Perth Amboy evening news., 1921-09-17
CITY AnyEKrIsEMENT

An Ordinance Making an Appropriation
for School improvements ana Au1nor,AiMi
the Issuance of sSe 600 schooi hohos "
whereas the Board of Education OF the
City OF Perth Amboy has decided that 1t
is necessary to o6 raise nd the s sum fan ot the e'g pur.
pose of charging and furnishing the hisn
school on State Street in sald CITY, anu
has, pursuant to the provisions OIL an e
Jersey entitled AN Act to estapllsh a
thorough and efficient system OF tree pup-
lie schools and to provide tor the nam
| tenance. support and management there
Of" approved October 10, 1903, ana the
acts amendatory thereof. prepared ana
delivered to each member OF the IoH
of School Estimate of the CITY OIL ferth
| Amboy a statement Of the amount Oh
money estimated to be necessary Tor such
Whereas the Board of School Estimate
of the City Of Perth Amboy has fixed and
determined the amount necessary top suGh
purpose at Eighty Thousand 1Ssv,ooo}
such amount, one of which was duly de-
ivered to the Board of Education and
The How ether Tn t. shIs eHun sE IT ORDAINED
BY THE l 7 OF PERTH AMBo4. AS
FOLLOWS:
sect ssstiG 9aa i for That hat p safEs is of he eaisrgi nn;
and furnishing the high school building
on State Street in the City of Perth Am.
boy. said building being OF the type .,
1 construction GO oShhhS1
A (b) Of The aforesaid act, that is to say,
having outer walls of. brick or other nara
incombustible material. but railing 70 con
form in other respects to the specihcatlons
of a fire proof building as defined IN saio
act, the sum of Eighty Thousand OSV'ooo)
Dollars. uLo
purpose of raising said appropriation
bonds in the corporate name OF th e,n ny
of Perth Amboy in the amount OF EIsnds
Thousand (sS0,O00) Dollars. which BONDS
shall be designated as school Bonds,
sh all bear date of October !, 1921. snail
be in the denomination OF One Thousana
both inclusive, shall bear interest at the
rate of six per centum (e%) per annuhl;
payable semi-annually on the hrst DAY OF
April and the first day of October IN eacn
year, and shall mature in numerical order
as follows: four bonds on the first DAY OF
October Of each Of the years 1879 10
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 Clty CIers
under the corporate seal of the city ana
the interest coupons thereto Attached
shall be authenticated by the facslmile
principal and interest Of said bonds s hall
be payable at the office of the city Treas
urer In the City Of Perth Amboy.,
credit Of the City of Perth Amboy are
hereby and shall remain pledged to Sc,
cure the payment of the principal ana
interest CT salu ponus' IA
of the City of Perth Amboy shall yearly
so long as any of said bonds shall remain
outsta nding. cause to be assessed, raised
and collected by tax. in the same man
ner as other city taxes are or snail De
raised and collected. the amount neces-
sary to meet the interest to accrue on
said bonds in the ensuing year ana tne
principal of such bonds as shall mature
In said year. $3.50
Section 4. Said bonds shall be issued
in such form as may be hereafter pre-,
lucrihed nv resolution of this council. Edlu
bonds shall be sold upon sealed proposals
after notice published at least twice. tht
first publication to be at least ten Gays
prior to the sale, in the Perth Annoy
Evening News, a newspaper pupnshed II
the City of Perth Amboy. and also onse
in the Bond Buyer a financial paper pub
llished in the City of New York; such
notice shall be in such form as the City
CLERK shall deem best and he is hereby
authorized to fix the date Of such sale.
Section s.. The proceeds OF the sale o.
said bonds shall be paid to the CUSTODIAN
of school moneys and applied solely 10 th'
purpose herein set forth.
Seton 6, Thu ordinance shall take Ell
feet upon its passage and publication al
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
Amboy. held September 9th, 1921, ant
will be taken up for second and thirc
readings and final passage, at the meet
ing of the Council to be held September
18th, 1921, IN the Council Chamber, City
Hall. Perth Amboy, n. J.:
Dated, September IL. 1921.
6423-s-14-iS City Clerk. .