Perth Amboy evening news., 1921-03-24
CITY ADVERTISEMENT
An Ordinance providing for the issuance
of S50.0O0.00 Water Bonds of the City
af Perfh Aunhov

whereas the OIL wafer IOmmis-
sioners/of the City OF Perth Amboy has
passed resolution reciting that it deems
necessary the following extensions and inn
provements to the existing waterworks
system owned by the City OF Perth Am
boy, 10 wit.
Meter Repair Shop and Garage. $50. 900
Extension of street mains .... 1000
House No. Runyon Pumping Sta
tlonf -.-........ 1900
High Level Pumping Equipment. 1000
New Meters ...................... 5000
$4,000
vided for such extensions and improve
ments,
NOW THEREFORE,. BE 1T ORDAINED
BY THE CITY OF PERTH AMBOY:
Section /. That, for the purpose of
meeting the cost OF extensions and i'm
proyements to the existing water works
system OF the City of Perth Amboy, and
providing additional equipment. ma
ehinery and apparatus therefor. as re-
cited in the preambles hereof, 1t is
necessary to raise the sum of Fifty Thou
sand ts5o.ooo.oo) Dollars.
Section 2. That there be issued. pursu-
ant TO chapter 252 Of the Laws OF 1915,
as amended. bonds of the City Of Perth
Amboy, 20 be known as Water Bonds.
Series ~" in the amount of Fifty
thousand tsSo'ooo) Dollars. which bohds
shall be dated the first day of May, 1921.
shall be in the denomination of one
thousand dollars $4,000, numbered from
to %, both inclusive. shaIr mature In
numerical order two bonds on the first
day of May of each of the years is23 fo
1883, both inclusive, and one bond on the
first day of May of each of the years 1884
10 1861, both inclusive, and shall bear in
terest at the rate of six per centum per
annum, payable semi an nually on the frst
day OF May and the ff'st day of November
in each year.
Section 3. The said bonds shall be in
such form and payable principal and in
terest in such medium and at such ulace
as may be provided by resolution OF the
Council, shall be signed by the Mayor
and Treasurer and attested by the city
clerk under the seal of the City, and II
coupons for the payment of interest be
attached they shall be executed by the
rae simiie signature of the City Treasurer.
section :. The Council Of the City OF
Perth Amboy hereby determines and de-
elares that the probable period OF use
Iuiness OF the said extensions improve
nehts' equipment. machinery and appaSa-
, s ieterreu 70 ~ section / hereof is not
said bonds. -
Section 5. That there shall be levied
IN each year, while any of said bonds shall
at the same time as other taxes. a tax
epon all the taxable property of said
clty sufficient to produce the amount OF
principal and interest TO mature in the
succeeding year. provided that such levy
may be reduced In any year by any
amounts actually applied to such princi-
pal and interest out of the earnings OF
tne water works system for said year.
Section g. That said bonds shall be sold
on sealed proposals after due advertise
ment by the City Treasurer. who shall
nave the power TO fix the date of sale,
70 select the newspaper and financial
paper In which the notice Of sale shall
De published. to prescribe the form OF
notice. and to award the bonds or to
reject any or all bids therefor
section !. This ordinance shall take
eneet upon its publication as provided BY
section Of chapter 252 of the Laws OF
1915, a. amended. and the City Clerk
shall have power TO select the news
paper in which 1t shall be published and
N 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 held March 21st. 1921. and will
be taken up for second and third read
ings and 1nai passage al the meeting o.
the Council to be held April 4th. 1921 in
the Council Chamber. city Hail. Perth
Amboy, n. J.
Dated. March "a. 1891.
A. z. GRAHAM,
I6zlTs-sf-s-1 City cisrk.
i - g. ~