The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1926-12-07
ORDINANCE NO. 315.


AN ORDINANCE appropriatinS the
sum of s12.000.00 Cor the purpose OF
erecting a four room Portable School
Building in the city of TlcasantVille
and pro :.,i..;...;i,, for temporarily imam
cling the said undertaking.
WHEREAS tie Board of Educa-
ton and the Board OF School Estimate
of the city School District of the City
Of Pieasantvillc have by appropriate
proceedings, fixed and estimated the
sum of twelve thousand t$l20h0 b0l
dollars, as the amount necessary to
pay the cost of the erection and con
Struction in said City School District
of Il certain four room portable school
building and Il certificate Of the Board
of School Estimate to that effect has
been duly made and delivered to the
Board of Education and to the Com
mon Council of said City:
NOW. THEREFORE,, for the pur-
pose of concurring and consuming
thereto be il ordained by the Common
Council of the City OF PlcasantVilir:
Section / That the sum of twelve
thousand t$l2 100000 dollars. be and
the same is hereby appropriated Tor
the purpose of the erection and con
struction OF a four room por,ilnc
school building in the City of Pleas
autvillc upon property of the Board
of Education at Woodland Avenue and
Main Street III the said City of Pleas
antvile.
Section . That for the purpose Of
providing funds to meet said appro-
priation and to pay for the cost of the
erection and construction of said
school building, there shall be issued.
temporary loan bonds which shall be
general Obligations of the CITY OF
plcasantville in the principal amount
not exceeding twelve thousand t$i2. =
100000 dollars, beafing interest at a
to, n\anadinfr CT fpl1t he
annum. Such temporary loan bonds
shall be issued in anticipation OF ell
ther the levy or collection of taxes or
of the authorization and sale of per
manent bonds, as may subsequently
be determined. Said temporary loan
bonds shall be signed by the Mayor,
sealed With the corporate seal of the
City. attcSted 10y the city CLERK Said
temporary loan bonds shall be nego-
tiated by the City Treasurer for not
less than par and accrued interest ana
all other matters, with respect to the
issuance. sale, form and delivery OF
such temporary loan bonds arc hereby
left to the discretion of the city
Treasurer. provided, however. that
said bonds shall matur" in not less
than one year from their date and
may be issued in one INSTRUMENT, OF
from time to time. as the money is
called for by the Board OF Education
and they may he renewed from time
to time by the issuance of similar
temporary loan bonds, provided. the
renewal temporary loan bonds shall
mature in not exceeding three years
from the date of the original tempo
rary loan bonds for the renewal of
which. they are ISSUED. and further
provided that the total amount of such
temporary loan bonds ;nd any renew
ais thereof outstanding at amy ono
time. shall not exceed the PRINCIPAL
sum .of lively" thousand $12.Q00.Q0)
dollars.
SECTION 3 That this ordinance shall
take effect Immediately after final
passage and publication.
Passed on third and final rcading
after = hearing ut regular meeting
of Plcasantyill" City Council held in
Common Council Chambers. city
Ifal, PleasantVille. n. J.. November
Ia, 1926.
GUY 3. WILSON.
President. Common Council.
Approved: Charles l.. Jackson,
Mayor.
Attest. Nehemiah Andrews.
city Clerk.
Dated November 10, l92G.