Perth Amboy evening news., 1922-07-07
AN ORDINANCE

an a..
between smith and Market streets with
Bituminous Material over the present As
Base; Fayette Street from New Bruins
wick Avenue to Madison Avenue with Bi-
luminous Material over the present Sfics
street from the Lands of the Lehigh VAL
ley Railroad Company Running North 70
nous Material over the present Brick
Pavement Covering a concrete base; and
to provide for the Issuance of Twenty
Thousand Dollars General Improvement
Bonds.
BE IT ORDAINED BY THE CITY OF
PERTH AMBOY:
! smith and Market Streets be repaved
with bituminous material over the present
asphalt pavement on a concrete from N a%1
Brunswick Avenue 10 Madison Avenue
with bituminous material over the pres
ent brick pavement covering a co nf tbe
Lehigh Valley aRilroad Company runnt ~
north to the end of brick pavement with
bituminous material over the present brick
pavement covering a concrete base.
Section 2. Said work shall be lone I'M
der the direction of the city surveyor
and the Committee on Streets and sewers.
and the superintendent of me street
Commissioner
Section 3. Said work shall be done as
a general improvement. in accordance with
specifications prepared by the City sur
veyor.
Section 4 That there De lSSueu ttHtidi
Improvement Bonds in the sum Of Twenty
Thousand 100000 dollars, which t"nds
shall be dated July /. 1922 and snail be
of the denomination Of One THOUSAND
Isl, OOO) dollars. to be numbered from one
to twenty Inclusive. shall mature in nu-
merical order. four on the first day OF July
in each Of the years 1924 to 1928 inclusive.
Said bonds shall bear interest at he rate
Of five per cent. (5%) per annum pay.
able semi-annually on the hrst day OF
July and the first day of January in each
Section 5.-Tha the Council Of the City
of Perth Amboy hereby determines ana
(a) That the probable period or usetui-
ness Of said Improvement is six years.
CD That the average assessed valuation
Of taxable real property Including improve
ments) of said city, computed upon me
next preceding three values thereof, IN the
ma s pr provided Sa If IL ssisi0n IS 3 ss5 81 IssB!e
(c) That the net debt of the City OF
Perth Amboy. computed in the manner
provided in aid Section IL; Is su,1oiT.,st
debt statement required by said section IL
have been made and filed as therein re-
Section 6. That there shall be levied in
each year while any of the said bonds
shall be outstanding. in the same manner
tax upon all the taxable property
Of the said city sufficient to produce
the amount of principal and interest 10
Section 7. Said bonds shall be sold by
the city Treasurer. in accordance with the
statute; said Treasurer shall have power
10 fix the necessary details. 49,.
Section g.. This ordinance shall take
effect upon its publication as provided by
section 2 Of Chapter 252 of the Laws OF
1915, as amended, and the CITY clerk
mali have power to select the newspaper
in which It shall be published and to speci,
fy the date after which the bonds shall
be issued and delivered.
Introduced: June 5. 1922.
Passed: July 3. 1922
Approved: July G. 1922.
The foregoing ordinance was passed on
rriv q 1922. and approved by the mayor
on July 6, 1922. The bonds authorized
thereby will be Issued and delivered after
he 27th day of July. 1922. and any suit.
action or proceeding to set aside or vacate
this ordinance must be begun within
twenty days after the publication OF THIS
statement.
Dated July 7, 1922.
,sa7o-7-7-1t. City Clerk.