Five Mile Beach weekly journal., 1920-07-09
NOTICE OF
TO amend an ordinance increas'
ina the rate OF interest ON
w Boardwalk
BOndS
TO Six Per Cent
to Six Per Cent

Notice is neTeDY klNEn Vi a 15
,be introduction of an ordinance by the Board
of Commissioner of "The City OF
in the County of Cape May" IN the otats Vi
New Jersey, at the Commissioners ChampeTs
in the CITY Hall, in The City OF WILDWOOD IN
the County OF Cape May, New Jersey
TUESDAY, JULY 18th, A. d. 1920
at two f) O'Clock in the afternoon OF SAID day,
for the purpose of A AMENDING =
OF ORDINANCE No. 81, entitled IAN Orul-
nance ~appropriating the sum OF Fifty Thou
sand Dollars $50 .000.0O for the purpose oi
building and constructing a new propose9
BOARDWALK in "The City OF
in the County OF Cape May" in the State OF
New Jersey, along the beach or ocean front;
the said proposed new Boardwalk will be Dullt
and constructed of a width OF forty (4O feetln
Beach Avenue, on a line parallel to ana BIND
ing on the northwesterly line OF SAID BeacH
avenue, extending from a point ten (iU) reel
northeasterly OF Cedar Avenue 10 q point
twenty (2O feet southwesterly OF the north
easterly side line OF Montgomery Avenuei
with a length of twenty-three hundred CZoUVl
feet: the approaches to the said new proposed
Boardwalk will be ten QO feet in width ana
will be constructed on both sides OF Schellen-
ger, Lincoln, Garfield, Spicer, Spencer,
Young, Roberts and Baker Avenues, ands
with a total length of t~wenty.eight hundred
f2SOO) feet; there will be a connection OF TWEEN
ty (20) feet in width between the new and OLD
| Boardwalk which will be built and construct
ed in the northeasterly side of Montgomery
Avenue binding on the northeasterly line OF
said avenue, with alength OF six hundred ana
~twenty-eight 1929 feet; the above being the
area enclosed for the new proposed Board
| walk, approaches and connections; and au-
thorlzing the issuance OF FIFTY THOU
SAND DOLLARS (S50,000) BONDS OF said
CITY for the purpose of building and con-
structing the said new proposes Boardwalk,
approaches and connections, and providing
for the payment of the principal OF the said
ordinance was duly passed and adopted on lis
third reading and fina passage by the SAID
Board of Commissioner OF said City on De-
cember 4th, 1918.
Section 2 OF said Ordinance No. 81 reads as
follows:
'Section 2. That the said Bonds so to be is
sued as aforesaid shall be issued in the corpo-
rate name OF "The City OF Wildwood, in the
County of Cape May" in the State OF New
Jersey, shall be Coupe Bonds OF the denom-
nation OF One Thousand Dollars Sl000.0Ol
each, and numbered from one ~ 10 fifty (5O)
inclusive; dated January 18th, 1920, and ma
turing in numerical order, four az bonds on
the fifteenth days OF January OF each OF the
years 1921 to 1925 inclusive and three () bonds
on the fifteenth days OF January OF each OF the
years 1926 to 1885 ~inclusive; said bonds shall
bear interest at the rate of five () per centum
per annum, said interest shall be payable
~semi-annually on the fifteenth lays of July
and January in each year, upon the presen-
tation and surrender OF the annexed coupons
to the said bonds as they severally become
due, or if the bonds be converted into regis
tered bonds then to the registered holder
thereof; and the bonds so to be issued as afore-
said may be registered as to principal by the
holder in his name on the books OF the Treas
urer OF The City OF Wildwood, in the County
1 VI OhpCA may IT, 10 OS1oOJ LhA oaNA SSAob
ton shall be noted thereon, after which no
valid transfer thereof shall be made except on
said books and after registered transfer to
bearer. Such registration shall not affect the
n~egotiability OF the coupons which shall con-
tinue to pass by delivery; and at the request
OF the holder OF the said bond it will be con-
verted into a registered bond and the coupons
annexed thereto detached and Cancelled and
thereafter both principal and interest shall be
payable to the registered holde thereof. Both
principal and interest of the said bonds are
payable in gold coin of the United States OF
A merica OF the present standard OF weight
and hneness or It's equivalent, at the office OF
the Marine National 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 counter
signed by the City Treasurer, and the cou-
pons attached to said bonds shall bear the
fac-simile signature ofthe City Treasurer and
shall be numbered to correspond with the
plumber of the bond TO which they shall be
respectively attached"
The ordinance to be introduced on Tuesday,
noon OF said day, at the Commissioners Cham
bers, City Hall, City OF Wildwood. Cape May
County, New Jersey, will amend Section 2 in
the following particular. to wit "said bonds
shall bear interest at the rate OF SIX (6) per
centum per annum " instead OF five () per
centum per annum, as set forth in Section 2
of said Ordinance No. 81, as originally passed
as aforesaid.
And at the above time and place, any per-
son or persons interested therein will be heard
and also any person or persons interested
therein may file objections in writing with
the City Clerk OF said City on or before TUES
DAY, JULY 18th, A. d. 1920, at two () O'Clock
P. M.
Done by order OF the Board OF Commits.
ALFRED wINTERBURN,
City Clerk.
Dated June 22d, 1920.