Perth Amboy evening news., 1922-03-25
AN ORDINANCE

= An Ordinance to authorize the purchase
OF Machinery Equipment. Tools and Fur
nishings and Appropriating the Sum of
Five Thousand Dollars to Pay the Cost of
same and Authorizing the Issuance OF
Bonds Therefor.
BE IT ORDAINED BY THE CITY OF
PERTH AMBOY:
Section 1. That there be purchased ma
ehinery. equipment. tools and furnishings
for the various departments in the City
OF Perth Amboy. and that there be APP
propriated the sum of Five Thousand
Dollars to pay the cost of same.
Section ?. That there be issued pursu-
ant to Chapter 252 of the Laws of 1915. as
amended. bonds of the City of Perth Am.
boy to be known as General Improvement
Bonds in the sum of Five Thousand Dol.
lars. which bonds shall be dated the first
day of March, 1899; and shall be of the
denomination of One Thousand Dollars
to be numbered from l to 6, inclusive
shall mature in numerical number, one
on the first day of March in each of the
| years 1928 to 1927. inclusive. Said bonds
shall bear interest at the rate of 5h "a
per annum payable ~semi-annually on the
first day of March and the first day Of
September in each year.
Section 3. The said bonds shall be II
such form and payable principal and in.
terest in such medium and at such place
as may be provided by resolution of tn,
Council. shall be signed by the Mayor and
Treasurer. and attested by the City Clerp
under the seal of the City and IL coupons
| LOT tne payment OF interest," De altatuef
they shall be executed by the fac-simile
signature of the City Treasurer.
Section 4. That the Council OF the Cit,
of Perth Amboy hereby determines apt
declares as follows:
(a) That the average probable period
of usefulness of the said machinery. tool
and furnishings is six years;
OBJ That the average assessed valu'
alton of the taxable real property Din
GLIDING improvements) of said City
computed upon the next preceding three
values thereof in the manner provided
in Section IL of Chapter 252 of thu
Laws OF 1916. is $2S, 20S, S0s.00;
(o) That the net debt of the City o
Perth Amboy. computed in the man
mar provided in said Section IL, !
Si,3SP, 9OS,6s;
(d) That the annual and supple
mental debt statement required by SAT-
Section 10 have been made and fled a
therein required.
Section 5. That there shall be Levied
in each year while any OF the said bonu
shall be outstanding, in the same name
and at the same time as other taxes.
tax upon all the taxable property of Thu
City sufficient to produce the amount o
principal and interest TO mature IN TN
succeeding year.
Section G. said bonds shall be sold b,
the city Treasurer in accordance with tn
Statute: said Treasurer shall have IN
power TO fix the necessary details.
Section z. This ordinance shall TAX
effect upon its publication as provided b.
Section 2 of Chapter 252 OF the Laws o
1916. as amended. and the City Clerl
shall have power to select the n~ewspape
in which it shall be published and to spe
city the date after which the bonds shal
be issued and delivered.
The foregoing ordinance was introduced
and passed ON first reading at the meeting
OF the Council of the City of Perth Am
boy. held March card, 1929, and Will b
taken up for second and third readins
and final passage at the meeting of tn
Council 10 be held April Srd. 1929, in tn
| Council Chamber. City Hall, Perth Am
boy. n. j.
Dated, March "a, 1922.
ARTHUR f. GRAHAM.
,9qao-S-e5-4-J City Clerk.