The Pleasantville press., 1926-10-19

making the total cost of said
Improvement the sum of. -, SEQ. d00. GA
and
WHEREAS no appropriation las
heretofore been made for said inn
pro7cmcnt:
NOW THEREFORE, BE IT RE
SOENED by the Board of Chosen
EfreeholdcrS Of the County Of A,tant.c
that We do hereby appropriate the sum
OF Twenty Thousand Dollars (S26. 900
90 being the amount considered nee
cSSary to meet the cost of carrying out
the Improvement aforesaid, Including
III" interest which will accrue on the
money necessary to finance the same
during the period of construction and
ior SIX months thereafter, the cost of
issuing the bonds To pay for said inn
provcnlcnt and also the estimated cost
of engineering and inspection, includ
lnG proper portion of The compensa
ton, salary and expenses of the enei-
neering staff chargcabe to said inn
proNenlent.
And the money for said appropria-
ton is hereby authorized to be raised
by the Issuing OF permanent bonds to
De designated "ltoad Improvement
Bands to bear interest at the rate OF
five per cent 39ot per annuin. payable
Sem annually; that said bonds be cX-
eeuted by thc proper officers OF this
Board and he ISSUED in pursuance of
I
The various amendments thereof and
supplements thereto, and in compli-
ancc with the requirements OF said
Act. this Board does hereby dcterninc
and declare the following matters:
y. The period OF usefulness of the
Improvement for which the honds are
to be issued is five 60 years
Il. The average assessed valuation
Of the taxable real property, includmg
improvements OF the County of Allan
tic computed upon The three next pre-
ceding assessed valuations in The man
ner provided by Section II of Chapter
252 of the LAWS Of 1916 is $292. .ii3.-
00f o..
c. The met debt of the County Of
Atlantic, computed in the manner pro-
vidcd in Section i2 of the aforesaid
act. including the bonds authorized by
this resolution to be issued is $i.2l3.-
3sf2 90
u. The statements required by Sec
ton IL of the aforesaid Act have been
made and filed as in said Act required.
T.. The character of the road im-
pnovcnent TO be made, for which said
bonds are to he ISSUED, is a road of
sand and gravel construction: and
BE IT FURTHER RESOLVED fN
the Board of Chosen Freeholders of
the County of Atlantic that said bonds
he dated the first day of November.
1926: that they he issued in denomina-
tions of $1,000 each and he numbered
consecutiVely from one % to twenty
(20J, inclusive. payable as follows;
Five t5) bonds on the first day of
November, 1928. and FIVE 90 bonds on
the first day of November of each year
thereafter until the whole amount is
paid payments to be made in their
numerical order beginning with Num-
Der One %.
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 Cotn-
ty Treasurer. and he under the, corDo-
rate seal of this Board. and that the
coupons bear the fac -simile signature
of the County Treasurer; that they he
coupon bonds. with the privilege of
rcgistra ton as TO principal only. or
upon surrender OF all the coupons may
be fully registered as to both principal
and interest: that they be sold upon
sealed proposals or bids after due adj
vertisement according to law. and no
more bonds shall be sold than VIII
produce n sum equal to Twenty Thou
sand Dollars t$20.000.00) and an aat'i-
| fional sum of less than One Thousand
| Dollars ($1 100000. That they lecite
I that they are issued pursuant TO Chap-
! ter 252 of the Laws of 1916 and the
| various amendments thereof and sup
plements thereto. and that the pro-
ceeds are to be used for the purpose
of building street GO feet wide from
! The shore road. sometimes called the
| Ocean Highway TO the New Road at
it's junction with the White Horse
Pike, That they be sold under the
direction of the Finance Committee in
| conjunction with the. County Solicitor
l and County Treasurer, and they are
I hereby authorized to proceed as rapid
! ly as possible with the sale and deliv-