Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-07-08
CRY ADVERTISEMENTS


AN ORDINANCE AUTHORIZING THE IS
suANCE OF BONDS OF THE MAYOR
AND COMMON COUNCIL OF THE CITY
OF NEWARK IN THE AGGREGATE
SUM OF So, 900. 900 FOR THE PURPOSE
OF PAYING A PORTION OF CERTAIN
TEMPORARY LOAN BONDS OF SAID
WITHIN ONE YEAR. AND PROVIDING
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 its temporary loan ponds In the
aggregate principal amount of three million
dollars $4,000. 000), dated June 20. 1914 and
payable September 20, 1914. ST. 100000 of
which said bonds. bearing interest at the rate
of 3.25 per centum per annum were sold TO
Messrs. Bond Goodwin, and 5000. 900
of which bonds were sold to Messrs. Der
nard Scholle g. Company. 100000 of said
5000, 900 bonds bearing interest at the rate OF
2.61 per centum per annum; 100000 bearing
interest at the rate of 2.72 per centum per
annum. $1,000 bearing interest at the rate
of 2.s1 per centrum per annum, 100000 bear
ing interest at the rate of 2.S9 per centum
per annum, 100000 bearing interest at the
rate of 2 81 per centum per annum and $780,
Ooo bearing interest at the rate of S.01 per
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 of said temporary loan bonds
which now outstanding and viii become
bonds 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 bonds.
NOW, THEREFORE,, BE 1T ORDAINED.
BY the Mayor and Common Council of the
City of Newark:
Section l. That for the purpose of paying
a portion Of said temporary loan bonds in
pursuance of the authority conferred by an
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 floating in
debtedness and their matured and maturing
bonds" approved March %, 1899 and the
acts amendatory thereof and supplemental
thereto. funding bonds of the City of Newark
In the aggregate principal sum of $2,900,0 600
be issued said amount of funding bonds being
o6 q 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 q and shall
be issued in the denomination Of $1,000 each,
and shall be consecutiyely numbered from
j to $500. inclusive; shall be dated Septem-
Der fifteenth 1914, payable September fifteenth,
1914, bearing interest at the rate of four
annun payable semi-annually on the ff-
teenth days of March and September in each
year, both principal and interest of said
bonds being payable at the National State
the United States OF America Of the present
standard of weight and fneness or its
equivalent Said bonds shall be executed
under the corporate seal of the city and
attested by the City Clerk. and the couponf
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 oil
| registration as TO principal only, or of con.
version into bonds registered as TO boil