The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1923-12-19
NO. 261.

AN ORDINANCE to provide for the
issuance of Permanent Sewer Bonds of
the City of Pleasantville, New Jersey,
in the amount of Two Hundred One
Thousand Dollars.
WHEREAS pursuant to the provisions
of an ordinance of the City of Pleasant
vile. n. J., passed by the Common Coun-
ell September 8, 1917, a sanitary sewer
system and necessary house connections
and a modern sewage disposal plant have
been constructed in said City, and 1t is
estimated that said improvements We're
completed on October 10. 1921; and
WHEREAS pursuant to the provisions
of said ordinance an assessment was July
made upon the lands benefited by said
Improvements, and said assessment as
finally duly confirmed aggregated $685.
370.53; and
WHEREAS the total cost of said i'm
provement, including the amount so as
sessed. and including engineering costs
and interest during the construction pc
riod and the estimated cost of issuing
bonds will amount to 1921, 370.5 90, the total
cost of said improvement to be borne by
general taxation being the sum of $201,-
900. and the total cost of said improve
ment borne by special assessment being
the sum of S96. 370.53; and
WHEREAS temporary notes or bonds
have heretofore been issued temporarily
to finance the cost of said improvements,
and said special assessments in the am
cunt of s53. 554.S0 heretofore have been
paid, and there are now outstanding and
unpaid temporary notes or bonds so is
sued in the aggregate principal amount
of S255 .96S. 5S, maturing November %,
1928, S201 900. 90 of which represents that
part of the cost to be paid by general
taxation. $40. S15.73 of which represents
that part of the cost to be borne by spe-
cial assessments duly levied and confirm
ed, now remaining unpaid, and S14,954.SO
of which represents moneys in hand col
lected from said assessments and not yet
paid on said bonds, and it is necessary to
in the principal sum of S201. 100000 to fund
said sos, 1886 temporary notes or bonds
and to pay the balance of the cost of
said improvements of 2,S01.95 to be
borne by general taxation.
BE it Ordained by the Common Council
of the City of Pleasantville, New Jersey:
Section /. That it is necessary to raise
the sum of Two Hundred and One Thou
sane Dollars for the purpose OF funding
temporary notes or bonds of the City of
Pleasantville, N. j., now outstanding ana
unpaid in the principal sum of $198, 1880,
issued temporarily to finance the improve
ments heretofore made and competed
pursuant to the provisions OF an ordi-
nance entitled A Ordinance to provide
for the construction, installation and COM
pletion of a sanitary. sewerage system
n the necessary house connections
streets, and a modern sewage disposal
plant in the City of P~leasantville, New
Jersey, and to provide for the payment OF
the cost thereof. passed by the common
Council September 3, 1917, n to pay
the balance of the cost of said improve
ments to be borne by general taxation;
said S2U1, 0UU DelnB tne portion. VI lle lOtdl
cost of said improvements to be borne by
general taxation.
Section 2. Thai to raise said amount
of S2O1, 900, there shall be sold and issued
permanent negotiable Sewer Bonds or the
CITY of ~Pleasantville, New Jersey, in the
amount of Two Hundred and One Thous-
and DOLLAR All of said bonds shall ma
ture within the period of usefulness here
in declared and determined, and all other
matters with respect to the issuance,
sale and form of said bonds shall be de-
termined by resolution of the Common
Section 8. The proceeds of sale of said
bonds shall be applied to the funding of
the said S19S, 1896 temporary notes or
bonds of said City and the payment or
the cost of the improvements above de-
section 4. It is hereby determined;
(a) That the period of usefulness OF
the improvements for which said bonds
are to be issued is forty years from Octo-
Der 10, 1921, said improvements being
hereby classified as Sewer system under
Subdivision A of Section 4 % OF Chapter
252, Laws of New Jersey OF 1916 as amen
ded.
ton of the taxable real property unclud-
ing improvements of such municipality
computed upon the next preceding three
valuations thereof in the manner provid-
ed in Section - of Chapter 252, Laws OF