Five Mile Beach weekly journal., 1920-07-23
ORDINANCE No. 1O7
AN ORDINANCE TO AMEND AN oHDi'
NANCE ENTITLED:

o-pnrNANc appropriating the sum OF
Fifty Thousand Dollars (S5O,OO0.OO IorIne Pua-
pose OF building and c~onstr9cMng 1-viidwpod
In the County OF Cape May" In tne otate :.
New Jersey, along the Beach or ocean ~ Uni
the said proposed new Boardwalk Will pe ~ p9 ~
and constructed of a width OF forty (4U ieebln
Beach Avenue on q line parallel 10 anu pIhur
ing on the northwesterly line OF salu Dea ~
avenue, extending from a point Ten wv lSSt
northeasterly OF Cedar Avenue TO q PoiuU
twenty (2O) feet southwesterly OF the norIn-
easterly side line OF Montgomery AVenue'
with a length of twenty-three hundred Cz5Vol
feet: the approaches to the said new PROPOSED
Boardwalk will be ten Q0) feet in width anu
will be constructed on both sides OF Scnehen-
ger, Lincoln, Garfield, Spicer, Spencer, Young,
Roberts and Baker Avenues and wild a tota.
length of twenty-eight hundred C2SOU Ieet,
there will be a connection OF twenty (2Ol leSt
in width between the new and old BOARDWALK
which will be built and constructed IN tne
northeasterly side OF Montgomery Avenue
binding on the northeasterly line of SAID ave-
nue., with a lengGh OF six hundred ana twenty,
eight feet; the above being the area encloseu
In the new proposed Boardwalk, approaches
and connections; and authorizing the lssu-
ance OF Fifty Thousand Dollars (S0U,UUO wv
Bonds OF said City for the purpose OF building
and constructing the said new proposeq
boardwalk, approaches and connections and
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 Commits
sioners OF THE City OF Wildwood, In the
County OF Cape May" New Jersey, on Decem'
Der 4, 1919.
The Board OF Commissioner of "The City OF
Wildwood, in the County OF Cape May" in the
State OF New Jersey, do ordain:
Section l. That "Section 2" OF the above
entitled ordinance be and the same is hereby
amended to read as follows:
Section 2. That the said bonds so to be IS
sued as aforesaid shall be issued in the corpo-
County of Cape May" in the State of New
Jersey, shall be coupon bonds OF the denoml-
nation OF One Thousand Dollars ($lOOO wy
each and numbered from One ~ to Fifty (5O
inclusive, dated January Is. 1920, and matur.
ing 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 1888 incluslve; SAID
SHALL BEAR INTEREST AT THE RATE
OF SIX 10y E 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 DOnOs
ss they severally become due, or If the bonds
be converted into registered bonds then to the
registered holder thereof; and the bonds so to
be issued as aforesaid may be registered as 10
principal by the holder In his name on the
books of the Treasurer of 1.-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 registra'
ton shall not affect the negot1ability OF the
coupons which shall continue to pass by de-
livery; and at the request OF the holder OF the
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 aDd
interest of the said bonds are payable in gold
coin of the United States of America OF the
present standard OF weight and fineness 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 tc
which they shall be respectively attached.
Section 2. That this ordinance shall take
effect on its final passage and publication as
provided by law.
OLIVER BRIGHT,
+. Z. SMITH,
Commissioners
Passed first reading July 13, 1920.
Passed second reading July ID, 1920.
To have its third reading and final passage
by the Board ofCommissioners OF 1.-THE City OF
Wildwood, in the County OF Cape May,' on
July q, 1920, at 2 P. M.
Attest-Alfred Winterburn, City Clerk.