Perth Amboy evening news., 1921-05-25

the city Of Perth Amboy heretofore de-
cided that II was necessary TO raise the
sum Of Thirty Thousand Cs30.000) Dollars
for the purpose of grading and excsvatins
work preparatory to erecting n schooi
building on the block bounded by Hall
Avenue. Alta Vista Place. Arnold Avenue
and Jacques Street in said City. and pur-
suant to the provisions Of an act OF the
Legislature of the state of New Jersey
entitled An act to establish a thorough
and e~iciffent system of free public schools
and TO provide for the maintenance. sup
port and management thereof" approved
October 10. 1908. and the acts amenda-
tory tn ereof, prepared and delivered to
each member Of the Board OF School Esti-
mate Of the City of Perth Amboy a state
ment OF the amount OF money estimated
TO be necessary. for such purposes; and
WHEREAS the Board OF school Esti.
mate OF tho City Of Perth Amboy fixed
and determined tho amount necessary for
such purpose at Thirty Thousand ts3O,-
000) Dollars and made two certtihcates OF
such amount. ono OF which was duly de-
Iivered to the Board OF Education and
the other to this Councils; and
WHEREAS this Council appropriated
for such purposes the sum of Thirty
Thousand $3.50, 000) Dollars and provided
for the issuance. pursuant to chapter III
of the Laws of New Jersey OF 1915, tenn
porary loan school bonds in the amount
of Thirty Thousand 1896, 00ol Dollars,
postponing the determination OF whether
such amount should be raised by tax or
provided for by the Issuance OF school
bonds, all by resolutions duly adopted'
WHEREAS pursuant to such resolutions
there have been issued $1,000 temporary
1921, and $4,000 temporary loan bonds
dated the 18th day of July. 1920 and ma.
turing on the 18th day of July, 1921; and
WHEREAS this council deems IL desir-
abel further to postpone the determine
ton of whether such amount shall he
raised by tax or be provided for by the
issuance OF school bonds;
Nal Tharefore Re II Resolved by III
Council of the City OF Perth Amboy, as
. Follows:
Section 1. That there be issued for the
purpose of paying at the respective ma
turtles thereof the Thirty Thousand
Gao, oo0) Dollars. Temporary Loan School
Bonds OF the City of Perth Amboy. REFER
red to in the preambles hereof, temporary
loan school bonds of said city in ths
amount of Thirty Thousand 0SO.oool
Dollars, which bonds shall be general
faith and credit thereof, and shall be
signed by the Mayor and City treasurer
and attested by the City Clerk under the
corporate seal ofo the City.
Section 2. such bonds shall bear sucf
date. shall be OF such denomination. SC
numbered, bear such rate of interest not
exceeding six per centum per annum and
be in such forri and mature at such time
or times not exceeding one year from
their date as the City Treasurer shall de
termine. II the City treasurer shall 20
l III tohEVhs ii ~ ~ 49, -
interest may be attached thereto.
, Section 3. The city Treasurer is here
by authorized to negotiate at public OF
private sale and issue said temporary LOAF
} schol bonds either at one time or from
} time TO time. not exceeding in the agere
gate the amount aforesaid, and the Ma
or, City Clerk and City Treasurer ar
| hereby authorized to execute said bond
under the seal OF the City. all withou
furthr authority from this Council. TIL
city Treasurer is further authorized to de
liver said bonds to the purchaser. ana Z
E apply the proceeds thereof to the pay
ment redemption OF the outstanding
temporary bonds as the same shall ma
a was introduced. and adopted by the fol
/ lowing vote: YeH-Sofeld. Waters. Pat
= ten. Andersen, Clark, Riedy. Wester. Ma
None.
BE IT RESOLVED by the Council o
j.: the City of Perth Amboy that the $4,000
General Improvement Bonds OF the Cit
of Perth Amboy, authorized to be issue
r by an ordinance heretofore adopted. be
8 together with the coupons for interest t
/. be attached thereto and the provisions I
be printed on the back thereof, In sub
stantially the following form:
No. - Mo-
v $1,000 81 1000
UNITED STATES OF AMERICA
a STATE OF NEW JERSEY
CIT OF PERTH AMBOY
I. KNOW 9ESHH AL MEN BY THEsn sI PRES
ENTs that thesCity Of Perth Amboy.
municipal corporation in the County {
Middlesex. in the State of New JerseI
hereby acknowledges Itself n debted an
y promises to pay to the bearer hereof
Il ONE THOUSAND DOLLARS
q in lawful money of the United states
II America, at the office of the City Treai
urer in Perth Amboy. New Jersey. on Y
interest thereon at the rate of six p
J centum per annum at the same place, {