Five Mile Beach weekly journal., 1922-11-03
ORDINANCE No. $50

An Ordinance authorizing the issuance
of $35, 100000 Water Bonds of 1.-THE City of
wildwood, in the County of Cape May"
in the State of New Jersey. for the pur-
pose of paying off Temporary Improve
ment Notes heretofore authorized 70 pc
issued under Ordinances Nos. ia, 125 and
146 of said City, adopted March To- 1871,
November 7, 1921. and July ii, 1922, re-
spectively.
Ordinance No. ia, Temporary Improve
ment Notes for $10,00000 were authorized
to be issued by 1.-THE City of Wildwood,
in the County of Cape May" in the state
of New Jersey in pursuance of Chapter
252 of the Laws of 1916 of New Jersey for
the purpose of Temporarily hnanong the
carrying out of the making OF tne I'M
provements set forth in said Ordinance
No. ia, the said Ordinance having peen
duly adopted, on March Is, 1921 and pub
lished according to law ;,ou 100,
under Ordinance No. 125. Temporary Inn
provement Notes for $15 10000 were auc
thorzed to. be, issued by The Clty NY OF
in the State of New Jersey, in pursuance
of Chapter 252 of the Laws of 1916 OF New
Jersey for the purpose OF temporarily
financing the carrying out of the making
of the improvements set forth in said Or
dinance' No. 125, the said Ordinance nav
ing been duly adopted on November Z
1921 and published according to law
AND WHEREAS, on July IL, 1922, un-
der Ordinance No. LAG Temporary I'M
provement Notes for $lO,0O0.00 were auc
fhOrlZed TO be issued Dy lie lily VI
Wildwood, in the County of Cape May"
in the State of New Jersey, in pursuance
of Chapter 252 of the Laws OF 1916 OF
New Jersey for the purpose OF tempor-
arily financing the carrying out OF the
making of the improvements set forth IN
said Ordinance No. 146 the said Ordl-
nance having been duly adopted on July
IL, 1922 and published according to law
AND WHEREAS, the said Temporary
Improvement Notes having been duly is
sued by said City in pursuance OF sad
Ordinances and which nave or VIII shor.g y
become due and payable; and the said
improvements named in said ORDINANCES
having been made; and the SAID CITY pc
ing desirous of paying the said Notes wnen
they become due by an issue of Bones
of said City in accordance. with the stat
utes in such case made and provided, :.
NOW. THEREFORE,, the 31,; Board Dc OF
Commissioners of "The City of WlldWood.
in the County of Cape May" in the State
of New Jersey, DO ORDAIN:
Section l. That in pursuance OF the au-
thority conferred by an Act OF me- dne LeEls- us
titled, IAN Act to authorize and reguiate
the Issuance of Bonds, and other opllga-
tions and the incurring of indebteoneSs py
Township or any municipality governed
by an Improvement Commission, ap-
proved March %, 1916, and the supple
ments thereto and amendments tnereoi,
BONDS of said CITY shall be issued in
an amount not exceeding the sum OF
$35, 100000 for the purpose OF paying OIL oiS oHS
Temporary Improvement NOleS u SoNiU
City heretofore issued under Ordinances
Nos. ia. 125 and 146 that the said Bonds
so to be issued shall be issued IN the cor
porate name of 1.-THE City of WILDWOOD,
in the County of Cape May" in the stare
of New Jersey; shall be registered ponus
of the denomination of $1.O0O.0U each
and numbered from 654 to 6SS inclusive
dated December l. 1922 and maturing IN
numerical order, one bond on the first DAY
of December of each of the years 1898 10
1857 inclusive; said bonds shall pear m IN
terest at the rate of five (5) per cent Per
annum said interest shall De payapie
semi-annually on the first days OF June
and December in each year TO the reg
istered holder thereof. Both principal ana
interest of the said Bonds are payable N
gold coin of the United States OF America
of che present standard of Welgnt anu
ffneness Or it's equivalent, at the ,iie once
of the Marine National Bank OF WIG
wood, New Jersey. :, ,o..;od IN
Sec. g. shat there shall be ieVied IN IN
each year when any of the said ponos
shall be outstanding in the manner ana at at
the time as other taxes, tax upon an
taxable property of said City sulncient 70
produce the principal and interest 10 ma
ture in the succeeding year. 4,i,a
Sec. 49, That this Ordinance snail taAo an,
effect on it's final passage ana puphcatioN
as provided by law.
w. COURTRIGHT SMITH.
RALPH L. CARLL.
ALFRED TAYLOR,
Commissioners.