Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-01-31

ORDINANCE Oh Flfst hchuhhh.
Notice is hereby given. that at meeting
South Orange. held on Monday. January y
1914. All ordinance was presented and read
u An ''o ordinance ' to authorize the issue OF
bonds Of the Village Of south Drange i
Whereas. The village or South Orange
has heretofore issued It's ooligation IN the
sum of $40, $685. for money honestly loaned
TO II in good faith, for the following pur-
poses and In the following amounts, to WIZ
cnarsesbe -" against the village at large for
street improvements within said village S.
i for which 81 sa pr GS TO
January /, 1913, the sum of SO, 4652 "a
2. For the purpose OF paving for spoh
assessed against property owners benefited
BY said improvements In anticipation Of the
receipts of said assessments, said assessments
being payable in instruments, the sum or
3, For the purpose of paying the portion
village al large for the Construction Of the
sewer in said village. known as the stone.
house Brook Storm Sewer. the sum OF
And whereas. IT is deemed adyissb l,;,, that
said obligations be paid on by sag vllisss,
thereby evidenced be funded. to nm, extent
no. exceeding s6 2-s per cent; thereof. under
az ana tb by yas or the e. the Of New
Jersey, entitled "An act authorizing the N
corporated cities towing towfshiPs eoro ssis
floating Indebtedness and their nlatured and
maturing bonds" approved March ~, 1889
and amendatory thereof
5e II ordained by the Board of Trustees Of
the Village of South Orange, IN the County
T. That for the purpose of paying of ths
Temporary obligations of said village, as here,
bv virtue of the provisions of the above
recited act bonds Of the said village agsre-
eating The ,o snm s 9 iSs s. Issued in deno
nations of $1,000, and shall be numbered
seriaily from to 2s they shall n maze e eoS
ln1,ent OF interest (Which coupons shall be exc
cuted by the facsimile signatures o. tbs
al Sbe option OF the purchaser Of said bonds
they may be issued in registered form with.
out coupons; said bonds shall bear interest,"
at the rate OF 5 per cent. per annurn, pay
able semi-annually. and shall contain 2 re
cital that they. are issued In pursuance OF tho
act OF the Legislature hereinaboye men
Toned and of this ordinance. togethsr With
a recital OF the date upon which this ordi-
nance shali have been adopted. -
g. That said bonds shall mature as fol.
lows:
Nos. to s. inclusive on the first day Of
Nos. . to IL, inclusive, on the first day OF
Nos. 10 to is, inclusive on the first day Of
Nos. 10 to is, inclusive, on the first day OF
January, 1919.
Nos fs TO 2i, inclusive. on the first day Of
January. 1890.
Nos. az 70 "a, inclusive. the frst day Of
January 1891
Nos. Is to 90. inclusive. on the first day Of
January, 1898.
nissioners q the sinking fund OF the VII
lage of South Orange, In each year, for the
Redemption OF said bonds at maturity, all
moneys paid to the financial officers OF said
village by property holders account OF
assessments in anticipation of the collec-
ton OF which the bonds herein provided for
shall In part have been issued. and in ad-
dition thereto the sum of $s36.07 per an
num- TO be raised through the annual tax
levy Of said village, provided that II In any
year the aggregate of said assessments and
az said sum of $s35.e7 shall be less than
3 per cent. of the principal of said bonds,
then and in that event there shall be raised
In the annual tax levy such additional sum
OF money as with said assessments and said
sum Of ss36.07 shall aggregate per cent
Of the principal OF said bonds.
nances Inconsistent with the provisions OF
this ordinance be and the same are hereby
8. That this ordinance shall take erec.
Immediately.
Notice IS hereby given that meeting Of
the Board of Trustees of the Village Of
South Orange will be held In theN
Council Rooms In the Village Hall. at eigM
o clock p. M, Monday, February 49, 1914 eC
proceed to consider said ordinance
n. A. FITzsIMMONS,
jan24,sl Village Clerk
I