Five Mile Beach weekly journal., 1920-07-02
NOTICE OF
,o amend an ordinance increas'
tnu the rate OF interest ON
Boardwalk
Bond
to Six Per Cent

NOfiOp is neTebV ETNGH u IHV IUENHFg---5
,he intTodnction of an ordinance by the Board
of Commissioners OF "The CITY OF
in the County OF Cape May, IN .tne StaeS Ul
New Jersey, at the COMMISSIONER mnnd in
in the City Hall, in The City OF III
the County of Cape May, New Jersey'on
TUESDAY, JULY 18th, A. d. 1920,
at two f2) O'Clock in the afternoon OF said DAY,
for the purpose OF AMEN DING "6ECiION a
OF ORDINANCE No. 81, entitled IAN T Tau
nance appropriating the sum OF FIFTY Ihou.
sand Dollars (S50.O00.OO for the PURPOSE "
building and constructing a new PT9Poseu
BOARDWALK in "The CITY OF WiI4wooo,
in the County of Cape May in the State OF
New Jersey, along the beach or ocean 1roni;
the said proposed new Boardwalk Will De puilt
and constructed OF a width OF forty (4O) ieeIln
Beach Avenue, on a line parallel TO ana DInd-
ing on the northwesterly line OF sald Beach
avenue, extending from a point ten lIOl ieet
northeasterly OF Cedar Avenue 70 a poiHV
twenty (2U feet southwesterly OF the north
easterly side line OF Montgomery AVenue,
with a length of twenty-three hundred (Z9OOl
feet; the approaches to the SAID new pfoposed
Boardwalk will be ten QU feet in width anu
will be constructed on both sides OF Schelleh-
ger, Lincoln, Garfield, Spicer, Spencer,
Young, Roberts and Baker Avenues, ana
with a total length of t~wenty-eight hundred
(2SO0) feet; there will be a connection OF twen-
ty (20) feet in width between the new ana old
Boardwalk which will be built ana construct
ed in the northeasterly side of Montgomery
Avenue binding on the northeasterly line OF
said avenue, wit alength OF six hundred ana
twenty-eight 1928 feet; the above being the
/ AREA tuClObCd " bhC = R4OPOPN0 $1,000
walk, approaches and connections; and au-
thorlzing the issuance OF FIFTY THOU.
SAND DOLLARS S50,OOO BONDS OF salu
CITY for the purpose of building ana con-
structing the said new proposed BoardWalKi
approaches and connections, and providing
for the payment of the principal OF the said
bonds and the interest thereon; which SAID
ordinance was duly passed and adopted on us
third reading and final passage by the SAID
Board of Commissioners OF said City on De-
cember 4th, 1919.
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 Coupon Bones OF The denom-
nation OF One Thousand Dollars SlOOUOOl
each, and numbered from one ~ 10 fifty (5U
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 (5) 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 1.-THE City OF Wildwood, in the County
OF cape May, New jersey anu sucn TeSlSlrd-
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
negotiabil1ty OF the coupons which shall con-
time 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 interestshall be
payable to the registered 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 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 of the City Treasurer, and
shall be numbered to correspond with the
plumber of the bond to which they shall be
respectively attached"
The to be introduced on Tuesday,
July 18th, 1920, at two ~ O'Clock in the after
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: ssaid bonds
shall bear interest at the rate of SIX 6) per
centum per annum" instead OF five ~ pei
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
therein may file objections in writing with
the City Clerk OF said City on or before TUES
DAY, JULY 18th, A. .. 1920, at two ~ O'Clock
z. NJ.
Done by order OF the Board OF Commits
sioners.
ALFRED WINTERBURN,
City Clerk.
Dated June 22d, 1920.