Five Mile Beach weekly journal., 1920-06-25
NOTICE OF
IN amend an ordinance increas-
ing the rate of interest on
Boardwalk
Bonds
TO Six Per Cent

Notice is hereby given OF the intehtl0n ~
the Introduction oil an 0TulI Iatn yWiidwood
in the County of Cape May" in tne otate y
New Jersey, at the Commissioners Cnam9eis
in the City Hall, in The Clty OF w an
the County of Cape May, New jersey III
TUESDAY, JULY 18th, A. D.. 1920,
,two 70, O'clock in the afternoon OF said day,
for the purpose of AMENDING
00FE ORDiNANCE No. 81, entitled IAN Orul-
nance appropriations d the me sum ~ Ole Oh f pugpose OF
building and constructing a new PI9PooSS
ROARDWALK in "The City OF
in the County OF Cape May IN o one 1'f 'front.':
the said proposed new Boardwalk Will De puile
and constructed OF a width OF forty (fOl ISSSidn
Beach Avenue, on a line parallel 70 a5u paacb
ing ON the northwesterly line OF SAID Beac1
avenue, extending from a point ten llVl leet
northeasterly OF Cedar avenue 70 d po4h'
twenty (20) feet southwesterly OF the oiu
e~asterly side line OF Montgomery, AVenuee,
with a length OF twenty-three hundred CZ9UVl
feet: the approaches to the said new pIoposeI
Boardwalk will be ten QOl ieet IN WIotn a.
will be constructed on both sides OF Schellen-
ger. Lincoln, Garfield, Spicer, 6penceri
Young, Roberts and Baker Avenues, anu
with a total length OF twenty'elght nunul1u
i2SOO feet; there will be a connection OF TWEEN,
ty (20) feet in width between the new ana GU
boardwalk which will be built ana construct
ed in the northeasterly side OF Montgomery
Avenue binding on the northeasterly line OF
said avenue, with a length OF six hundred anu
~tWenty-eight 1929 feet; the above being tne
area enclosed Tor the new proposed BOARD
walk, approaches and connections; ana au-
thor1zing the issuance OF IFTY THU,
SAND DOLLARS S5O,0OW BONDS OF salu
CITY for the purpose OF building anu COZ
structing the said new proposed Boardwalk,
approaches and connections, and providing
for the payment of the principal OF the said
bonds and the interest thereon; when saiu
ordinance was duly passed and adopted on us
third reading and final passage by the salu
Board of Commissioner OF said CltNson De-
cember 4th, 1919. &c
Section 2 OF said ordnance NO. " reaus M
follows:
sued as aforesaid shall be issued in the corpo-
rate name OF "The City OF IN tne
County of Cape May" in the State OF New
Jersey, shall be Coupon Bonds OF the denonl-
nation OF One Thousand Dollars Sl0OU0Ol
each, and numbered from one ~ 10 My (0O)
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 ~ bonus
on the fifteenth days OF January OF each otthe
years 1926 to 1885 inclusive; said bonds snail
bear interest at the rate of five () per centum
per annum, said interest shall be payable
semi.annually on the fifteenth days 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
of Cape May" New Jersey, and SUCH reglstra-
ton shall be noted thereon, after which no
valid transfer thereof shall be made except on
said books and after registered transfer 10
bearer. Such registration shall not affect the
n~egotiabilIty OF the coupons which snail con-
tinue to pass by delivery; and at the requeS
OF the holder OF the said bono 1t will be con
verted into a registered bond andthe coupons
annexed thereto detached and Cancelled and
thereafter both principal and interest snail De
payable to the registered holder thereon 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 fineness or its 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, anC
shall be numbered to correspond with the
number Of the bond TO which they snail bt
respectively attached"
The ordinance to be introduced on Tuesday
July 18th, 1920, at two ~ o'clock in the after
moor OF said day, at the commissioners Cham
bers, City Hall, City OF Wildwood. Cape May
County, New Jersey, will amend Section 2 II
the following particular. to wit: "said bonds
shall bear interest at the rate OF SIX () ptl
centum per annum"; instead OF five (5) pc
centum per annum, as set forth in Section
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 hear(
and also any person or persons interested
therein may file objections in writing will
the City Clerk of said City on or before TUES
DAY, JULY 18th, A. D. 1920, at two ~ o'clocl
p. NJ.
Done by order OF the Board OF Commits
siOners.
ALFRED WINTERBURN,
City Clerk.
Dated June 22d, 1920.