The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1924-01-26
NO. 26o.

AN ORDINANCE to provide for the issu-
ance of Sewer Assessment Bonds of the
City of Pleasantville. New Jersey, il
the amount of Forty-two Thousand
WHEREAS pursuant to the provision:
of an ordinance of the City of Pleasant
ell September 3, 1917. a sanitary sewer
system and disposal plant and house con
nections AVE been constructed and com
pleted. and
of said ordinance, an assessment was duly
made upon the lands benefited by sale
! improvements and said assfssment. q!
finyHy ru1f cJh1irfhed aggrsgated S96.-
370.53. and said assessments were made
payable in five equal annual payments
with interest, the first installment being
payable November l, 1922. and the other
i~nstallments being payable on January 2
in each of the years 1923 to 1926 both in
elusive; and
WHEREAS s53, 554.S0 of said assess
ments heretofore have been paid and
there remain unpaid such assessments in
the principal amount of $42. S15.7 70, and the
total cost of said improvements will be
the sum of 1921, 370.53, and temporary
notes or bonds heretofore nave 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. IS ma
which represents that part of the cost to
be paid by general taxation, $40, 815.73 of
which represents that part of the total
cost to be borne by special assessments
Upon the property benefited by said i'm
provements heretofore duly made, levied
and confirmed now remaining unpaid. and
S14, 954.S so of which represents moneys in
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 $4,000 to fund a like principal
amount of the S42, S15.73 temporary notes
or bonds above described.
Be it Ordained by the Common Council
of the City of Pleasantville, New Jersey:
Section /. Thai 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 10 finance the sewer i'm
provements hat have been made and
completed. pursuant to the provisions of
an ordinance passed by the Common
Council September 8. 1917, entitled An
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 instailments with interest
and now remain unpaid, and which said
temporary notes or bonds are now out
standing and unpaid, and mature Novem-
Section 2. That to raise the said am
cunt of $42.0 600 there shall be sold and
issued negotiable Sewer Assessment
Bonds of the City of P~leasantville New
Jersey. in the principal amount of Forty
two Thousand Dollars. Said bonds shall
be dated November l, 1923, 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 3. The proceeds of sale of said
Sewer Assessment Bonds shall be applied
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
Section 4. It is hereby determined and
(a5 The period within which said Sew
err Assessment Bonds shall be paid is
four years from November 1. 1928. which
said period is less than two years after
the time when the last in~stallment of
said assessments will become delinquent.
OBJ That the average assessed valua-
ton of the taxable real property Gnclud-
improvements of such municipality
computed upon the next preceding three
valuations thereof in the manner provid-
ed in Section u of Chapter 252, Laws OF
595. i68.
pality computed in the manner provided
in said Section u of Chapter 252, Laws
of New Jersey of 1916, as amended and
supplemented is S245, 971.43.
Id 1t is hereby certified that the sup
Elemental debt statement required by
Section y of Chapter 252, Laws of New
Jersey of 1915 as amended and supple
has been filed in the office of the
City Clerk.
Section 5. This ordinance shall take
effect Immediately after final passage and
publication.
The foregoing ordinance was passed by
the Common Council of the City of Pleas
a|ntville. n. j., on December g. 1928, and
was approved by the Mayor on the 18th
of December, 1928.
The bonds authorized thereby will be
issued and delivered after the 18th DAY
of February. 1924, and any suit. action or
to set aside or vacate this
ordinance must be begun within twenty
days after the publication of this state
ment.
NEHEMIAH ANDREWS.
City Clerk.