the
purpose of widening and strengthening por-
tioi of said streets. duly passed at regular
meeting of the itv Council of said City of
Woodbury. held September % 1905 and ap-
proved bv the Mayor of the said City of Wood
bury on 1908. and which said ordinance
was duly published according to law.
And it is hereby certified that no provision OF
the Constitution or Laws OF the state OF New
Jersey is in any way violated by the issue of the
said bonds; and 1t is further certified that all
acts requirements and conditions precedent or
otherwise to the issue of the said series of bonds
have been duly and fully complied with and
that the total Indebtedness OF the City of Wood
bury including the series OF bonds of which
this is one, is not in excess OF any constitutional
o STATUTORY
this series OF bonds is in all respects legal The
faith credit and prosperity of the City Of Wood
bury are hereby pledged for the payment of the
principal and interest hereon as they fall due.
In witness whereof. The Mayor and
Council of the City of Woodbury.. has
caused these presents to be signed by
(Seal1 the Mayor and City Clerk, and its cor
porate seal to be hereto affixed as of
the First day Of October, one thousand
nine hundred and eight.
...--+....---....; Mayor.
..........-.-.....Ci City Clerk.
| Third. Be it further enacted, that there shall
| be raised by tax in each year such sum of money
/ as may be necessary to pay the interest Oh all
| the outstanding bonds and the principal of such
bonds as may mature that year.
1 Fourth: And be it further enacted. that the
| finance committee in conjunction with the City
Treasurer, shall negotiate the sale Of said bonds
| at the best price which can be obtained for the
| same, at either public or private sale not less
! than their par value, and the proceeds thereof
shall be deposited by the City Treasurer, for the
| sole purpose Of purchasing the lands aforesaid.
Fifth: And be it further enacted, that all ordi-
| nances or parts of ordinances inconsistent here
| with be and the same are hereby repealed, and
4 that this ordinance shall take effect immedi-
! ateiy.
] Passed at a regular meeting of City Council
| held September %, 1908.
l. HAMPTON WILLIAMS,
Attest: President OF Council.
ROBERT c.. SPARKS, City Clerk
Approved Oct. 5, 1903.