Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1908-08-06
4 N ORDINANCE

An ordinance sppropriatng 3 further sum Of
Twenty thousand collars Tor the purpose of
erecting school house and the purchase OF the
school furniture and other necessary equipment
therefor, and providing for the borrowing OF the
said sum of Twenty thousand dollars Tor the
purpose aforesaid and securing the repayment
thereof by the issue of bonds in the corporate
name of the City of Woodbury..
WHEREAs, The Board OF Education OF the City
OF Woodbury., in the County of Gloucester. at .
meeting held July llth, 1907, decided that Is
was necessary to purchase 3 lot tract Of land
for school purposes and to erect school house
thereon and to purchase tbs school fHrnitufe
and other necessary equipments therefor: and
that the amount OF money estimated to be nee
esssry for such purposes was the sum OK Sixty
thousand dollars:
AND WHERE'S, The Mayor and Council Of the
City OF Woodbury., by an ordinance passed De-
cember II. 1907, and approved December q. 1887,
appropriated the said sum of Sixty thousand
dollars for such purposes;
AND WHEREAS, The said Board Of Education
has since purchased a lot for school purposes at
the cost OF Fifteen thousand dollars leaving 3
balance of Forty-five thousand dollars of the
amount appropriated for the purposes aforesaid
available for the erection OF school house and
the purchase OF the school furnitnre and other
necessary equipments therefor;
AND WHEREAS, said Board OF Education have
caused plans and specifications for q school
house TO be prepared and have received bids
installation OF heating and ventilating system
therein; and the said sum OF Forty-fve thousand
dollars available for said purposes has been
found TO be insufficient and that in order to
erect the said school house and purchase the
necessary school furniture and equipment there
fora further sum OF Twenty thousand dollars il
AND WHEREAS, The Board OF School Estimate
of the City OF Woodbury. having fixed and de-
termined that the aforesaid sum Of Twenty
thousand dollars IS the amount necessary for
such purposes and having delivered TO the Coun
ell certificate OF such amount
N,,,, TIE a..tz,..,
eoaneft Of the cfty Of Wood5ary:
FIRST: That the further sum OF Twenty thous-
and dollars be and the same hereby Is appro-
priated for the purpose OF erecting a school
house and the purchase OF the school furniture
and other necessary equipment therefor.
SECOND: Be it further enacted that she afore-
said sum of Twenty thousand dollars be appro-
priated and borrowed for the purposes aforesaid.
and for the purpose Of securing the repayment
OF the aforesaid sum OF money that bonds be
issued by 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; all Of such bonds shall be signed by
the Mayor aud the City Clerk and sealed with
the corporate seal os the City OF Woodbury.; and
shall have coupons attached for every half
years interest until due or may be registered
at the option OF she holder, which coupons, il
attached shall bear the name of the City Clerk,
and shall be numbered to correspond with the
bond to which they shall be respectively 81
sached; all of the said bonds shall be numbered
and register OF such number, the date OF isst-
ing and the time Of payment of the same shall
be made by the Treasurer Of the City Of Wood
bury in . book to be provided for that purpose:
the said bonds shall be sold at public or private
sale and not for less than par and accurted inter-
est; the bonds so issued shall be designated
school bonds of the denomination OF one
thousand dollars each and shall be numbered,
consecutIyely, from sixty-one TO eighty, both
numbers inclusive, and the said bonds shall be-
come payable in the following manner. Two OF
such bonds in thirty-eighf years from the date
thereof. and in each succeeding year until the
whole Of the bonds issued are paid trio OF such
bonds shall be paid on the day corresponding
such bonds shall become due and payable shall
be determined by the numbers thereof, CONF
mencing with bonds No. 81 and Mo- e. and con-
tinuing In order until No 80 inclusive. il
reached The date OF the issuing OF said bonds
shall be the First day OF January. nineteen hun
Edred and nine4
Third. Be il further enacted. that there shall
be raised by tax In each year such sum Of mon
~ IS may be necessary 70 pay the interest On all
outstanding bonds and the principal Of such
bonds rs may naature that year the proceeds Of
tie sale OF such bonds shall be deposited with
the custodian Of school moneys Of such school
district and shall be paid out only on she war
rants or orders OF the said Board Of Education.
FOURTH: Be Il further enacted that all ordi-
nances and parts Of ordinances inconsistent
herewith be and the same are hereby repealed
FIFTH; Belt enacted chat this ordinance shall
take effect immediately
Passed At regular meeting Of Council held
en- the Twenty eighsh day OF July, nineteen hun-
a. st !. HAMPTON WILLIAMS.
Attest: President 81 Coapcii
RoBERT 9. srARxs City Clerk
Approved July 80, 1908,
SIS 1t SAMl B. Lamp. Mayor.
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