The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1921-08-27
Nm ORDINANCE for the issuance and sale

AN ORDINANCE for the issuance and sale
of Temporary Notes to finance the con-
s~truction of a Bulkhead and Retaining
Wall on the Southeasterly side of Bay
Avenue, Somers Point, in the Amount of
3 Forty-fve Hundred ($4500.00).
WHEREAS the Common Council of the
City of Somers Point has heretofore passed
an Ordinance for the construction of a Bulk
head and Retaining Wall on the Southeastern
ly side of Bay Avenue according to the plans
and specifications on file in the office of e.
d. Rightmire, City Engineer. and
Whereas pursuant to the direction Of the
Common Council the City Clerk has adyer-
tised for bids for the performance of said
work, which bids have been opened and the
head and Retaining Wall is the sum of
$4.44 per lineal foot, making a total of
$3951.60. and
Whereas there will be additional expendi-
lures for the costs of Engineering and In
%spection, including a proper proportion of
the salary and expenses of the City Engineer
chargeable to said improvement which the
Common Council estimates at the sum of
Hundred Dollars ($2o0.00) and also
stimat the costs of issuing and selling
the said Temporary Notes for financing said
improvement at the sum of $4,000; and
also estimates the sum of $4,000 as the
interest which will accrue during the period
of construction and six months thereafter;
and that the sum of $113.40 will be neces-
sary to fill in with sand and gravel the road
way in back of the Bulkhead making a
total cost of said Improvement of Forty-fve
Gu tYfOOV.OOJ.
And whereas no appropriation has been
made for said improvement, now, therefore,
be 1t Ordained by the Common Council of
the City of Somers Point, that W. do hereby
appropriate the sum of Forty-fve Hundred
Dollars ($4500. 00), being the sum necessary
to meet the cost of carrying out the i'm
-provement aforesaid, including the interest
that will accrue during the period of con-
struction and six months thereafter and that
the money for said Improvement is hereby
authorized to be raised by the issuance and
sole n rrapnnorory NafaC In fha fo1Iou,tn.
denominations
-Four for One Thousand Dollars each and
One for Five Hundred Dollars.
Each note is to be dated September 1, 1921,
and made payable at the office of the City
Treasurer of Somers Point. N. j., in the
following order.
One Thousand Dollars payable September
l, 1922; One Thousand Dollars payable
September l, 1923 One Thousand Dollars
payable September 1, 1924 One Thousand
Dollars payable September 1, 1925; Five
Hundred Dollars payable September 1, 1925.
That they bear interest at the rate of six
per centum per .annum payable semi-annu-
ally at the office of the City Treasurer, SOM
ers Point, N. j., on the first day of March
and September and until the principal sum
is paid. That they be denominated Tempo
rary Bulkhead and Retaining Wall > Notes
and recite the fact that they are issued I'M
der and pursuant to an Act of the Legisla-
ture of the State of New Jersey entitled '.An
Act to authorize and regulate the issuance
of bonds and other obligations and mourning
Vi lnutDteuutSS ny county,, Sldte, borough,
village, town. township, or any other NUM-
cipality governed by an improvement COM
mission approved March %, 1916, as
amended and supplemented. That they be
signed by the Mayor, he being the Chief
Executive Officer, and by the City Clerk,
countersigned by the City Treasurer. and be
under the corporate seal of said city. That
they be in form prepared and approved by
our City Solicitor. That they be sold under
the direction of the Finance Committee of
the Common Council in conjunction with the
City Solicitor and City Treasurer, either at
public or private sale and that they be au-
thorized to proceed as rapidly as possible
with the sale and delivery of said notes on
passage of this ordinance, and that the prop
er officers of said City be and are hereby
authorized to execute the said notes on be-