Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-01-02
CITY ADVERTISEMENTS

AN ORDINANCE authorizing the issuance of
| bonds of the Mayor and Common Council
of the city of Newark in the aggregate sum
of $4,000, 900 for the purpose of paying a
portion of certain notes temporary loan
bonds of said city, which are to become due
within year and providing for the pay
ment of the principal and interest Of said
bonds.
! Whereas. The Mayor and Common Council
| of the city OF Newark has heretofore issued
| It's notes temporary loan bonds In the
aggregate principal amount of two million
three hundred thousand dollars G2, o0,oOo),
Note for $1,000 dated April is, 1913.
due February l. 1914, payable to L. Won
Hoffman and Company of New York;
dated April 16, 1913 each due February 10.
1919, payable to Brown Brothers. of New
Note for $4,000, dated September 4, 1918,
due March :. 1914. payable to Brown
Brothers, Of New York.
due March 3. 1914; payable to Brown
dated September Il, 1918 each due March
y, 1914. payable to Brown Brothers, of New
Note for $50 600. dated September 10 1913,
due March Is. 1914 payable to the Dry
Dock Savings institution of New York.
Note for $40. 600 dated September 10.
1913, due March IT, 1914 payable to the
Franklin Savings Bank of Newark.
Note for 100000, dated October 10; 1913,
Savings Bank of Newark
Note for $4,000, dated December 10, 1913,
due February 10; 1914 payable to the Sc
Note for $50, 900. dated December 1 8, 1913.
due February 10 1914, payable to the North
Two notes, aggregating 100000. each
dated December is, 1913, each due Feb
rq n TO- 1914 payable v to Kidder Peabody
Whereas, Said notes were issued for money
honestly loaned in good faith to the Mayor
equal to the principal sum thereof. and they
are now outstanding and Will become due
within one year and no part OF said ,t notes
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 Common
Council of the city of Newark:
Section 1. That for the purpose of paying
a portion of said notes in pursuance of the
authority conferred by. an act of the Legis-
IAN Act authorizing the Incorporated cities
towns, townships and boroughs OF this State
to FUND, their, floating indebtedness and their
matured and maturing. bonds" approved
March "a 1899, and the acts amendatory
thereof and supplemental thereto bonds Of
the city of Newark in the aggregate prin-
oipal sum of two million two hundred thou
sand dollars (s2.2O0,0O0l be issued. said
o. the amount of said notes issued as afore-
said.
Section 2. Said bonds shall be designated
u
sued in denominations of one thousand dol
lars $4,000 each, or multiples thereof. as
secutlveiy numbered. each dated February /,
! 1914 payable February l. 1914, bearing in
| terest at the rate of four and one-half per
centpm ar per cent? per annum.. payable
semi annually on the first days of August
and February in each year, both principal
Bank Of the ey of se
coin of the United States of America of the
present standard of weight and hneness or
| lee a,,ttiu Gafd ho1 ha avg Tod
under the corporate seal of the city and
signed by the Mayor and Comptroller and at
tested by the City Clerk, and coupons at
tached to said bonds shall be signed with
the fac smile signature of the Comptroller
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 prin-
cipal only, or of conversion into bonds regis
tered as to both principal and interest. A
registration of the numbers of said bonds,
the date Of said bonds, the date Of issuing
made by, or under the direction of. the
Comptroller In book provided for that
were issued in pursuance of said Act of the
Legislature and of this ordinance and shall
said city shall ali by resolution provide. y
| Section 3. In order to redeem said bonds
at maturity, sinking fund is hereby estab-
lished into which shall be paid annually dur
ing the term of said bonds the amount col
lected by special tax of not less than
per cent. upon the principal Of said bonds,
(which shall be raised, assessed and col
Iiected in the annual tax levy of the city.
Section 4. The interest on said bonds
hereby authorized to be issued shall be
raised by a special tax annually levied and
collected in like manner other taxes are
raised levied and collected by the city. and
the whole of each years interest said
bonds shall be so raised. levied and col
Ilected In each year.
Section s. The aforesaid bonds shall be
sold upon sealed proposals. to be received by
the Comptroller of the city of Newark until
twelve o'clock noon on the nineteenth day
Of January, 1914 at his office in the City
Hall, Newark New Jersey, and the said
Comptroller is hereby directed to advertise
the sale of said bonds at least ten days by
publication for at least two insertions il
lone or more newspapers published and cir
culated in the city of Newark and he Il
also hereby authorized to advertise sale
notice in one or more financial newspaper
published in the city Of New York for one
insertion in each of said papers.
Section 6. This ordinance shall take effec
Immediately.
The foregoing ordinance was presented II
Common Council Thursday, January 1
1874, was read twice under suspension OF thu
rules and duly ordered to third reading
JAMES F. coNNELLN.
ian2-5t City Clerk.