The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1926-05-18
Dated May Is, 1926 e
soMFes POINT ORDINANCE.

~, ORDINANCE providing for the
purchase of certain lands in the
City of Somers Point, belonging to
the Estate of Henry ID. Justi, de-
ceased, and providing for the is
suance of bonds of the City of
to provide funds for the purchase
thereof.
Be it Ordained by the Common
Council of the City of Somers Point:
Section /. That there shall be
purchased by the City of Somers
Point for future erection of munici-
pal buildings or other municipal uses
in the City of Somers Point describ-
ed as follows:
BEGINNING in the Northeast line
of the Shore Road and at the
South corner of lot No. IS and runs
(1st) Northwesterly in the line OF
said lot No. 6S n hundred n fifty
feet to a thirty-three feet wide
street, then in the same line across
said street, from the Northwest line
of said street one hundred twenty
eight and a half to the line of the
Pleasantville and Ocean City Rail-
road, thence End Southwesterly in
the line of said Railroad one humid
red feet, thence go Southeasterly
and parallel to the first line, two
hundred and ninety-three feet, ex-
elusive of the thirty-three feet wide
Shore Road, thence Q) Northeasterly
in the line of the Shore Road one
hundred feet to the place of begin
ming, it being Lots Nos. 50. 70, n
and ~, on a map of Jesse SomerS
Land Section No. l, the legal title to
which said land is presently vested
in Henry NJ. Justi, Executor under
A. WIN 80 Jn,. n T,,ett lN4Aoo4l
Augusta E.. Justi, Amelia r. JUST,
Henry NJ. JUST and Elizabeth NJ,
Justi, for the sum of Twelve Thous-
and Dollars G12, O00).
Section 2. That it is necessary to
raise the said sum of Twelve Thous-
and Dollars (S12, 000) for the pur-
chase of said land; that in order to
raise the said sum there shall be is
sued general improvement bonds OF
principal amount of Twelve Thous-
and Dollars ($12. 000) which shall ma
ture within the average period OF
usefulness hereinafter determined.
Section B.. That the proceeds OF
sale of said bonds shall be applied
solely to h payment of the purch-
ase price of said land anu premises.
raised annually by tax upon the tax
able property of said City a sum
sufficient to pay the principal and
interest of said bonds as the same
become due.
Section 5. That it is hereby de-
termined and declared:
(a). That the probable period of
usefulness OF the land aforesaid is
forty years.
(b) That the average assessed
valuation of the taxable real proper
ty (including improvements of the
City of SOmers Point computed upon
the next preceding three valuations
thereof in the manner provided in
Section - of an act entitled, IAN
to authorize and regulate the is
suance of bonds and other obliga-
tons, and the mourning of indebted
ness by county, city, borough, village,
town. township or other municipality
governed by an improvement Com
mission" Up. l.. 1916, page $3.50 as
amended is $1,575.754.
(c) That the net debt Of said city
computed in the name provided in
Section - of said Act as AMENDED
is 1851, 406. S5.
(d) The supplemental debt state
ment required by. Section ~ of said
Act as amended has been made and
filed as required by said Section IL.
Section g.. That the Mayor and
City Clerk be and they are hereby
authorized and directed to execute
and deliver with the said parties
named in Section hereof an
Agreement of Sale for the purchase
of said land and premises in form as
approved by the City Solicitors.
Section T. That this ordinance
shall take effect ten days after the
publication thereof after final pass
age
Notice is hereby given by the Com
WAN aCp,,nnil of thA CitXr nf Cnn,nrc
Point that the foregoing ordinance
was introduced and passed first read
ing at a regular meeting held on Fri
day evening, May IA. and that said
Common Council of the City of Som
ers Point will hold a hearing and
consider the final passage of the
above at its regular meeting to be
held in Common Council Chambers,
City Han. Friday evening. May 2S.
at s o'clock daylight saving time.
JAMES G. SCULL,
City Clerk.