The Penn's Grove record., 1917-05-25
No. So.

W. v"
An Ordinance providing for tie purchase
or condemnation of a lot or tract of land
on the Southwesterly side of Main Street,
in the Borough of Penns Grove and the
erection of IL suitable building or build
ings thereon to be used as a Borough Hall
or a Lookup for said Borough, and for the
Borough Fire Department, and authorizing
the issuance of bonds to TIE amount of
twenty thousand dollars (S20,000.00) for the
purpose of raising money for the purchase
or condemnation of said land and the
erection of said building.
BE 1T ORDAINED by the Council of the
Borough of Penns Grove:
l. All that certain lot or tract of land
situate, lying and being on the South
westerly side of Main Street and tie South
easterly side of State Street, in the Bor-
ough of Penns Grove, and described as fol-
BEGINNING in the middle of the Pier
Road in Penns Grove at a corner of Hy-
ram II. Degrofts lot and runs thence
South forty-three degrees West two chains
sixty-eight links to another corner of Hy-
ram II. Degrofft's; thence along said
Guests land North ffty-one degrees West
forty feet CsiXty and two-tEirdS links) to
a corner in said Guests line; thence 90
North forty-three degrees East two chains
SiXty-eight links TO the middle of the Pier
Road aforesaid thence "a M said road
to the place of beginning. Containing six
teen hundredths of an acre be the same
more or less.
Stall be obtained by purchase or con-
for the purpose Of erecting a
suitable building or buildings thereon to
be used as a Borough Hall or a Lookup for
said Borough, and for the safe and proper
and care of persons confined there
IN, ana FOR the Borough Fire Department.
? Bonds TO the amount of twenty
thousand dollars ($20,Oo0.OO) shall be is
sued by tie Borough Council to provide
funds for the purchase or condemnation of
The land above described and the erection
thereon OF a suitable building or buildings
as aforesaid. which said amount of money
Is hereby deemed necessary to be raised
therefor. ~
3; Said bonds shall be duly executed
under the corporate seal of said Borough
and SLaIl be signed by the Mayor and at
tested by the Clerk. They shall bear in
terest at the rate of five per cent. per
clared = W u
a. The probable period of the use
IulheSs OF the improvement or prom
erty for which said bonds are hereby
authorized, is deemed to be fifty
years.
the taxable real property (including
lmproyements) of the Borough of
Penns Grove computed upon the
thereof in the manner provided in
section y of CLap. 252, Public Laws
1916 is $1,027, 1900;
C. The net debt of the Borough of
Penns Grove computed in the manner
provided in section IL of the act
aforesaid is $%3s,OOO.OO.
q. The statement required by section
u of the act aforesaid has been made
and filed as therein required.
.. The said bonds shall be issued in
ne sum Of one thousand dollars $4,000 )
,ach, and shall become due in annual in
Stallments of one thousand dollars 1S1O00l
each on the thirty-first day of December
u each year; the first installment becoming
Tue on December 81, 1917 said bonds shall
Dear interest at the rate of five per cent
'ef annum payable semi-annually, on the
,hlrtleth day of June and the thirty first
lay OF December of each year; the faith.
and property of the Borough of
ems Grove and the same is hereby pIedg-
~, ~ LOT me payment of the principal and
.. Said bonds shall be sold upon seal
"a proposals or at public auction, as pro
'bded IN the act aforesaid and at not less
nan par value thereof and accrued inter
81 and all moneys received from the sale
II said bonds shall be applied and used
IS provided in said act.
{. For the purpose of providing for tho
payment of said bonds at maturity and
the debt created by this or
llhance, such sum or sums of money shall
le included in each annual tax lew as
'haH be sufficient to pay the annual inter.
on said Indebtedness and each Success
We lnstallment of the principal thereof at
ShaI be issued and collected in the same
manner as other taxes are collected.
81 Inc borough Collector shall be and
re IS authorized to pay the interest on said
and each successive installment of
principal thereof as the same becomes
O.. This ordinance shall take effect i'm.
nediately. :"
Introduced at a regular meeting of the
69rough Council held May Sth, 1917.
Passed at a regular meeting OF the Ror-
'ugh Council held May 22nd, 1917.
Approved May 22nd. 1917.
SIMON CUNNINGHAM.
AO'ef. Mayor.
SeaD
The foregoing ordinance was approved
N the 22nd day of May, 1917. The bonds
authorized viii be issued and delivered af-
er the 14th day of June, 1917, and anv
,ult, actlon or proceeding to set aside or
Iefore said last mentioned date.
such bonds will not be issued If pro-
est against the same are filed under sec
ion 3, Chap. 252 p. L. 1916, unless a prom
'sition for the issuance thereof shall he
at an election under said section"