The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1923-11-24
NO. 26o.

AN ORDINANCE to provide for the issu-
ance of Sewer Assessment Bonds of the
City of Pleasantville, New Jersey. in
the amount of Forty-two Thousand
Dollars.
WHEREAS pursuant to the provisions
of an %ordinanc of the City of Pleasant
Vile, N. j., passed by the Common Coun-
Gil September 3, 1917, a sanitary sewer
system and disposal plant and house con-
nections have been constructed m COM
pleted. and
WHEREAS pursuant to the provisions
of said ordinance, an assessment was duly
made upon the lands benefited by said
improvements and said assessment as
finally duly confirmed aggregated $780,
370.53. and said assessments We're made
payable in five equal annual payments
with interest. the first installment being
payable November l, 1922, and the other
installments being payable on January 2
in each of the years 1928 to 1926 both in
elusive: and
WHEREAS S53,554.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 1921, 370.53, and temporary
notes or bonds heretofore AVE been is
sued temporarily to finance said improve
ments and there are now outstanding and
unpaid such temporary notes or bonds in
the aggregate amount of S255. 96S:5S ma
turing November %, 1928, $201, 100000 of
which represents that part of the cost to
be paid by general taxation, Sac, S15.73 of
which represents that part of the total
cost to be borne by special assessments
upon the property benefited by said i'm
p~rovements heretofore duly made, levied
and confirmed now remaining unpaid, and
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 S42, 900 to fund a like principal
amount of the $42, S15.73 temporary notes
or bonds above described. .
Be it Ordained by the Common Council
of the City of P~leasantville, New Jersey:
Section l. 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
provements that ave been made and
completed, pursuant to the provisions OF
an ordinance passed by the Common
Council September 3, 1917. entitled IAN
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
posal 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
cunt of $4,000 there shall be sold and
Bonds of the City of Pleasantville, New
Jersey. in the principal amount of Forty
two Thousand Dollars. Said bonds shall
be dated November /, 1928, 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 9. The proceeds of sale of sale
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 A. 1t is hereby determined ant
declared:
ca The period within which said Sew.
er Assessment Bonds shall be paid Is
four years from November l, 1928, which
said period is less than two years after
the time when the last installment o.
said assessments will become delinquent
OBJ That the average assessed valua
ton of the taxable real property (includ-
computed upon the next preceding three
valuations thereof in the manner provid'
ed in Section - of Chapter 252, Laws O.
New Jersey of 1916. as amended) il
() That the net debt of the munich
pality computed in the manner provided
in said Section ~ of Chapter 252, Law.
of New Jersey of 1916. as amended anC
supplemented. is $245,9 71.43.
Id 1t is hereby certified that the sup.
Elemental debt statement required b.
Jersey Of 1916 as amended and supple.
mented has been filed in the office of thu
City Clerk.
Section 5. This ordinance shall taxi
effect Immediately after final passage anC
publication.
NOTICE is HEREBY GIVEN that thu
above Ordinance was passed on first ant
second readings by the Common Counci
Of the City of Pleasantville on Monday
November 10, 1928, and that said Common
Council of the City of Pleasantyille will
Ordinance at its meeting to be held il
the City Hall, P~leasantville. New Jersey
on Monday evening, December 3, 1923.
By order of the Common Council o
the City of P~leasantville.
NEHEMIAH ANDREWS,
City Clerk.