Five Mile Beach weekly journal., 1920-07-30
ORDINANCE No. 1O7
AN ORDINANCE TO AMEND AN oRDI-
NANCE ENTITLED:

AN ORDINANCE appropriating the sum of
Fifty Thousand Dollars (S50,O00.00) for the pur-
pose OF building and constructing a new pro-
posed Boardwalk in "The City of Wildwood,
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 built
and constructed OF a width OF forty (40) feet in
Beach Avenue, on a line parallel to and bind
ing on the northwesterly line of said Beach
avenue, extending from a point ten Q0) feet
northeasterly OF Cedar Avenue to a point
twenty coy feet southwesterly of the north
easterly side line OF Montgomery Avenue,
with a length OF twenty-three hundred (2300)
feet; the approaches to the said new proposed
Boardwalk will be ten (l0) feet in width and
will be constructed on both sides OF Schellen-
ger, Lincoln, Garfield, Spicer, Spencer, Young,
Roberts and Baker Avenues and with a total
length OF twenty-eight hundred (2800) feet;
there will be a connection OF twenty (20) feet
in width between the new and old Boardwalk
which will be built and constructed in the
northeaSterly side OF Montgomery Avenue
binding on the northeasterly 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 issu-
ance OF Fifty Thousand Dollars $4,000 0)
Bonds OF said City for the purpose OF building
and constructing the said new proposed
Boardwalk, approaches and connections and
providing for the payment OF the principal OF
the said Bonds and the inteTe IS 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
OONhUy OoPO nAoJt 4OW oOAoCJtOA
Der 4, 1919.
The Board OF Commissioners Of 1.-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-
rate name of ''The City of Wildwood, in the
County OF Cape May in the State OF New
nation OF One Thousand Dollars $1,000 00)
each and numbered from One m to Fifty (5O)
inclusive, dated January 10 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 inclusive; SAID BONDS
SHALL BEAR INTEREST AT THE RATE
OF SIX 10y PER CENTUM PER ANNUM,
said interest shall be pay able s~emiannually
on the fifteenth days of July and January in
each year, upon the presentation and surren-
der OF the annexed coupons to the said bonds
as 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 to
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. after which no valid transfer thereof
shall be made except on said books and after
registered transfer to bearer. Such r~egistra-
ton shall not affect the negotIability OF the
coupons which shall continue to pass by de-
- FOA1 1919 ~ NAO 1oS Va NhS OlA Vi bLC
said bond it will be converted into q 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 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 to
which they shall be respectively attached.
Section 2. That this ordinance shall take
effect on its final passage and publication as
provided by law.
Passed first reading July 10, 1920.
Passed second reading July Is, 1920.
Adopted on third reading and final passage
on July 81, 1926.
OLIVER BRIGHT,
+. e. SMITH,
Commissioners
A~ttest-Alfred Winterburn, City Clerk.