Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-01-09
CITY ADVERTISEMENTS.

AN ORDINANCE authorizing the Issuance of
bonds of the Mayor and Common Council
of the city of Newark In the aggregate sum
of s2.20o,000 for the purpose of paying a
portion of certain notes temporary loan
bonds Of said city, which to become duo
within one year and providing for the pay
nent oil the principal and interest of said
Whereas. The Mayor and Common Council
of the city or Newark has heretofore issued
It's notes or temporary loan bonds In the
three hundred thousand dollars ($2 900 0OO),
Note for $500. ooo dated April 1s, 1918,
due February L. 1914. payable to L. Won
Hoffman and Company Of New York.
Seven notes aggregating 100000. each
1914. payable to Brown Brothers. of New
Note for $4,000. dated September 4, 1914
nue. mre, , March I, I. 1914 ga. payable to Brown
Note for $1,000 dated September s. 1913
S sge march If New i Sd4 payable to Brown
Seven notes agsregating $4,000. each
dated September IL, 1913, each due March
Y; tsi'' payable TO Brown Brothers. OF New
Note for $50. ooo dated September Is. 1913
boek saVng IL st payable y H to yo the Dry
Note for $50. 900 dated September 10.
1913. due, March 10 1914, payable to the
Note for 10000 dated october To- 1918.
due April TO- 1914 payable to the German
Note for So q eg dated December 49, 1918
due February 10. 1914. payable to the Sc
cusity Swings Bank Of Newark.
due February 10. 1914. payable to the North
Ward National Bank of Newark.
T s% n notes sggresst,Is each
ruary TO- 1914, payable to Kidder, Peabody
and Company of New York.
honestly loaned in good faith to the Mayor
and Common Council of the city of Newark
equal to the principal sum thereof. and they
ttafA It,aer Nd mill IaaA =,
within year. and no part of said notes
has been paid. and the city ,s without
has been made in any tax levy or otherwise
for the payment of said notes; now. there
fore.
Be it ordained by the Mayor and Common
Council of the city of Newark:
Section l., That for the purpose Of paving
a portion of said notes in pursuance OF the
authority conferred by act of the Legs-
lature of the State of New Jersey entitled
IAN Act authorizing the incorporated cities.
to fund their floating Indebtedness and their
matured and maturing bonds" approved
March. 20. 1899. AID the acts amendatory
thereof and supplemental thereto bonds OF
the city OF Newark In the aggregate prin-
cipal sum of two million two hundred thou
sand dollars (s2.2O0,o00l be issued. said
amount of bonds being less than 90 $50
o. the amount of said notes issued as afore-
said.
Section Q. Said bonds shall be designated
Funding Bonds Series l. and shall be is
sued in denominations Of thousand dol
lars tS1.OUuD edcn. OF multlpleS thereof, as
the purchaser shall elect and shall be CON
secutively numbered each dated February l.
le14 payable February l. 1914. bearing in
terest at the rate of four and one-half per
certum (4h per cent? per annum. payable
semi-annually on the first days Of August
and February in each year both principal
State Bank of the city of Newark in gold
coin of the United States of America of the
present standard of weight and fineness or
its equivalent. Said bonds shall be executed
under the corporate seal of the, city and
tested by the city Clerk, and coupons at
tached to said bonds shall be signed with
the fac Nsimile signature of the Comptroller
and shall be numbered to correspond with
the bond to which they shall be respectively
attac Said bonds shall be coupon bonds
with the privilege of registration as to prin-
cipal only. or OF conversion into bonds regis
tered as to both principal and interest.
registration of the numbers of said bonds
the date OF said bonds the date of issuing
and the time of payment thereof shall be
made by, oil. under the direction Of the
purpose Said bonds shall recite that they
were issued in pursuance of said act of the
legislature and of this ordinance. and shall
be In such form as the Common Council OF
said city shall by resolution provide.
Section 8. In order to redeem said bonds
iished into which shall be paid annually dur
ing the term of said bonds the amount coli
lected by special tax of not less than 3
per cent. upon the principal OF said bonds
which shall be raised. assessed and col
iected in the annual tax levy Of the city.
u SeCllOn =. Inc Interest on Saiu DoHua
hereby authorized to be issued shall be
raised by special tax annually levied and
collected In like manner other taxes are
raised. levied and collected by the city. and
the whole of each years Interest on said
bonds shall be raised levied and coll
leeted In each year.
Section 5. The aforesaid bonds shall be
sold upon sealed proposals. to be received by
the Comptroller Of the city OF Newark until
twelve O'Clock noon on the nineteenth day
OF January. 1914, at his office In the City
Hall. Newark. New Jersey. and the said
Comptroller is hereby directed to advertise
the sale of said bonds at least ten days by
publication for at least two insertions In
one more newspapers published and cir
culated in the city OF Newark and he is
also hereby directed 20 advertise said
notice in one or more financial newspapers
published in the city of New York for
Insertion in each of said papers.
Section 6. This ordinance shall take effect
Immediately.
Adopted January Z, 1914.
PATRICK c. O'BRIEN,
President of Common Council.
Presented to the Mayor for HIS approval
JAMES F. CONNOLLY.
City Clerk.
Approved January 7, 1914.
JACOB HAUSSLING.
Mayor.
The foregoing ordinance was presented in
Common Council Wednesday evening,
January 9TH 1914. on third reading and
inal passage. Was passed and duly signed
JAMES f. CONNOLLY,