Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-01-06
CITY ADvERTIsEMESrs.

due, March Is. 1914, payable to the Drz
Dock Savings Institution Of New York.
Note for 100000. Gated September Is.
1s1S. due March 10. 1914, payable to thu
Franklin Savings Bank OF Newark.
Note for 100000 dated October 10. 1913.
Savings Bank Of Newark.
Note for $4,000. dated December Ii, 1879,
due February 10, 1914. payable to the Ss-
curity Savings Bank of Newark.
Note for $4,000, dated December Is, 1913.
que sll February 10. 1914. payable 20 the Ncrth
Ward National Bank Of Newark.
Two rotes aggregating 100000 each
dated December Is, 1918. each due Feb
ruary 10. 1914, payable TO Kidder. Peabody
and Company, OF New York.
Whereas Said notes were issued for rnoney
honestly loaned IN good fai IA to the Mayor
and common Council OF the city of Newark
equal to the principal sum thereof. and they
are now outstanding and VIII become due
within one year. and no part Of said notes
has been paid, and the city IS without
funds TO meet the same and no provision
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 ConrnaI
Council OF the city Of Newark:
Section l., That for the purpose OF paying
portion Of said notes IN pursuance Of the
authority conferred by an act OF the Legte-
lature Of the State Of New Jersey entitled
An Act authorizing the incorporated cities.
TO fund their floating indeb edness and their
matured and maturing bonds approveA
thereof and supplemental thereto. bonds ~
the city OF Newark in the aggregate prizn
oipal sum OF two million two hundred thonf
ssnd dollars (s2.20e,0o be issued. sais
amount Of bonds being less than &c a-sas
O. the amount Of said notes Issued as sforse
said.
Section g said bonds shall he Designated
Funding Bonds, Series l. and shall be Ie>
sued in denominations OF enc thousand dol
lars (s1,00e) each. or multiples thereof. ss
the purchaser shall elect. and shall be cop-
seouuvely numbered. each dated February 4,
1914 1911 psys5sls February |. 1873. bearing IN
cen uIn "a per cent? per annum. pavap1e
semi annually on the FIRST days of August
and February IN each year. both principal
and interest 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 dneness or
its equivalent. Said bones shall be executed
under the corporate seal OF the city ard
tested by the City Clerk and coupons ct
tached to said bonds shall be signed witt
the fac sinile signature Of the Cornptroiier
and shall be numbered 70 correspond With
the bond to which they shall be respectively
attaehed. Said bonds shall be coupon bonds
with the privilege Of registration as to prlr-
tered as to both principal and interest a
registra ion of the numbers Of said bonds,
the date Of said bonds, the date 81 issuins
and the time Of payment thereof shaii ee
made by, or under the direction ". the
Comptroller IN a book provided for that
purpose. said bonds shall rscfte that tirsy
were issued in pursuance Of said act Of tho
Legislature and Of this ordinance and sl5It
be IN such form as the Common Council -
said city shall by resolution provide.
Section 3. In order to redeem said bonds
ct maturity. a sinking fund 70 hereby esta5-
lished into which shall be paid annually dur
ing the term OF said bonds the amount coi-
lected by q special tax Of not less than >
per cent. upon the principal e said bonds,
which shall be raised. assessed and col
lscfed in the annual tax levy Of the city
Section 4 The interest on said boncs
hereby authorized to be Issued shall -
raised by special tax annually levied and
collected in Ike manner as ether taxes ara
raised, levied and collected by the city, and
the whole OF each years interest on eit4$
bonds shall be so raised. levied and co..
leeted IN each year.
Section s. The aforesaid bonds shall 20
soid upon sealed proposals. 10 be recaived LAP
tho Cornptroller Of the city Of Newark until
twelve o'clock noon on the nineteenth dnv
Of january. 1919, at his Office In tho CT
Hail Newark New Jersey, and the Fnid
Comptroller IS hereby direc' ed 10 advertise
the sale Of said bonds at least ten dayu ~
one or more newspapers published and cir
culated In the city OF Newark. and he -
also hereby directed 20 advertise said
notice In ore or more financial newspapers
published In The city Of New York for one
insertion In each of said papers.
Section 5. This ordinance shall tnks eftzr<
Immediately. W
The foregoing ordinance WIS presented IA
Common Council on Thuredgy, January {.
1914 YVES read twice under nnspeusiun Of k>e
rules and duly ordered to 0 third reading
JAMES y coNFEl-b3 ..Is