The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1924-07-26

NOW THEREFORE, BE it Ordained by
the Common Council of the CITY Oh
section i. We do hereby declare that
the average period for which the bonds
hereinafter provided for may be Issued
| the Laws of 1921 is thirty 800 years.
Section 9. That there be and there Is
hereby appropriated the, sum of $,16,509
| for the purpose of purchasing land and
building a new school-house thereon and
properly equipping and furnishing the
same.
Section 8. To provide the necessary
funds for the purposes mentioned in Sec
ton 2 and for which the said approprla-
ton therein mentioned is m Ga,rtb bfere
under it's corporate seal, signed by the
Mayor, attested by its City Clerk and
countersigned by the City Treasurer
bonds of the City in an amount not eX-
ceeding SAG, 500 for the purpose of provld-
ing funds for the payment OF the COST
and expense of purchasing land and bull
ding a new school-house thereon and
properly equipping and furnishing the
same; such bonds shall be in the denomi-
nation of $500. numbered from to s9ii
Bonds, bear date the list day of July,
1924, and to be payable as follows: In
the order of their serial number at the
rate of three bonds per annum beginning
with the year 1926, to and including the
year. 1913, and at the rate Of four bonds
per annum beginning with the year l949
to and including the year 1884. Ihey
shall be coupon bonds bearing interest at
the rate of five per cent. per annum,
payable semi-annually, coupons to bear
the facsimile signature of the City Treas
urer. The may be registered as TO prln-
cipal only, or upon surrender of all the
coupons, may be fully registered as TO
principal and interest. They, snail be
payable at the First National Bank of
Pleasantville, in City of PleasantVllle
State of New Jersey, and the Common
appropriate and provide by taxation in
the annual tax levy of said City, such
sum as may be necessary to pay the, in
terest on said bonds and to redeem them
as they shall severally become due and
payable, and the credit and faith of the
City of Mortified and the inhabitants
thereof shall be pledged for the faithful
payment of said bonds and the interest
thereon as the same shall become due
and payable.
and City Treasurer be and they are here
., by authorized to execute said bonds II
) conformity herewith and the City Treas
urer be and he is hereby authorized ano
as the chief financial officer. is hereby
designated to sell said bonds and receive
or reject any and all bids, That tn
bonds shall be sold upon sealed proposals
or at public auction after legal adVer
tisement for not less than par value an'
accrued interest in accordance WIN IN,
' Statutes in such case made and provided
That the advertisement of sale shall b
Z published in Gazette-Review, Atlantl
: City, n. j., and Pleasantville Press; Plea
santville, N. j., two newspapers publishe
:. and circulating in the City of Northhelo
County of Atlantic and State of New Jer
sew. and at least once in THE Bond Buy
err, a financial paper published in tn
City of New York. County and State {
New York.
Section 5. That the proceeds realize
1 from the sale of said bonds shall be pal
J to the custodian of the school funds an
shall be paid out by him and applied
J the purposes aforesaid. -,
Section 6. This ordinance shall TAX
effect Immediately after final passage an
Passed third and final reading the 21
day of July, A. d. 1924.
MORRIS l.. PARSELS,.
President of Common Council.
Approved July 81, 1924.
EUGENE SWILKEY,
Mayor.
=. ~ GEORGE H. MULLER.
80 Citv Clerk.