Perth Amboy evening news., 1920-04-17
CITY ADVERTISEMENT

CITY ADVERTISEMENT
An Ordinance making appropriation for
issuance Of sse5,OOO school Bonds Of tho
City of Perth Amboy.
city of Perth Amboy has decided that it
Is necessary to raise the sum of Four Hun
dred and Fifty Thousand. ts45o.ooo Dollars
for the purpose of erecting and furnishing
q school building ON the block bounded by
Hall Avenue. Alta Vista Place. Arnold Ave-
nue. and jacques Street, In said City, aud
has, pursuant to the provisions Of an act
Of the Legislature of the State of New
thorough and efficient system Of free pub
lie schools, and TO provide for the main
tenance., support and management thereof
approved October 10. 1908. and the acts
amendatory thereof, prepared and delivered
to each member OF the Board of School
statement of the amount of money estimated
to be necessary for such purpose, and
Of the City of Perth Amboy has nxed and
determined the amount necessary for such
purpose at Four hundred and fifty thousand
ss4eo.oooo Dollars, and has made two certi-
fcates of such amount. one OF which was
duly delivered to the Board of Education
and the other to this Council.
Now. Therefore. Be 1t Ordained by the
City Of Perth Amboy, as follows.
section ,a 7 l.; That there is hereby appro-
nishing a school building ON the block
bounded by Hall Avenue. Alta Vista Place.
City of Perth Amboy. said building to be
Of non-freproof construction as defined I'm
outer walls Of ' Brick s"o or Other ep h sayi haxsns
~bustibie material, but failing to conform,
in other respects to the specifications of a
fire proof building as defined In said act,
the sum of Four Hundred and fifty thou
sand Cs450.oool. Dollars.
Section 2. That there be issued for the
purpose of raising a part of said appropris-
ton bonds In the corporate name of the
W. hundred and twenty-five thousand
ts225.oOo), Dollars. which bonds shall be
designated as school Bonds" shall bear
date OF NAV l. 1920 shall he Of the dA-
nomination of One Thousand (sl.0oO) Dol
lars each. numbered l to 225. both inclusive
annum payable semi-annuaily on the first
in each year. and shall mature in numeri-
cal order as follows: six bonds on May LIST
OF each 0 Of the eo Years IL lss n. to 1899; both in,
| the years 1884 to 1850. both inclusive. Said
bonds shall be signed by the Mayor and
the interest coupons thereto attacAed sSaii
Of the City Treasurer. The principal and
interest of said bonds shall be payable at
the office OF the City Treasurer in the City
Section 9. The property. faith and credit
OF the city are hereby and shall remain
principal and interest OF said bonds. The
City, Council of the City of Perth Amboy
shall remain outstanding, cause to be as
sessed. raised and collected by tax in the
SAINT manner as Otnef city taxes are or
shall be raised an dcollected the amount
necessary to meet the interest to accrue
on said bonds in the ensuing year and the
principal Of such bonds as shall mature in
said year..
Section 4. The determination Of whether
the remainder of the total amount herein
before appropriated shall be raised by tax
or provided for by the issuance Of school
bonds Is hereby postponed until further
action with reference thereto shall be taken
by this Council.
Section s. Said bonds shall be issued in
such form as may be hereafter prescribed
shall be sold upon sealed proposals after
notice published at least twice; the first
publication to be at least ten DAYS prior
to the sale, in the Perth Amboy Evening
News. a newspaper published In the City %
Perth Amboy. and also once in the Bond
Buyer, a financial paper published in tho
City of New York. Such fsotiee shall be
in such form as the City Clerk shall deem
best and he is hereby authorized TO TX the
Section G.. The proceeds of the sale Of
said bonds shall be paid to the custodian OF
school moneys and applied solely TO the
purpose herein set forth.
The foregoing ordinance was introduced.
and passed on first reading at the meeting
OF the Council of the City of Perth Amboy.
N, j., held April 5th. 1920. and will be
taken up for second and third readlngs
and final passage at the meeting OF ths
Council Chamber. City Hall. Perth Amboy,
N ].
Dated. April .. 1920.
ARTHUR E. GRAHAM.
,.sz City Clerk.