Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-02-07

Notice is hereby given that at a meeting /,
Of the Board of Trustees Of the Village of
South Orange, held Thursday, January
20, 1914. ordinance was presented and
read of which the following is copy:
An ordinance to authorize the issue of
bonds of the Village of South Orange for
the purpose of paying off the floating in
debtedness of said village.
Whereas. The Village of South Orange has
heretofore issued its obligations In the sum
or $49.736.53 for money honestly loaned to
i d in good faith for the SoT VI purposes
i. For the purpose of paying the amounts
chargeable against the village at large for
assessments for which were confirmed by
the Board of Trustees of said village prior
to January 1Sn4 the sum aS OF 1880 foI ch
portion of said street improvements as were
assessed against property owners benefited
receipts of said assessments said assess
ments being payable In instruments, the sum
Whereas, II is deemed advisable that said
obligations be paid off by the said village.
and that the said floating indebtedness there
ceeding nlnety-six and two-thirds per centum
thereof, under and by virtue of the pro-
State of New Jersey entitled IAN act au-
thorizing the incorporated cities, towns,
sts ~ fund tSer oans and
their matured and maturing bonds" APP
proved March 3s, 1893, and the various acts
supplemental thereto and amendatory
Be It ordained by the Board of Trustees OF
the Village of South Orange In the County
1. That for the purpose of paying off ths
temporary obligations of said village, as here.
inaboye set forth, there be issued under and
by virtue of the provisions OF the above re-
cited act bonds OF the said village aggre-
2. Said bonds shall be issued in denomi,
nations Of $1,000, and shall be numbered
seupohs to for gsy sna
ment of interest, which shall be executed
by the facsimile signatures of the Village
bear interest at the rate of five per cent.
per annum, payable semi-annuaily: said
bonds, shall contain a. recital that they are
issued in pursuance of the act of the Legis-
lature hereinabove mentioned. and of this
ordinance, together with recital al OF the
Street Improvement Funding bonds. and
sold in such manner as shall be prescribed
BY resolution of this board
8. That said bonds shall mature as fol-
Nos to L. Inclusive on the first day Of
January. 1915.
Nos to s, inclusive on the first day Of
January, 1915.
Nos. TO rs, inclusive, on the first day OF
Nos il to is, inclusive on the first day OF
Nos 20 to rs, inclusive on the first day Of
January 1919.
January. 1920.
Nos So TO 81, Inclusive. the first day Of
January, 1921.
Nos IS to 4s. inclusive. the first day OF
january, 1922.
Nos. A to As, inclusive. on the first day OF
January. 1929.
L. That there shall be paid to the Com
missioners of the Sinking Fund of the VIII
iage of South Orange in each year for tho
purpose of creating sinking fund for the
redemption of said bonds at maturity, all
moneys paid to the financial officers of said
village by property holders on account OF
assessments in anticipation of the collec-
ton of which the bonds herein provided
| for shall in part have been issued, and In
addition thereto the sum of s3s0.42 per am
mum, to be raised through the annual tax
| levy of said village. provided that IL In any
| year the aggregate of said assessments and
of said sum of s380.42 shall be less than
three per cent. of the principal of said
bonds. then and in that event there shall
| be raised in the annual tax levy such adj
ditional sum of money as with said assess
ments and said sum of $3S0.42 shall as.
gregate three per cent. OF the principal OF
| said bonds.
s. That this ordinance shall take effect
| Immediately.
Notice is hereby given that meeting OF
the Board of Trustees Of the Village OF
| South Orange will be held in their Council
Rooms, in the Village Hall at eight o'clock
| p M, Monday, February 16, 1914 at which
| time and place the said board will proceed
| to consider said ordinance
M. A. FITZSIMMoNA
jjansi. feb7 Village Clerk