Perth Amboy evening news., 1923-07-23

An Ordinance to authorize certain gen
tons therefor and providing for the
raising of $73, 10000 by the Issuance of
bonds of the City of Perth AmbOy to
be known as General improvement
Bonds"
BE IT ORDAINED BY THE CIT OF
PERTH AMBOY;
Section 1. That necessary fire appar-
atus and fire equipment be purchased in
accordance with specifications hereto
fore or hereafter adopted by this Council
and the sum of s17,5oo.0o be and hereby
is appropriated to pay the costs thereof.
Section 2. That the following streets
of the City of Perth Amboy. to wit:
State street from Washington Street to
Pulaski Avenue be reconstructed. to wit:
resurfaced with Bituminous macadam or
other suitable material on the present
foundation.
Washington Street, from High Street to
| Park Avenue be reconstructed, to wit: re-
surfaced with bituminous macadam or
other suitable material on the present
foundation,
Washington Street. from Penn Street
to New Brunswick Avenue be recon-
| structed, to wit: resurfaced with btu
minous macadam or other suitable mater
iai on the present foundation. and that
| the sum of $56. 900 be and hereby is ap-
propriated to pay the costs thereof.
Section 3. That it is necessary to raise
the sum of $73. 5000 10 to meet the appro-
priations aforesaid.
Section 4. That there be issued pur-
suant to Chapter 252 Of the Laws of New
tIbtH VI O1u &c Oh0 "a kAAC
City of Perth Amboy, to be known as
General improvement Bonds, in the
amount of $73, 100000, or such lesser
amount as upon the sale thereof in the
manner provided by law shall produce
said amount.
Section s. That said bonds shall be in
such denominations and form and payable
principal and interest in such medium
and at such times and place and bear
interest at such rate as may be pro-
vided by resolution of the Council, shall
- i--aI lNr 4hn ATovnr and tho TrPa g1rar
and attested by the City Clerk under the
seal of the City. and IL coupons for the
payment of interest be attached they shall
be executed by the fac-simile signature of
the City Treasurer.
Section 6. That the Council of the City
of Perth Amboy hereby determines and
declares as follows:
(a) That the average of the different
probable periods of usefulness of the
several purposes herein enumerated is
eight years.
OBJ That the average assessed valu-
alton of the taxable real property lin
Guiding improvements) of said City COM
puted upon the next preceding three
values thereof In the manner provided in
Section ~ of Chapter 252 of the Laws
of 1916, is $27,07S,152.0o;
(c) That the net debt of the City
of Perth Amboy, computed in the man
ner provided in said Section IL, is ST.
S2S, 1857.
(d) That the annual and supple
mental debt statement required by sec
80 bofS -
therein required.
Section z. There shall be levied in each
year, while any of the said bonds shall
be outstanding, in the same manner and
at the same time as other taxes, a tax
upon all the taxable property OF said
city, sufficient to produce the amount of
principal and interest to mature in the
succeeding year.
Section g.. This ordinance shall take eff
feet upon its publication as provided by
Section 2 OF Chapter 252 of the Laws of
1915, as amended together with the state
ment required by the said section and the
City Clerk shall have power to select the
newspaper in which 1t shall be published
and to specify 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 the Council of the City of Perth AM
boy, N. j., held July 10th, 1923, and will
he considered and taken up for second and
third readings and final passage at the
Special meeting of the Council to be held
Monday, July 10th. 1928. in the Council
Chamber. City Hall, Perth Amboy. N. J.
Dated, July 18th. 1923.
PHILIP P. COSTELLO,
26597-7-19-23 City Clerk.