The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1923-06-23

AN ORDINANCE approprIating money
for the purpose of making alterations
and repairs to the present school build
ing and for the purpose of purchasing
land and building a new school-house
thereon and properly e%quipping and
furnishing same in the City of North
field City, County of Atlantic and state
OF New Jersey, and providing for the
raising Of money necessary therefor by
the issuing of bonds.
WHEREAS, the Board of Education OF
Mortified City has decided that it is
necessary 10 raise money to the amount
OF $4,000, for the purpose OF providing
funds WhereWith to pay the cost and eX-
pense Of making alterations and repairs
to the present school building and for the
purpose of purchasing land and building
a new school-house thereon and properly
e%quIpping and furnishing the same and
have prepared and delivered to the Board
of School Estimates of Mortified City a
statement of the amount OF money estl-
mated for such purposes;
AND WHEREAS. the Board of School
Estimates has fixed and determined that
the sum of SIS, goo is necessary to be
raised Tor said purposes as set 1orth IN
Estimates of said City, and has made
two certificates of such estimate, one OF
which certificates has been delivered by
Board Of Education. and the other TO the
Common Council of said City;
Now. therefore, Be it Ordained by the
Common Council of the City OF Mortified
Section l. We do hereby declare that
the average period for which the bonds
under the provisions of Chapter PA of
the Laws OF 1921. is thirty years.
Section 2. there be and there is
hereby appropriated the sum of $4,000
for the purpose of making alterations and
repairs TO the present school building and
for the purpose of purchasing land and
building a new school-house thereon and
properly equipping ana furnishing the
same.
Section 3. To provide the necessary
funds for the purposes mentioned in Sec
ton 2, and for which the said appropria-
ton therein mentioned is made, there
shall be issued by the City of Mortified
City under its corporate sea-, signed by
the Mayor. attested by its City Clerk n
cOuntersigned by the City Treasurer,
bonds of the City in an amount not eX-
ceedins $4,000, for the purpose OF proVld-
ing funds for the payment OF the cost
and expense of making alterations and
repairs to the present school building and
ion. the purpose of purchasing land ana
building a new school-house thereon ana
properly %equipping and furnishing the
same; such bonds shall be in the denom-
lnation of $500, numbered from 70 ~,
both inclusive, designated school Bond,
bear date the LIST day OF July, l9z3, ana
to be payable as follows: In the order OF
their serial number at the rate OF Two
bonds per annum beginning with the year
1925. to and including the year 1912.
They shall be oupon bonds bearing IN
terest at he rate of . per cent. per an
num-, payable "semi-annually, coupons TO
bear the facsimile signature OF the City
Treasurer. They may be registered as 70
principal only, or upon surrender of all
the coupons. may be fully registered as
to principal and interest. They shall be
payable at the First National Bank, in
the City Of P~leasantyille, State of New
Jersey, and the Common Council OF the
City of Mortified City shall appropriate
and provide by taxation in the annual
tax levy of said City such sum as may
be necessary TO pay the interest on said
bonds and to redeem them as they shall
the credit and faith OF the City of North
field City and the inhabitants thereof
shall be pledged for the faithful, payment
the same shall become due and payable.