Beverly banner. [volume] (Beverly, N.J.) 1877-1964, 1925-07-24
An Ordinance

Providing for the Issuance Of Tenn
porary Road Improvement Notes. the
proceeds, of which are to be used for
The Improvement OF the westerly end
of Front Street in that part of the
Township of Florence known as
Florence.
BE IT ORDAINED AND ENACT
ED by the Township Committee of
Florence Township, and it is hereby
enacted by the authority of the same.
Section l. That the westerly end
of Front Street in that part of the
Township of Florence. known as
Florence between the westerly end
of the present improved portion
thereof and the Burlington Florence
Township line, be improved similar
to the present paving or roadway on
said Front Street, to wit: the base
to be constructed of stone, with a
sheet asphalt surface; said improve
ment to be constructed in conjunc-
ton with the County of Burlington,
the County to provide and pay for
the base of said road and the Town
ship to pay for the sheet asphalt,
not to exceed the sum of Seven
Thousand Dollars.
Section 2. The sum of Seven
Thousand ($7000.00) Dollars is here
by appropriated for the payment of
the cost of said improvement, and in
order to meet said appropriation and
to temporarily finance said purpose
Temporary Improvement Notes of the
Township of Florence shall be issued
pursuant to an Act of the Legisla-
ture of the State of New Jersey en-
titled San Act to authorize and reg
ulate the issuance of bonds and other
obligations and the mourning of in
debtedness by county, city, borough,
village, town, township or any munic-
ipality governed by an improvement
commission" approved March 22nd,
1916, and the acts amendatory there
of and supplemental thereto. Said
notes shall be issued in the principal
amount of not exceeding Seven Thou
sand ($7000.00) Dollars, shall mature
in not more than six years after the
purpose for which they are issued
has been carried out, and shall bear
interest at not exceeding six per
cent per annum. Said notes shall re-
cite that they are issued for the pur-
pose Of temporarily financing the Inn
provement of the streets and high
ways directed to be improved in ac-
cordance with the provisions of this
ordinance.
Section 3. The notes issued here
under shall be signed by the Chair
man of the Township Committee, and
by the Treasurer of said Township.
and the seal of the Township shall be
affixed thereto, attested by the Town
ship Clerk.
Section A. The faith and credit of
the Township of Florence is hereby
pledged for the punctual payment of
the principal and interest of the
notes herein authorized, and unless
the said principal and interest is
otherwise paid the same shall be paid
out of the proceeds of taxes which
shall be levied and collected at such
time or times and in such amounts
as may be necessary for such pay
ments upon all the property in the
Township subject to taxation, in the
same manner as other taxes are
levied and collected.
The foregoing Ordinance was con-
sidered on second and third readings
at meeting of the Township Conn
mittee of Florence Township held at
Florence, New Jersey, on Wednes-
day evening, July 22nd, 1925, and
after a public hearing given in con-
ton with said Ordinance it was
adopted on final passage.
Dated July 23rd, 1925. -
CHARLES B. IA. ~
Towns 4 ID" ,-ssfK.