Newark evening star and Newark advertiser., 1916-01-22
SOUTH ORANGE VILLAGE NOTICES

/
s4s,s3s.21. all of which obligations are to
fall due within year
And whereas 1t is deemed advisable that
said obligations be paid off by the said vii
lage and that the said floating Indebtedness
| thereby evidenced be funded 10 an extent not
exceeding nmety-six and two-thirds per
| centum thereof. under and by virtue of the
! provisions of an act of the Legislature of
/ the State Of New Jersey, entitled An act
authorizing cities. towns, townships bor-
oughs, villages and improvement commits
debtedness and their matured and maturing
/ bonds. approved April p, 1915. being
Chapter ass OF the Laws of 1915:
Be 1t ordained by the Board of Trustees of
of Essex:
! l. That for the purpose of paying off the
! temporary obligations of said village. as
hereinaboye set FORTH there lie issued, under
and by virtue Of the provisions of the above
reeited act bonds Of the said village aggre-
eating the sum Of SCI, 900.
/ .. Said bonds shall be issued In denomi-
nations Of $1,000 and shall be numbered
serially from / to 61 They shall have
coupons attached for the semi-annua pay
ment of interest, which shall be executed by
j the facsimile signature of the village treas
urer and shall bear interest at the rate of
four and one-half per oentum per annum.
payable semi-annually; said bonds shall con-
tain a recital that they are issued In pur-
suance OF the act of the Legislature herein
above mentioned and of this ordinance to-
gether with a recital OF the date upon which
ar r'i.qnee shall hRNa cen adopted.
They shall be denominated street improve
/ sl4attt iat4tliE bBtIIS tud SEHll be ISSUED IN
such form and shall be sold al public sale In
such manner as shall be prescribed by resolu-
ton Of this board.
rhaf SAID bonds shall mature as fol-
l lows: Nos l to 8. inclusive, on the first
aa5 ii January, 1917; Nos. . to Y, inelu-
sye. ON the first day of January 1913: Nos.
13 To l9, inclusive, the first day of jan
Bary. 1912. Nos 20 to %. inclusive. on the
first day of January 1920; Nos q to 33,
inclusive, on the first day of January, 1921;
&os. "a 10 40 inclusive, on the first day of
January 1922; Nos. Al TO a, inclusive, on
tue nrst day OF January 1928; Nos 48 TO %,
inclusive, on the first day of January, 1924,
Nos, 80 10 6l inclusive, on the first day of
January, 1926.
A. That there shall be paid to the COM
missioners of the sinking fund of the Village
of South Orange In each year. for the pur-
pose OF creating a sinking FUND for the re, re,
demption OF said bonds at maturity, all
moneys paid to the financial officers of said
village by property holders on account of
assessments, in anticipation of the collection
Of which the bonds herein provided for shall
in part have been issued, and In addition
thereto the sum of $1706.75 per annum, to
be raised through the annual tax levy of
said village, provided that II in any year the
aggregate of said assessments and of said
sum of s1,706.75 shall be less than three
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 the said assessments and said
sum of S1,706.75 shall aggregate three per
cent. Of the principal of said bonds There
shall be raised by taxation in each year such
sum of money shall be necessary to pay
the interest on said bonds falling due In such
year.
5. This ordinance shall take effect imme-
diately.
Notice is hereby given that a meeting of
the Board of Trustees of the Village of South
Monday, February q. 1916, at 5 clock
D. m, at which time and place the said board
will proceed to consider said ordinance.
NJ. A. FIrZSINMONS,
Village Clerk