Five Mile Beach weekly journal., 1920-08-06
ORDINANCE No. 1O7
AN ORDINANCE TO AMEND AN oRDI-
NANCE ENTITLED:

appropriating the sum OF
] Fifty Thousand Dollars ts50,OU1DOl IOrthe pul-
pose Of building and Constructing uI IST
In the County OF Cape May IN the State u
New Jersey, along the Beach or ocean IRONY
the said proposed new Boardwalk VIII oe pult
ana constructed Of a width OF forty t4l feeti
Beach Avenue, on a line parallel 10 ana Dlhu1
ing on the northwesterly line OF sAlo Beaen
avenue, extending from a point yen siVy noigntt
northeasterly OF Cedar Avenue 70 a po!lt
twenty f20) feet southwesteFly OF the AOItn-
easterly side line OF Montgomery AFenues
with a length of ~twenty-three hundred tL5VNl
teet. The approaches to the said new proposed
Boardwalk will be ten (l0l feet IN "ldth anu
Will be constructed on both sides OF ScneLen-
ger, Lincoln, Garfield, Spicer, Spencer, 1oungi
Roberts and Baker Avenues aud with a Total
length OF twenty-eight hundred tzSgl ieet,
there will be a connection OF twenty lZU ieet
in width between the new and old BoardWalk
which will be built and constructed in the
northeasterly side OF Montgomery Avenue
binding on the n~ortheasterly line OF said ave-
nue., with a length OF six hundred and twenty
eight feet; the above being the area enclosed
in the new proposed Boardwalk, approaches
and connections and authorizing the lssu-
ance OF Fifty Thousand Dollars tSJOs0U0 OOl
Bonds of said City for the purpose OF building
and constructing the said new proposed
Boardwalk, approaches and connections ana
providing for the payment OF the principal OF
the said Bonds and the inter est thereon; which
said ordinance was adopted on third reading
and final passage by the Board OF Commis-
sioners OF "The City OF Wildwood, IN the
Der 4, 1918.
The Board OF Commissioner OF "The City OF
Wildwood, in the County OF May" In the
State of New Jersey, do erdain:
Section /. That "Section 2" OF the above
entitled ordinance be and the same is hereby
amended to read as follows:
Section 3 That the said n so to be IS
sued as aforesaid shall be issued in the eorpo-
rate name of 'sThe City of WILDWOOD, In the
County OF Cape May in the State OF New
Jersey, shall be coupon bonds of the denomi-
nation OF One Thousand Dollars $4,000 Ol
each and numbered from One ~ to Fifty l5Ol
inclusive, dated January Is. 1920, and matnr-
ing in numerical order, four a. bonds on the
fifteenth days OF January OF each OF the years
1921 TO 1925 inclusive and three 81 bonds on
the fifteenth days OF January OF each OF the
years 1925 TO 1888 inclusive; SAID BONDS
SHALL BEAR INTEREST AT RATE
OF SIX (6l PER CENTUM PER NM
said interest shall be payable semiannually
on the fifteenth days of July and January in
each year, upon the presentation and surren-
der OF the annexed coupons to the said bones
as they severally become due, or II the BONDS
be converted into registered bonds then to the
registered holder thereof; and the bonds SO 10
be issued as aforesaid may be registered as 10
principal by the holder in his name on the
books OF the Treasurer of "The City OF Wild
wood. in the County OF Cape May New Jer
sey, and such registration shall be noted
thereon. alter which no valid transfer thereof
shall be made except on said books and after
registered transfer to bearer. such reg1stra'
ton shall not affect the DegotIability OF the
coupons which shall continue to pass by de-
/ II at ibC IC4dSob "a NAS AOAoNA - 49,
said bond it will be converted into a registered
bond and the coupons annexed thereto de-
tached and Cancelled and thereafter both prin'
cipal and interest shall be payable to the reg.
istered holder thereof. Both principal and
interest of the said bonds are payable in gold
coin of the United States OF America OF the
present standard OF weight and hneness or its
equivalent, at the office OF the Marine Ma
tional Bank of Wildwood, New Jersey. Said
bonds shall be executed under the corporate
seal of said city and be signed by the Mayor
and City Clerk and countersigned by the City
Treasurer; and the coupons attached to said
bonds shall bear the facsimile signature OF The
City Treasurer and shall be numbered to cor
respond with the number OF the bond to
which they shall be respectively attached.
Section 2. That this ordinance shall take
effect OIL its final passage and publication as
provided by law.
Passed first reading July ID, 1920.
Passed second reading July ID, 1920.
Adopted on third reading and final passage
OIL July p, 1920.
OLIVER BRIGHT,
+. E. SMITH,
Commissioner
Attest-Alfred Winterburn, City Clerk.