Perth Amboy evening news., 1922-06-24

RESOLUTION PROVIDING FOR THE
RAISING OF 1901 900 BY THE Is
SUANCE OF BONDS OF THE COUNTY
OF MIDDLESEN. TO BE NOW AZ
ROAD IMPRON BONDs, sfh
les %.
WHEREAS. by a resolution duly adopt
ed on the fifth day OF August, ls&v the
Board of Chosen Freeholders OK thu
County of Middlesex authorized the bor-
rowing of three hundred thousand dollars
and the issuance OF temporary road i'm
provement bonds In said amount. which
bonds were issued under date OF August
J.. 1920 and will mature on the nrst das
of August. 1922; and
WHEREAS. no provision has been made
for the of any of said bonds ana
no funds are now or Will on the hrst
day of August. 1922 be available for this
purpose: and,
WHEREAS. the proceeds of said bonds
were applied TO the reconstructiol OF
roads in the County of Middiescx rs fol-
lows:
Road No. II Roosevelt-wood-
bridge 4S'ool.V
Road No. 10 St. George Ave-. 10 O0o.U
Road No 80. Trenton-New
Brunswick. South Section -. s5,66o.9a
Road No. AZ Old Bridge-New .
Road No. II woodbridge-se-
warren l'9oS'f
s29s. C31 G.
III VI bdlh Oot
of bituminous concrete, and having been
completed in the year 1920; and,
WHEREAS, the remainder of said $780,
900 was applied toward the cost OIL issu-
Ing said temporary bonds: and,
WHEREAS. this Board deems IL neces-
sary and advisable that the funds 10 meet
said outstanding bonds ne raised by a
serial bond issue: and,
serial bonds will be not less than one
thousand dollars:
now, THEREFORE,. BE IT REsoLV-
ED by the Board of Chosen Freeholders
OF the County of Middlesex:
Section l;-That 1t is necessary TO raise
the sum OF Three Hundred One Thousand
Dollars for the purpose of paying the cost
of reconstruction of roads In the County
of Middlesex, as recited in the preanbleS
hereof, by paying the outstanding TEN
porary road Improvement bonds issued
therefor.
Section 2. That there be issued pursu-
ant to Chapter 25e of the Laws OF 1910
and acts amendatory thereof. and sup
Elemental thereto, bonds of the County
OF Middlesex to be known as Road I'm
provement Bonds. Series 20. in the amount
OF Three Hundred One Thousand Dollars
or such lesser amount as upon the sale
thereof In the manner required by law
shall be sufficient 10 raise the sum afore-
said.
denomination and FORM bear such date
and be payable principal and interet in
such medium and at such times and place
and bear interest at such rate, not ex-
ceeding six per centum per annum' as
may be provided by resolution or this
Board, shall be signed by the Director and
Clerk of this Board and countersigned by
the County Treasurer. and the corporate
seal of the County of Middlesex shall be
thereunto affixed, and II coupons for the
payment of interest shall be attached
they shall be executed by the facimile
signature of the County Treasurer.
Section 4 The Board of Chosen Free
holders of the County of Middlesex here
by determines and declares, as follows:
(a) That the probable period OF USE
fulness of each of the several improve
ments referred to in the preambles
hereof. computed in accordance with
1915, as amended, is not less than nj
teen years from the thirty-frst day Of
December. 1920.
Cb) That the annual and supple
mental debt required by
Section ~ of Chapter 252 of the Laws
of 1915, as amended. were made and
filed as required by said act, prior 10
the mourning of the debt TO be funded
by the bonds hereby authorized.
Section S. That there shall be levied
in each year While any of said bonds
hall be outstanding. in the same manner
and at the same time as other taxes, a
tax upon all the taxable property in said
County sufficient to produce the amount
OF principal and interest to mature In the
succeeding year.
Section s. This reolution shall be pub
lished as provided by Section 2 OF Chap
ter 252 of the Laws OF 1916. in the Perth
Amboy Evening News and in the New
Brunswick Daily Home News. together
with the statement required by said sec
ton. The Clerk OF this Board is hereby
vested with authority TO specify therein
the date after which the bonds shall be
issued and delivered.
THE foregoing resolution was adopted
on the 18th day OF June. 1922.
The bonds authorized thereby will be
issued and delivered after the goth day
OF July. 1922. (specifying a day not later
than twenty days after the first publica-
toni, and any suit. action or proceeding
to set aside or vacate his resolution must
be begun within twenty days after the
publication of this statement.
THOMAS j. MULVIHlLL,
Clerk OF the Board OF Chosen Freeholders
I51l7-6-24-it.