Perth Amboy evening news., 1922-04-01
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
Bonds Therefor.
BE 1T ORDAINED BY THE CITY OF
PERTH AMBOY:
Section l. That there be purchased ma
chinery. equipment, tools and furnishings
for the various departments in the City
OF Perth Amboy, and that there be ap-
propriated the sum of Five Thousand
Dollars to pay the cost of same.
Section 2. That there be issued pursu-
ant to Chapter 252 of the Laws of 1916. 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, 1922; and shall be of the
denomination of one Thousand Dollars
to be numbered from 1 to 5. inclusive.
shall mature in numerical number. one
on the first day of March in each of the
years 1923 to 1927. inclusive. Said bonds
shall bear interest at the rate of 5h 60
per annum payable semi-annually on the
first day of March and the first day Of
September in each year.
Section g. The said bonds shall be in
such form and payable principal and in
terest in such medium and at such place
as may be provided by resolution of the
Council, shall be signed by the Mayor and
Treasurer. and attested by the City CLERK
under the seal of the City and if coupons
lot the pay H4tAL VI lhttIGcL Dt dlbdIHt'l
they shall be executed by the facsimile
signature Of tho City Treasurer.
Section 4. That the Council of the City
of Perth Amboy hereby determines and
(a) That the average probable period
OF usefulness of the said machinery, tools
and furnishings is six years;
(b) That the average assessed valu-
alton of the taxable real property lin
Guiding improvements) Of said City.
computed upon the next preceding three
values thereof in the manner provided
in Section IL Of Chapter 252 Of the
Laws Of 1916. is s23. 2O3. 3Os.OO;
(c) That the net debt of the City Of
Perth Amboy. computed in the man
ner provided in said Section IL. Is
S1,3s9, 90s.5ss
Cd) That the annual and supple
mental debt statement required by said
Section ~ have been made and filed as
therein required.
in each year while any of the said bonds
shall be outstanding. in the same manner
and at the same time as other taxes, q
| City sufficient to produce the amount OF
principal and interest to mature in the
Section g.. said bonds shall be sold by
the City Treasurer in accordance with the
Statute; said Treasurer shall have the
power to fix the necessary details.
Section q. This ordinance shall take
| effect upon it's publication as provided oy
section 2 OF Chapter 252 of the Laws oi
| 1915. as amended. and the City Clerh
| shall have power to select the newspaper
in which IT shall be published and TO spe,
city the date after which the bonds shall
be issued and delivered.
THE foregoing ordinance was introduced
and passed on first reading at the meeting
Of me Council OF the City of Perth Am
boy, held March 23rd. 1922. and will d.
taken up for second and third readings
and anal passage at the meeting OF tn
Council to be held April 5rd. 1922. in thu
Council Chamber. City Hall, Perth Am
boy. N. j.
dated, March "a. 1929.
ARTHUR e. GRAHAM,
,saan-2-as-4-J City Clerk.