The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1926-07-27

hereby appropriate the sum " NiHS-
ty-two Thousand Dollars 1892, 100000
being the amount considered. neces-
sary to purchase said land and build
ings and to make the proper altera-
tions and furnish the same suitable
for the purpose for which 1t is pur-
chased, including an estimated cost
| of architects fees and inspection
during the course of alteration and
And BE IT FURTHER REsoLv-
ED that the money for said appro-
priation hereby made and authorized
nent bonds to be designated "Build-
ing Bonds" to bear interest at the
rate of four and one-half per cent.
(4hT) per annum, payable semi
annually; said bonds to be executed
by the proper officers OF this Board
and be issued pursuant to Chapter
252 Of the Laws Of 1916 and the vari-
Gus amendments thereof and supple
ments thereto. and in compliance
with the requirements of said Act
this Board does hereby determine
and declare the following matters:
A. The period Of usefulness Is thir-
Ity 500 years.
B. The average assessed valuation
of the taxable real property. includ-
ing improvements Of the County of
Atlantic computed upon the three
next preceding valuations in the
manner provided by Section IL.
Chapter 252 of the Laws of 1916 is
1922, 443, 004.00.
Atlantic, computed in the manner
provided in Section IL of the afore-
said Act, including the bonds autho--
rized by this resolution to be issued |
is s3,O80, 321.29.
D. The statements required by
Section IL of the aforesaid Act have
cd in
required.
d. The character of the improve
ment to be made for which the bonds |
are to be issued is the purchase OF
land and buildings thereon and i'm |
provement to said buildings to be
Boys and Girls. and located at Egg
Harbor City. Atlantic County, New
Jersey, but said buildings thereon |
are not fireproof.
And BE IT FURTHER RESOLV-
ED by the Board of Chosen Free |
holders of the County OF Atlantic
that said bonds be dated the II NTH ,s
sued in denominations of 100000 |
each and be numbered consecutively
from one "a to ninety-two (92) in |
elusive. payable as follows: =,
Three 90 bonds beginning with
No. 1 and following in the consec-
paid on the fifth day of August,
1927, and three go bonds following
in consecutive order on the fifty
day of August of each of the years
thereafter up to and including the |
. year 1854, and four (D bonds fol-
lowing in consecutive order on the
fifth day of August of each year
thereafter until the whole amount
is paid.
That they be signed by the director
of this Board, he being the CHIEF pre-
siding officer, and by the CLERK OF
this Board. and countersigned by the
County Treasurer, and be under the
they be coupon bonds and that the
coupons bear the fac smile signature
of the County Treasurer, with the
privilege of registration as to princl.
pal only, or upon surrender OF al
the coupons may be fully registered
as to both principal and interest
that they be sold upon sealed propo-
sails after due advertisement accord
ing to law, and that no more bonds
shall be sold than will produce a sum
equal to Ninety-two Thousand DOL,
lars (s92, 100000 and an additional
sum of less than One Tha Asand Dol
lars ($1 100000. That they rec1te
Chapter 252 of the Laws OF 1916 and
the various amendments thereon ana
supplements thereto. and that the
proceeds are to be used to defray the
cost of the purchase of land and
buildings thereon. and making i'm
provements to said buildings to be
used as House of Detention for
Boys and Girls said land and build
ings being located in Egg Harbor
CITY, Atlantic County, New Jersey.
That said bonds be sold under the
direction of the Finance Committee
in conjunction with the County
Counsel and County Treasurer. and
they are hereby authorized to pro-
coed as rapidly as possible with the
sale and delivery of said bonds in ac-
cordance with the statutes OF this
State. and the proper officers of this
Board be and they are hereby autho-
rized to execute said bonds on behalf
Of said Board, which bonds are not
to be executed or delivered until the
fifth day of August, 1926
This Board hereby delegates to
Enoch l.. Johnson, its chief financial
officer, it's power to award or reject
any or all bids that may be received.
The foregoing resolution was adop-
ted by the Board of Chosen Freehol-
| ders of the County of Atlantic on the
| 14th day of July, 1926. Permanent
bonds authorized thereby will be is
| sued and delivered after the fifth day
| of August, 1926. and any suit. action
| or proceeding to set aside or vacate
said resolution must be taken within
twenty 600 days after the publlca-
ton of this statement.
F. w. WILLETTS,
Clerk