Perth Amboy evening news., 1921-04-16
IN ORDINANCE PROVIDING FOR THE
Issuance OF Ss7 900 GENERAL
IMPROVEMENT BONDS OF
THE CITY OF PERTH

whereas. pursuant to ordinances duly
psssed on the 2lst day OF Feorusry' lssl
have been appropriated for the follow
inx purposes the following sums. to wit;
Erection Of City Stables and Garage,
500
,ng. 32,500.
Erection Of poles. conduits. wires. FIX
lures and equipment for the Illumination
Of Madison Avenue between the northerly
line Of Market Street and the Southerfy
line Of Fayette Street. being a part OF the
city Electric Light system. 5000.
Erection Of Street Signs. $4,000.
Purchase of FIRE apparatus. being a tri.
ole combination pumping engine, nose ana
motor car. 312,50
Purchase OF police apparatus. being a
patrol automobile, $4,000.
now rHEREFoRE BE T ORDAINED
By THE CITY OF PERTH AMBOf
Section /: That for the purpose OF pro
provements set forth in the
hereof 1t is necessary to raise the sum
of Eighty-two thousand dollars Ns2,ooo).
Section 2. That there be issued. pur-
suant to Chapter s52 of the Laws Of
1915. as amended. bonds Of the CITY OF
Perth Amboy. to be known as General
n nproyement Bonds, in the amount OF
ishty-two thousands dollars Hs2.oool.
1ich bonds shall be dated the hrst DAY
j i May, 1921, shall be In the denomtna-
In Of One thousand Dollars tsl'oool,
IA a lmDtTeO IToIl III ~ w
tn inclusive. shall mature in. numeri.
order1-a bonds on the nrst day Of
each of the years 1923 to 1928.
lay e. May in each Of the years
Ht/g to 1s4l, both inclusive. and shall
Il interest at the rate OF six t6%) per
ntum per .nnum, payable semi-snnuai any
1yn the nrst day Of May and tho hrst daS
yof November in each year.
Section 8. hat said bonds shall be In
such form and payable principal and m
aoI n 3 GnRh n1arH
as may be provided by resolution OF tho
Council, shall be signed by the Mayor
and Treasurer and attested by the CITY
Clerk under the seal OF the CITY, al III
attached, they shall be executed by the
facsimile signature OF the City Treasurer
Section l.. That the Council OF the
and declares the probable period OF use
fuiness OF the said city stables and ga
rage, being q brick non-hreproof building
Of the City Hall. being a brick non-hre-
proof building: of the said poles. Tres
and electrical equipment, being a part OF
the city electric light system. and OF the
said street signs, to be twenty years. and
OF the said police and FIRE apparatus TO
be ten years; and further determines the
4 average of the said several probable per-
iods OF usefulness taking into consider
alton the amount of bonds to be issued
on account OF each OF said several pur-
poses) to be not less than twenty-three
years from the GATE OF bdiu pouub.
Section s. That there be levied In each
year, while any OF said bonds shall be
outstanding. in the same manner and at
the same time as other taxes a tax upon
all the taxable property of the said city
sufficient to produce the amount OF prin-
cipai and interest to mature in the sue
ceeding year.
Section 6. That said bonds shall be
sold on sealed proposals after due ad-
vertisement by the City Treasurer. who
shall have power to fx the date OF SALE
to select the newspaper and financial pa
per In which the notice OF sale shall be
published, 10 prescribe the form OF no.
tice and to award the bonds or to reject
any or all bids therefore.
u ~Section Z. This ordinance shall axe
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 spe.
city 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 held April <th, 1921. and will be
taken up for second and third readings
and final passage at the meeting of the
Council to be held April 18th, 1921, In
the Council Chamber, City Hall, Perth
Amboy. N. j.
Dated. April =. 1921.
A. e. GRAHAM.
fsAt-S-7,1s CITY Clerk.
r