The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1923-11-24

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-
Gil September 3, 1917, a sanitary sewer
system and necessary house connections
and a modern sewage disposal plant have
been constructed in said City, and it is
estimated that said improvements were
completed on October 10, 1921; and
WHEREAS pursuant to the provisions
made upon the lands benefited by said
Improvements and said assessment as
finally duly confirmed aggregated $685.
$40. SO; 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, 370.53 the total
cost of said improvement to be borne by
general taxation being the sum of $2O1,-
900, and the total cost of said improve
ment borne by special assessment being
the sum of $96. 370.53; and
WHEREAS temporary notes or bonds
nave heretofore been issued temporarily
to finance the cost of said improvements,
and said special assessments in the am
cunt of $50. 554. so 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. 58, maturing November %.
1928, $201 900. 90 of which represents that
part of the cost to be paid by general
taxation, $42, 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, n 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
direct the issuance of permanent bonds
in the principal sum of S201 100000 to fund
said S19h. * IA temDOrArX notes or DOndS
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 l. That it is necessary to raise
the sum of Two Hundred and One Thou
sand Dollars for the purpose of funding
temporary notes or bonds of the City of
Pleasantville, N. j., now outstanding and
unpaid in the principal sum OF S19S, 1880,
issued temporarily to finance the improve
ments heretofore made and completed
pursuant to the provisions of an ordi-
nance entitled IAN Ordinance to provide
for the construction, installation and COM
pletion of a sanitary. sewerage system
and the necessary house connections
from the sewers to the curb line of
streets, and a modern. sewage disposal
plant in the City of ~Pleasantville, New
Jersey. and to provide for the payment of
the cost thereon, passed by the Common
Council September 3, 1917, and to pay
the balance of the cost of said improve
Aii@iAA1 " ~ " IN ~ $500 $1,000
said $201 200 being the portion of the total
cost of said improvements to be borne by
general taxation.
Section 2. That to raise said amount
of $201, goo, there shall be sold and issued
permanent negotiable Sewer Bonds of the
City of P~leasantville New Jersey, in the
amount of Two Hundr and One Thous-
and Dollars. 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,
solo and fnf..rn nf cold hands Chan hn da-
termined by resolution of the Common
Council.
Section 3. The proceeds of sale of said
bonds shall be applied to the funding of
the said $19S, 1896 temporary notes or
bonds of said City and the payment of
the cost of the improvements above de-
scribed.
Section 4. 1t is hereby determined:
la That the period of usefulness of
the improvements for which said bonds
are to be issued is forty years from Octo-
hereby classified as Sewer System under
Subdivision A of Section 4 (2) of Chapter
252, Laws of New Jersey of 1916 as amen
ded.
(b) That the average assessed valua-
ton of the taxable real property Gnclud-
ing improvements of such municipality
valuations thereof in the manner provid-
ed in Section 10 of Chapter 252, Laws OF
New Jersey of 1916 as amended) is
3 1886, 463.
W nat lilt III htpI VI Nv III
pality computed in the manner provided
in said Section u 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 70 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.
NOTICE is HEREBY GIVEN hat the
above Ordinance was passed on first ano
second readings by the Common Council
of the City of P~leasantville on Monday
November 10, 1928, and that said Common
Council of the City of Pleasantville will
consider the final passage of the above
Ordinance at its meeting to be held in
the City Hall, Pleasantville, New Jersey
on Monday evening, December 3, 1923.
BY order of the Common Council Of
the City of Pleasantville.
NEHEMIAH ANDREWS,
City Clerk.