Perth Amboy evening news., 1923-10-19
Be it Ordained by the City of Perth Am


of Temporary Improvement Bonds of the
City of Perth Amboy.
Be it Ordained by the City of Perth Am
Section l. That in connection with the
elimination of certain railroad crossings
at grade In the City of Perth Amboy. such
elimination to be made by the Central
Railroad Company of New Jersey and the
Lehigh Valley Railroad Company at the
expense of said Companies In accordance
with orders heretofore made by the Pub
lie Utilities Commission of the State Of
.lbg2 Jersey. the following general improve
ments>5e made at the expense of the City
OF Perth Amboy. and that there be appro-
priated therefor the sum of $500. 100000.
Construction of trunk sewer system
with appurtenances West Of the tracks of
the Central Railroad of New Jersey be-
ginning at point at or near the juno
tion OF New Brunswick and Amboy Ave-
nues. running thence in an easterly direc-
tion to Elm Street; Southerly on, Elm
Street to Market Street; thence easterly
kon Market Street to the intersection Of
Market street and the Southerly extension
of Elm Street; thence Southerly on Elm
Street to a point where the central line of
said Elm Street intersects the right OF
way of the Raritan and North Shore
Branch of the Central Railroad of New
Jersey; thence Easterly under the right
OF way and tracks of the Raritan and
North Shore Branch of the Cenral Rail-
road of New Jersey also under the right
of way and tracks of the Central Railroad
Of New Jersey in the new position of said
tracks to point in Second Street. at or
near the intersection of Second Street and
Paterson Street; thence along Second
Street to the Raritan River together with
connecting link running from Washing
ton Street where the said Street crosses
l the tracks of the Central Railroad of New
l5ersey Southerly TO New Brunswick Ave
nue., and connecting with the first des-
rribed trunk sewer; said sewer to connect
with all present sewers west of the Cen
trial Railroad of New Jersey and South Of
Washington Street. including said WASH
ingto Street.
Section 2. That there be issued to
meet the cost of such improvements tenn
porary Improvement bonds of the City of
Perth Amboy from time to time in an
amount not to exceed in the aggregate
t560,00000 which bonds shall bear inter-
est at not exceeding six per centum per
Annum, payable semi-annually
Section 8. Said bonds shall he in such
form has been provided by resolution
for temporary improvement bonds of the
City of Perth Amboy. shall be signed by
the Mayor and Treasurer and attested by
the Clerk under the seal of the city. and
II coupons for the payment of interest he
attached, they shall be executed by the
fac-simile signature OF the City Treasurer
The said officers who are to sign the
bonds. may fix any details not fixed by
resolution of this Council of by this ordi-
nance.
Section T. That the Council Of the CITY
of Perth Amboy hereby determines aud
declares follows;
(a) That the average probable period
of usefulness of the improvements herein
mentioned Is forty years.
(b) That the average assessed valua-
tion of the taxable real property dnclud-
ing irnprovements) of said city computed
upon the next proceeding three values
thereof in the manner provided in Section
10 of Chapter 252 OF the Laws of 1916, is
$2707S. 1890.
(c). That the net debt of the city of
Perth Amboy computed in the manner
provided in said Section IL. is $l,SS2,-
(d) That the average assessed valua-
tion OF the taxable real property dncluding
improvements) of said city computed up
on for the years 1920, 1921 and 1922, in
the manner provided in Chapter 157 of the |
Laws OF 1923, is s25,1S1.S3S 90.
fe) That the annual and supplemental |
debt statement required by said Section
IL have been made and filed as herein !
required.
Section s. That the city Treasurer he
and hereby is authorized to negotiate the
sale OF said bonds. according 10 the
Statute.
Section s. That the ordinance passed
on the seventh day of May. 1923. entitled
IAN Ordinance to authorize the making of
improvements in connection with the
elimination of Railroad Grade Crossings,
appropriating the sum of 100000 to pay
the cost of same and authorizing and
raising of said sum by the Issuance of
City of Perth Amboy." be and the same is
hereby repealed provided that no action
taken thereunder with reference to the
improvements auth oriZed thereby shall be
invalidated by this repeal but any and all
such actions shall be deemed TO have
been taken pursuant to this ordinance.
The foregoing ordinance wa sintroduced
and passed on first reading a the meet
ing Of the Council of this City of Perth
Amboy. N. j.. held October 18th. 1923.
and will he considered and taken up for
second and third readings and final pass
age at the meeting of the Council to he
held Monday evening November 5th, 1923.
IN the Council Chamber. City Hail. Perth
Amboy, N. j.
Dated October 10th, 1928
PHILIP p. COSTELLO,
2gl53-1O-l9-26 City Clerk.