The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1923-12-19
NO. 2eo.

I
TO provide for the issu-
assessment Bonds of the
ntville, New Jersey. in
Of Forty-two Thousand
pursuant to the provisions
be of the City of Pleasant
Kissed by the Common Coun-
3, 1917, a sanitary sewer
Iisposal plant and house con-
e been constructed and COM
KS pursuant to the provisions
Nnance, an assessment was duly
On the lands benefited by said
Hments and said assessment as
duly confirmed aggregated $780,
3 and said assessments were made
eable in five equal annual payments
hth interest, the first insta1lment being
payable November /. 1922. and the other
installments being payable on January 2
7 in each of the years 1923 to 1926 both in
WHEREAS $50, 554.SO of said assess !
ments heretofore have been paid and
there remain unpaid such assessments in
the principal amount of $42, S15.73. and the
total cost of said improvements will be-
the sum of 1927, 370.53, and temporary
notes or bonds heretofore have been is
sued temporarily to finance said improve
ments and there are now outstanding and
n tba aag seen em ro M notes ea55 or psa bonds On in
turing November %, 1923. s201 600. 90 of
which represents that part of the cost to
be paid by general taxation, $42, SIS. 70 of
which represents that part of the total
cost to be borne by special assessments
upon the property benefited by said inn
p~rovements heretofore duly made, levied
and confirmed now remaining unpaid. and
$14,954.80 of which represents moneys in
hand collected from said assessments and
not yet paid on said notes or bonds, and
it is necessary to provide for the issu-
ance of Sewer Assessment Bonds in the
amount of $40, 900 to fund a like principal
amount of the S42, S15.73 temporary notes
or bonds above described.
Be it Ordained by the Common Council
of the City of PleaSantville, New Jersey:
Section /. That it is necessary to raise
the sum of Forty-two Thousand Dollars
to fund a like principal amount of tenn
porary notes or bonds heretofore issued
temporarily to finance the sewer i'm
p~rovements that ave been made and
completed. pursuant to the provisions of
an ordinance passed by the Common
Council September g., 1917, entitled AN
Ordinance to provide for the construction,
installation and completion of a sanitary
sewerage system and the necessary house
connections from the sewers to the curb
line of streets and a modern sewage dis
posa1 plant in the City of Pleasantville,
New Jersey, and to provide for the pay
ment of the cost thereof, which said
temporary notes or bonds represent a
like principal amount of special assess
ments on property specially benefited by
said improvements that heretofore have
been duly made, levied and confirmed,
and payable in installments with interest
and now remain unpaid, and which said
temporary notes or bonds are now out
standing and unpaid, and mature Novem-
Der %, 1923.
Section 2 That to raise the said am
Jun IL DiZtuDU lHtIO Sndn ne SOl1 LII
issued negotiable Sewer Assessment
Bonds of the City of Pleasantvi1le, New
Jersey, in the principal amount of Forty
two Thousand Dollars. Said bonds shall
be dated November l. 1923, and all other
matters with respect to the issuance,
sale and form of said bonds shall be de-
termined by resolution of the Common
Council.
Section 3. The proceeds of sale of said
Sewer Assessment Bonds shall be applied
to the payment of a like principal amount
of the temporary notes or bonds now
outstanding and unpaid above described
issued temporarily to finance said sewer
improvements.
Section 4. 1t is hereby determined and
declared:
(a) The period within which said Sew
er Assessment Bonds shall be paid is
four years from November !, 1928. which
said period is less than two years after
the, time when the last installment of
said assessments viii become delinquent.
OBJ That the average assessed valua-
ton of the taxable real property Gnclud-
ing improvements of such municipality
computed upon the next preceding three
valuations thereof in the manner provid-
ed in Section u of Chapter 252, Laws of
$3.50 s,5s5. i 5srSey Of 1910 as amended Is
(c) That the net debt of the munich
patty computed in the manner provided
in said Section - of Chapter 252. Laws
of New Jersey of 1916. as amended and
supplemented, is $245, 971.43.
I'D 1t is hereby certified that the sup
Elemental debt statement required by
Section y of Chapter 252, Laws of New
Jersey of 1916 as amended and supple
mented has been filed in the office of the
City Clerk.
Section 5. This ordinance shall take
effect Immediately after final passage and
publication.
Passed third and final reading Deem
Der 8, 1923.
JAMES YATES,
President of Common Council.
Attest:
NEHEMIAH ANDREWS,
City Clerk.
Approved December II, 1923
CHARLES f. JACKSON,
Mayor.