Perth Amboy evening news., 1919-03-12

A' Distinctions under this item S te5 Gn.
sert smaller Of the above two se,.s
Ai0 Gd5 Funds in hand and ' sinking
funds or such parts thereof as are
fse gross for the inae Rasa%sns Of Cher spy th pars that at
which is included in these deductions
or otherwise deducted. Under this
item is included the proceeds. on
pay any part Of the gross Indebted
ness and the estimated proceeds Of
bonds or notes which have been au-
thorized 4 such stimated P=foc e91 Is
(e) Amount included in the surrent
taxes levied for the payment of any
part of the gross indebtedness otner
h included in these deduc-
Total deductions .......s .450.15
C. The Net Debt.
, The net debt of the municipality as
determined by dedueting the deductions
as stated in subdivision B from the
gross debt stated in subdivision A is
as follows: n
Gross debt .s4,172.S15.o0
Deductions z'.vo'dSv
D. Average Assessed Valuation.
The three next preceding assessed
valuations of the taxable real prop
erty Qncluding im~provements) of the
municipality n the average thereof
is as follows:
1916 Assessed valuation Of such real a
isi7 Assessed valuation Of such real
property .s1s,516; $4,000
1918 Assessed valuation Of of such 20 real al
Average of such assessed Valuations
$19,356, 1890
! e. Percentage of net lei to aver
age assessed valuation.
computed under subdivision c hereof
bears to the average of the assessed
valuations computed under subdivision
ID hereof is as followS:
1857 plus per cent.
was presented and ordered entered in
the minutes.
The clerk reported that the mayor
had returned approved.
Resolution to demolish building at
43-45 Broad Street;
which was ordered filed.
The following resolution by Mr..
Be it resolved. that the First Nation
al Bank, Perth Amboy Trust
and the Raritan Trust Company, be
re-designated as repositories OF the
general account and sinking fund, and
the Collector, City Treasurer and city
IClerk are hereby directed to deposit
all moneys belonging to the said ac-
counts in the above named lnstltu-
ltions. -
was introduced, and adopted by the
following vote. Yea-Wilson. waters.
Andersen. Clark, Riedy, Grouse. Nay
None. Mr.. Patten not voting.
The following resolution by MI
Waters:
Whereas. in anticipation of the re,
ceipt of Tax Revenue due and unpaid
which became delinquent on the 2Oth
day of December. 1918. it will be neces-
sary to borrow money to meet the
lawful expenditures n approprla-
lions as provided by Chapter 1872, p. L..
1917, as amended.
Now, therefore. be it resolved. that
Tax Revenue Bonds in the am mount 9t
bear interest at the rate not exceed
ing 6 per cent per annum.
Be il further resolved, that the City
Treasurer be and hereby is authorized
to borrow such sums on account there
of as may be needed from time TO time
at the best obtainable rate of inter-
est.
was introduced, and adopted by the
following vote: Yea-Wilson, Waters.
Patten. Andersen, Clark. Riedy, Grouse.
The following resolution by Mr..
Waters:
Whereas. in anticipation of the re.
ceipt of Tax Revenue due and unpaid
which became delinquent on the 2Oth
day of December. 1917, 1t viii be neces-
sary to borrow money to meet the law
full expenditures and appropriations as
provided by chapter 1s2AP. L. 1917. as
amended.
Now, therefore be It resolved that
Tax Revenue Bonds in the moun of
$40, 900 be issues. Said bonds to bear in
terest at the rate not exceeding 6 per
cent. per annum.
Be It further resolved, that the City
Treasurer be and hereby is authorized
to borrow such sums on account there
of as may be needed from time to
time at the best o~btainable rate of in
tereSt.
was Introduced. and adopted by the
following vote: Yea-Wilson, Waters,
Patten, Andersen, Clark. Riedy. Grouse.
Tba foIiovinp resolution by Mr..
Waters:
Whereas, in order to provide funds
for current expenses for the fiscal year
beginning January LIST, 1919.
Re il resolved, that tax anticipation
bonds in the amount of 5000, 100000 be
issued, the said bonds to bear interest
at a rate not exceeding 6 per cent per