Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1908-08-13
ii N ORDINANCE


An ordinance appropriating further sum of
Twenty thousand dollars for 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. for 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 nth, 1907. decided that il
was necessary to purchase a lot or tract of land
for school purposes and to erect school house
thereon and to purchase the school furniture
and other necessary equipment therefor and
that the amount of money estimated to be nee
essary for such purposes was the sum OF Sixty
thousand dollars:
AND WHERE'S, The Mayor and Council OF the
cember II, 1907, and approved December %, 1907,
appropriated the said sum of Sixty thousand
dollars for such purposes;
AND WHEREAS, The said Board OF Education
has since purchased lot for school purposes at
the cost of Fifteen thousand dollars leaving q
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 furniture and other
necessary equipment therefor;
AND WHEREAS said Board OF Education have
caused plans and specifications for q school
house to be prepared and have received bids
for the erection Of said school house, and the
installation OF heating and ventilating system
4herein; and the said sum Of Forty-fve thousand
dollars available for said purposes has been
found 20 be luSumc1en6 ana that order to
erect the said school house and purchase the
necessary school furniture and equipment there
fora further sum OF Twenty thousand dollars is
AND WHEREAS, The Board Of School Estimate
OF the City of Woodbury. having fixed and de-
4errnined that the aforesaid of Twenty
thousand dollars is the amour necessary for
such purposes, and having delivered 10 the 0oun
ell certificate OF such amount.
Nouu Therefore, Be it Enacted BY the Mayor and
Council Of the CITY Of Wood6asry:
FIRST: That the further sum OF Twenty thous-
and dollars be and the same hereby is appro-
xriased for the purpose of erecting a school
house and the purchase OF the school furniture
and other necessary equipment therefor.
said sum OF Twenty thousand dollars be appro.
priased and borrowed for the purposes aforesaid
and for the purpose OF securing the repayment
Of the aforesaid gum 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 su h bonds shall be signed by
the Mayor and the City Clerk and sealed with
the corporate seal OF the City of Woodbury.; and
shall have coupons attached for every half
years interest until due may be registered
at the option OF che 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 at
tached; all OF the said bonds shall be numbered
and register OF such number, the date OF issu-
ing and the time OF payment OF the same shall
be made by the Treasurer Of the City of Wood
bury In a book to be provided for th at purpose:
the said bonds shall be sold at public or private
sale and not Tor less than par and accurued inter-
est the bonds so issued shall be designated
school bonds Of the denomination OF one
thousand dollars each and shall be numbered
coneecutively, 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 eight years from the date
thereof, and In each succeeding year until the
4phoIe of the bonds issued are paid two of stich