The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1915-05-22
ORDINANCE NO. I'll.

AN. ORDINANCE authorizing the issuing of
bonds of the City of Pleasantville in the
amount of Forty-eight Thousand Dollars
for the purpose of providing funds where
with to pay the cost and expense of pur-
chasing land in said city described as fol-
lows Situated at the Southeast corner
of Third and Washington Avenue, running
eastwardly on Washington Avenue 1913 feet
by a depth of las feet, belonging to Charles
L. Burkard, and the adjoining plot of
ground, running eastwardly on Washing
ton Avenue so feet by a depth of 800 feet,
belonging to Reuben Adams, and the erec-
tion and equipment of a structure thereon,
all to be used for public school purposes.
Whereas, The Board of Education of
Pleasantville, New Jersey, has decided that
it is necessary to raise money to the am
cunt of Forty-eight Thousand Dollars for
the purchase of lands in said city set forth
in the title of this Ordinance, and the
erection of and equipment of a structure
thereon, all to be used for school purposes,
and have prepared and delivered to each
member of the Board of School Estimates
of said city and school district a statement
of the amount estimated to be necessary
for such purposes, and
Whereas, Said Board of School Esti-
mates has fixed and estimate that Forty
eight Thousand Dollars as the amount nee
essary for such improvement and have
made two certificates of such amount, one
of which has been delivered by said Board
of School Estimate to the said Board of
Education and the other of such certif-
Gates to the Common Council of said City.
Be it Ordained by the Common Council of
P~leasantville
Section /. That there shall be issued by
the City of Pleasantville, under its corporate
seal, signed by the Mayor, attested by the
City Clerk and counters gned by the City
Treasurer, bonds of said city to the amount
of Forty-eight Thousand Dollars for the pur-
pose of providing funds wherewith to pay
the cost and expense of purchasing land in
said city described as follows:
Situated at the Southeast corner of Third
and Washington Avenues, running eastward
ly along Washington Avenue 1853 feet by a
depth of 145 feet, belonging to Charles 1.
Burkard, and the adjoining plot of ground
running eastwardly along Washington Ave
nue. 80 feet by a depth of 800 feet, belonging
to Reuben Adams, and the erection land
equipping of a structure thereon, all to be
used for public school purposes.
Said bonds shall be of the denomination of
81, 900 each, numbered from 76 to 1913, both
inclusive said bonds to be called School
Bonds, to bear date of June LIST. 1915.
Nos. 76 to 80 both inclusive to be payable
June LIST, 1925.
Nos. 81 to s5 both inclusive to be payable
Nos. Sc to 90 both inclusive to be payable
June LIST, 1885.
Nos. SO to SO both inclusive to be payable
Nos. 100 to 1o6 both inclusive to be payable
June LIST, 1945.
Nos. 1o7 to ia both inclusive to be payable
Nos. lis to 1913 both inclusive to be payable
June LIST, 1855.
Said bonds shall be registered or coupon
Olu anu ohdll DCal InlCi0oJ at II ~ " L
5 per centum per annum, payable semi-annu-
ally on the first day of December and June
of each year: Said coupons shall have
thereon the signature in writing or litho-
graphed Of the City Treasurer, the principal
and interest shall be payable at the First
National Bank of the City of Pleasantville,
and as a provision for the payment Of the
interest as the same shall become due and
payable, the Common Council shall provide
by taxation in the annual tax levy of said
City such sums as may be necessary for that
purpose and in addition thereto an annual
levy sufficient for the redemption of said
bonds as they severally mature, the same to
be placed in a sinking fund for that pur-
pose and the credit and faith of the City
of Pleasantville and the inhabitants thereof
are hereby pledged for the faithful payment
of said bonds and the interest thereon as the
same shall become due and payable.
Sec. 2. The Mayor, City Clerk and IRA
surer are hereby authorized and directed to
have such bonds executed in conformity here
with said bonds shall be sold by the City
Treasurer to the highest bidder therefor at
not less than par value and accrued interest,
subject to the approval of Common Council.
Sec. 81 That the proceeds realized from
the sale of such bonds shall be paid to the
custodian of the school fund and the same
shall be paid out by him, applied to the cost
and expense of e~ffecting the improvement
aforesaid.
Sec. 4. That this Ordinance shall take
effect Immediately.
Passed at a regular meeting of Common
Council held this third day of May, A. D.
1915.
President of Common Council.
Attest:
NEHEMIAH ANDREWS, City Clerk.
Approved this 9th day of May, A. D.. 1915.
CHARLES ]. ADAMS,
Mayor of Pleasantville.