Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-09-07
The Monday instalment of
"The Million Dollar Mystery"
will be printed in Tuesdays
Evening Star.
CITY ADVERTISEMENTS

!
AN ORDINANCE AUTHORIZING THE Is-
| SUANCE Oh BONDS OF THE MAYOR
| AND COMMON COUNCIL OF THE CITY
OF NEWARK IN THE AGGREGATE
| SUM OF 81 100000 FOR THE PURPOSE
| OF PAYING A PORTION or CERTAIN
| TEMPORARY LOAN BONDS OF SAID
WITHIN lTY WH oSs Y AHG 10 AND 9SG
FOR THE PAYMENT OF THE PRINCI-
| PAL AND INTEREST OF SAID BONDS.
WHEREAS. The Mayor and Common
Council OF the City of Newark has hereto
fore issued it's temporary loan ponds In the
aggregate principal amount of three million
dollars ga. 900 000). dated June 20, 1914. and
payable September 20. 1914, 81, 100000 OF
which said bonds, bearing interest at the rate
Of $40 per eentpm per annnm were .s sold oi to
Of which bonds were sold to Messrs Ber
nard Scholle e. Company. 100000 of said
5000. 900 bonds bearing interest at the rate Of
2.61 per centum per annum; 800. 0O6 bearing
interest at The rate of 2.72 per centum per
annum, 100000 bearing interest at the rate
of 2.S1 per centum per annum, 100000 bear
ing interest at the rate of 2.ss per centum
per annum 800. 600 bearing interest at the
rate of 2.97 per centum per annum and $780,
900 bearing interest at the rate of 3.01 per
centum PEI annum.
WHEREAS, Said temporary loan bonds
were issued for money honestly loaned in
good faith to the Mayor and Common Coun-
ell of the City of Newark, equal to the prin-
cipal sum Of said temporary loan bonds,
which now outstanding and viii become
due within one year, and no part of said
bonds has been paid, and the city 10 without
/ funds to meet the same, and no provision has
been made In any tax levy or otherwise for
the payment Of said bonds
NOW THEREFORE,. BE IT ORDAINED.
BY the Mayor and Common Council Of the
Section !. That for tho purpose Of paying
portion of said temporary loan bonds In
act OF the Legislature OF the State of New
Jersey entitled AN act authorizing the In
corporated cities towns. townships and Dor
oughs of this State to fund their boating In
lpDtpdDp9S their
bonds" approved March %. s9s. and the
acts amendatory thereof and supplemental
thereto, funding bonds of the City OF Newark
I'm the aggregate principal sum o; $500. 900
be issued. said amount Of funding bonds being
81 70 per centum Of the amount Of said tenn
porary loan bonds issued aforesaid
Section 2. Said funding bonds shall be des-
ignated Funding Bond Series ?" and shall
be Issued in the denomination Of $1,000 each.
and shall be consecutively numbered from
to 1900 lncuslve shall be dated Septem-
her fifteenth. 1914. payable September fifteenth,
and onehalf per centum 4hbl pet
annum. payable semi-annually the If
teenth days Of March and September la each
year both principal and interest Of said
bonds being payable at the National 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 It's
equivalent. Said bonds shall be executed
under the corporate seal Of the city and
signed by the Mayor and Comptroller and
attested by the City Clerk. and the coupons
attached to said bonds shall be signed with
the facsimile signatures OF said Mayor, Comp
troller and City Clerk. and shall be numbered
to correspond with the bond to which they
shall be respectively attached. Said bonds
shall be coupon bonds with the privilege Of
registration as to principal only. of con-
version into bonds registered 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 under
the direction Of. the COMPTROLLER IN a book
provided for that purpose. Said DondE shall
Issued
said act Of the Legislature and OF this ordi-
nance and shall be In such ;i, form as the h,
shall by resolution provide.
Section 3. In order to redeem said bonds
A. maturity I sinking s fund h y hereby estSe
ing the term Of said bonds the amount col
lected by special tax Of moi. less than 3
per cent. upon the principal of said bonds
which shall be raised assessed and collected
In the annual tax levy of the city.
Section 4. The interest on said bonds
hereby authorized to be issued shall he raised
by a special tax annually levied and col
lected In like manner other taxes are
raised. levied and collected by the city and and
bonds shall be so raised, levied and collected
in each year.
lie or private sale. but for not less than par.
, Section This ordinance shall take effect
Immediately.
p c. oBRIEN,
President OF Common Council
Presented to the Mayor for his approval
September 3. 1914.
ALEXANDER ARCHIBALD.
City Clerk
Approved September s. 1914.
JACOB HAUSSLING.
Mayor
The foregoing ordinance was presented in
Common Council on Friday evening. Septem-
Der 4, 1914, on third reading and final pass
age, was passed and duly signed by the
Mayor and is therefore a law.
seD7-5t