Perth Amboy evening news., 1923-05-04


Whereas the Board OF Education of the
City of Perth Amboy has decided that
IL Is necessary to raise the sum of Two
Z Hundred and fifty thousand t$250. 000) Dol
Glars for the purpose of erecting and fur
! nishlng a school building on the block
4 Bounded by Hall Avenue, Alta Vista
place, Arnold Avenue and Jacques Stree
LIN said city. and has. pursuant to the pro-
,visions of an act of the legislature of the
q state of New Jersey, entitled IAN act to
establish a thorough and efficient system
4ot free public schools. and to provide for
the maintenance support and manage
ment thereof" approved October 10, 1908,
kand the acts amendatorv thereof. prepar.
Ised and delivered to each member of the'
&Board OF School Estimate of the civ Of
EPerth Amboy a statement of the amount
of money estimated to be necessary for
such purpose. and
Whereas the Board of School Estimate
OF the City of Perth Amboy has fixed
and determined the amount necessary Tor
such purpose at Two huudred and fifty
y.nousand ts1eo.osol dollars. and has inede
tive certificates of such amount, one of
(which was duly delivered to the Board Of
Education and the other to this Council.
NOW. THEREFORH, be 1t ordained by
fhe City Of Perth Agpboy, as follows:
81 Section l That there is hereby apnro-
Prlated Tor the purpose Of erecting and
9urnishing a school building on the
I5IloscGa pounded by Hall Avenue, Alta
Strel In the City of Perth Amboy, said
building to be Of non fireproof CONSTRUCT
son as defined In the aforesaid act. chat
US TO say. having outer walls of brick,
STONE, iron or other hard incombustibie
mIterial. and In which the floors stair
nalls and public halls are built entirely of
Drlek. stone. iron or other hard material
ana IN which no wood work or other In
Aiammable incom hustibie material is used I'm
any OF the partitions. fioorings or ceilings.
me sum OF Two hundred and tifty ihcus-
and ts25O,o00) Dollars. =
section 2. That there be Issued Scr
me purpose Of raising said sum bonds In
tne corporate name of city of Perth Amboy
thousand G250. 000) Dollars. or such lesser
amount as upon the sale thereof sh ali prb-
nuee SAID amount which bonds snaIl be
DESIGNATED as School Bonds" shall bear
date OF July l. 1923. shall be of he de-
n~orunation of One thousand ts1, 0OO) Doll
i3rs each. numbered l TO ESQ. both In
elusive, shall bear interest at the rate of
Tour and three quarters (4N ca per cent
UNI per annum. payable semi-annually on
the first day of January and the first day
OF July in each year. and shall mature in
numerical order as follows. six bonds on
fthe first day OF July Of each of the years
y lsYo to 1857. both inclusive. seven tonds
on the first day of July of atca. of the
years 1883 to 1858. the first day of July
4 1883, and nine bonds on the first day OF
July of each OF the years 1853 to 1863
both inclusive. Said bonds shall be signed
by the Mayor and Treasurer and a..cs.ed
oy the CITY Clerk under the corporate seal
or the City. and theNnterest coupons there
TO attached shall be authenticated by The
facsimile signature of the City Treasurer.
me principal and interest Of said Lords
shall be payable at the office of the City
treasurer In the City of Perth Aniboy.
Section 3. The property. faith and
credit of the City are hereby and shall
remain pledged to secure the payment of
the principal and interest of said bonds.
The City Council of the City Of Perth AM
iDoy shall yearly. so long as any of scid
ponds shall remain outstanding. cause to
pc assessed. raised and collected by tax
IN the same manner as other city taxes
are or shall be raised and c,liecfei The
amount necessary to meet The interest to
accrue on said bonds In the ensuing wear
and the principal Of such bonds hall ma
ture in said year.
Section 4. Said bonds shall be issued in
such form as may be hereafter prescrihed
by resolution of this Council. Said bonds