Perth Amboy evening news., 1921-05-11
Firm
AN ORDINANCE
An Ordinance Providing For the Issuance
Of S28 900 Street Improvement Bonds
Of the City of Perth Amboy

Whereas pursuant TO ordinance duly
passed on April 4, 1921 and approved
April 6, 1921. there has been appropriated
the sum of 1928. 900 to provide for the re-
construction of the pavement of Maple
Street and other streets in the City OF
Perth Amboy by Warrenite laid on brick
NOW THEREFORE, BE IT ORDAINED
BY THE CITY OF AMBOY:
Section I. That for the purpose of pro-
Siding funds to pay for the reconstruction
bf the pavement OF Maple Street and
other streets in the City OF Perth Amboy
with Warrenite laid on brick or concrete
foundation, it Is necessary to raise the
sum of Twenty-three thousand dollars
tS23, 000).
Section 2. That there be issued. pursu-
ant to Chapter 252 of the Laws of 1916, as
amended. street Improvement bonds in the
amount OF Twenty-three thousand dollars
ts23. 00o) which bonds shall be dated June
One thousand dollars (s1.000) numbered
from one to twenty-three, both inclusive.
and shall mature in numerical order, two
bonds in the years 1923 to 1925, both in
elusive. and three bonds from the year
1927 to 1881, both inclusive. and shall
bear interest at the rate OF 61a 60 Give
able semi-annually on the FIRST day of
June and the first day of December of
each year.
section 5. The said bonds shall be In
such form and payable principal and in
terest in such medium and at such place
as may be provided by resolution Of the
Council. shall be signed by the Mayor and
Treasurer and attested by tho City Clerk
under the seal of the City and, IL cou-
pons for the payment OF interest be at
tached. they shall be executed by the
facsimile signature of the City Treasurer.
Section 4, That the Council Of the city
of Perth Amboy hereby determines and
declares the probable period OF useful
ness OF the said Improvement to be not
less than ten (O) years from the date
OF said bonds.
Section 5. That there be levied in each
year. while any Of said bonds shall be OUT
standing in the same manner and at the
same time as other taxes a tax upon all
the taxable property of the said city suf-
ncient to produce the amount of princi-
pal and interest TO mature in the sue
ceeding year.
Section 6. That said bonds shall be
sold on sealed proposals after due adver-
tisement by the City Treasurer, who shall
have the power to fix the date of sale, TO
select the newspaper and financial paper
iished. TO prescribe the form of notice.
and to award the bonds or reject any or
all bids therefore.
Section z. This ordinance shall take
effect upon its publication as provided by
section 2 of Chapter 252 of the Laws of
1915, as amended, and the City Clerk
shall have power to select the newspaper
in which 1t shall be published and to
specify the date after which the bonds
shall be issued and delivered.
The foregoing ordinance was introduced
and passed on first reading at the meet
Ing OF the Council Of the City OF Perth
Amboy. n. j., held May 9th, 1921. and
will be taken up for second and third
readings and final passage at the regular
meeting of the Council to be held May 16
1921. in the Council Chamber, City Hall,
Perth Amboy, N. j.
Dated, Nay 10. 1921.
A. e. GRAHAM.
sa~eecyk.sagss 0y Clerk.