The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1915-03-13
ORDINANCE NO. 1913.

AN ORDINANCE authorizing the issuing of
bonds of the city of Pleasantville in the
amount of Twenty-Five Thousand Dollars
for the purpose of providing funds where
will to pay the cost and expense of en-
larging and repairing the school building
situate on West Park Avenue, East of
West Jersey & Seashore Railroad, by re-
moving the old frame structure therefrom
and erecting and furnishing an eight room
brick addition thereto.
Whereas, the Board of Education of Pleas
a~ntville, New Jersey, has decided that 1t is
necessary to raise money to the amount of
Twenty-Five Thousand Dollars for the purpose
of charging and repairing the school build
ing situate ON West Park Avenue, East of
the West Jersey & Seashore Railroad, by re-
moving the old frame structure therefrom
and erecting and furnishing an eight room
brick addition thereto, and have prepared and
delivered to each member of the Board of
School Estimate of said city and school dist
riot a statement of the amount of money
estimated to be necessary for such purposes,
and
Whereas, said Board of School Estimate
has fixed and estimated twenty-five Thous-
and Dollars as the amount necessary for
such Improvement, and have made two GER
tifcates of such amount, one of which has
been delivered by said Board of School Esti-
mate to the said Board of Education and the
other of such certificates to the Common
Council of said city,
Be it Ordained by the Common Council of
Pleasantville
Section 1. That there shall be issued by
the city of Pleasantville under its corporate
otl4y Gl6h0a " ~ bhO IT, NNpt& - w
City Clerk and eountersigned by the City
Treasurer, bonds of said city in the amount
of Twenty-Five Thousand Dollars, for the
purpose of providing a fund from which shall
be paid the cost and expense of enlarglng
and repairing the school building situate on
West Park Avenue, East of West Jersey G.
Seashore Railroad, by removing the old
frame structure therefrom and erecting and
furnishing an eight room brick addition
thereto.
Said Bonds shall be of the denomination
of One Thousand Dollars each, numbered
from 81 to 10 both inclusive said bonds to
be called school Bonds" and bear date jan
1850; the same shall be coupon bonds and
shall bear interest at the rate of five per
centum per annum, said coupons shall have
thereon the signature in writing or litho-
igraphed of the City Treasurer.
The principal and interest of said bonds
shall be made payable at
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 sum as may be necessary for that
purpose and in addition thereto an annual
levy. sufficient for the redemption of said
bonds, the same to be placed in a sinking
fund created for that purpose 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 aud City
Treasurer are hereby authorized and empow-
cred to have such bonds executed in confor-
nifty herewith said bonds shall be sold by,
the City Treasurer to the highest bidder.
therefor at not less than their par value and
accrued interest, subject to the approval of
the Common Council.
Sec. 8. That the proceeds realized from
the sale of such bonds shall be paid to the
custodian of the school fund and shall be
paid out by him, and applied to the cost Of
making and ~effecting the improvements afore-
said.
Sec. 4. This ordinance shall take effect
Immediately.
Passed at a regular meeting of Common
Council of Pleasantville. held this first day
of March. A. d. 1915.
ARCHIE WILLIS.
President of Common Council.
NEHEMIAH ANDREWS,
City Clerk.
Approved this second day Of March. A. d.
1915.
CHAS. ]. ADAMS.
Mayor of P1easantville.