Perth Amboy evening news., 1921-09-14

VIII
An Ordinance Making an Appropriated
for school improvements and authorizing
the Issuance of SSO,OOO Schooi oohos oi
the City of Perth Amboy.
Whereas the Board of Education OF the
City of Perth Amboy has decided tnat II
is necessary to raise the sum Sism,y
pose of charging and furnishing the hlsn
school on State Street in said CITY, anu
has, pursuant to the provisions OF an aes
of the Legislature of the state OF New
Jersey entitled An Act TO estaDIish a
thorough and efficient system OF free pun
lie schools and to provide Ior me naIn-
| tenance, support and management there
Of" approved October 10, 1903. and the
acts amendatory thereof, prepared anu
delivered to each member OF the PoaIu
of School Estimate of the CITY OF ferth
| Amboy a statement of the amount or
money estimated to be necessary Tor sueh
Whereas the Board Of School Estimate
Of the cay of Perth Amboy has fixed and
determined the amount necessary Tor such
purpose at Eighty Thousand (SSO,OOOl
dollars, and has made two certificates OF
such amount, one of which was duly de-
liivered to the Board of Education and
NV " TrIHEsIREFoREs BE IT ORDAINED
BY THE III OF PERTH AMBoY. AS
FOLLOWS: =
propriated for the purpose of enlarging
ana furnishing the high school building
on state Street in the city of Perth Am
boy, said building being of the type OF
Construction as defined in section 76 a.
La 90 of the aforesaid act, that is to say,
having outer walls of brick or other nara
Iincombustible material, but failing to con-
form in other respects to the specifications
of a fire proof building as defined in SAID
act, the sum of Eighty Thousand CSsO,OOo)
Section 2. That there be issued for the
purpose of raising said appropriation
bends in the corporate name or the CITY
Of Perth Amboy in the amount unt OF E hends
shall be designated as school Bonds.
sh all bear date of October /, 1871, snail
be in the denomination of One Thousand
Isl, O00) Dollars each, numbered l to so,
both inclusive, shall bear interest at the
rate of six per centum $50 per annurn,
payable s~emi-annually on the trst day OF
April and the first day of October in each
year, and shall mature in numerical order
as follows: four bonds on the first day of
october of each of the years 1923 to
the first day of October of each of the
years 1888 to 1871. both inclusive. Said
bonds shall be signed by the Mayor ana
|Treasurer and attested by the CITY CLERK
under the corporate seal of the City and
the interest coupons thereto attached
shall be authenticated by the facsimile
signature of the City Treasurer. The
principal and interest of said bonds shall
be payable at the office of the City Treas
urer in the City of Perth Amboy.,
Section 3. The property, faith and
credit of the City of Perth Amboy are
hereby anG shall remain pledged to Sc
cure the Payment of the principal and
interest CT salu DOnus. Liz lily COuhtt
of the City of Perth Amboy shall yearly
so long as any of said bonds shall remain
outstanding, cause TO be assessed, raised
and collected by tax, in the same man.
ner as other city taxes are or shall be
raised and collected. the amount neces-
sary to meet the interest to accrue on
said bonds in the ensuing year and the
principal of such bonds as shall mature
in said year.
Section 4. Said bonds shall be issued
in such form as may be hereafter pre-
ccrihaI NV rasO1utfnn nf this Cnunnil- Said
bonds shall be sold upon sealed proposals
after notice published at least twice. the
first publication to be at least ten days
prior to the sale, in the Perth Amboy
Evening News, a newspaper published in
the City of Perth Amboy, and also onse
in the Bond Buyer a financial paper pub
lished in the City of New York. Such
notice shall be in such form as the City
Clerk shall deem best and he is hereby
Section S. The proceeds of the sale of
said bonds shall be paid to the custodian
of school moneys and applied solely to the
purpose herein set forth.
Seton G. This ordinance shall take eff
feet upon its passage and publication as
required by law.
The foregoing ordinance was introduced
and passed on first reading at the meet
ing of the Council of the City of Perth
will be taken up for second and third
readings and final passage. at the meet
ing of the Council to be held September
18th, 1921, in the Council Chamber, City
Dated, September IA. 1871.
A.. e. GRAHAM,
6423-9-14-17 City Clerk.