The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-04-01

and the Board az School Estimate Of
1 the City School DiStrict of the city III
! Pleasantyille have, h. appropriate PRO-
/ ceedingS fixed and estimated tho sum
of Thirty-tive Thousand (S35, 100000
! Dollars, as the amount nece ssary to
i pay the cost of the purchase OF iand
! upon which it is proposed TO erect a
I high school building in the City of
I PlcasantViile and certificate OF the
| Board of School Estimate to that ef-
feet has been July snasie and delivered
to the Board of Education and to the
Common Council of said City:
Now, Therefore. for the purpose of
concurring and consenting thereto, be
il ordained by the Common Council of
/ the City of Pleasantville:
Section l. That the sum of Thirty
five Thousand (S35, 000.00) Dollars. be
and the same is hereby appropriated
Tor the purpose OF the purchase of
| land upon which it is proposed to erect
a high school building in the City of
Pleasantville, which is a tract three
hundred feet fronting on Franklin
Boulevard by a depth of two hundred
fifty feet, extending at right angles
thereto, and is bounded by Franklin
Boulevard, Madison Avenue, Chester
Avenue and Ansley Boulevard. as
shown upon a map of Ansley Park.
Pleasantville. New Jersey, being the
development of the Seaboard Develop
y
nue., Atlantic City, New Jersey. which
tract is to be purchased for the sum
of thirty five thousand 1885 100000
Dollars under an agreement upon the
part of the said Seaboard Development
Corporation to fill in and grade the
same to such grade as shall be desig
mated and required by the Board of
Education of the City of Pleasantville.
Section 2. That for the purpose of
providing funds to meet said appro-
priation and to pay for the cost of the
purchase of said land. there shall be
shall be general obligations of the
City of PleasantVille in the principal
amount not exceeding Thirty-fve
Thousand (S35 100000 Dollars, bearing
interest at rate not exceeding six
per centum per annum. Such tempo
rary loan bonds shall be issued in
anticipation of either the levy or coll
lection of taxes or of the authorize tion
and sale OF permanent bonds, as may
subsequently be determined. Said
temporary loan bonds shall be signed
by the Mayor, sealed with the corpor-.
ate seal of the City, attested by the
City Clerk Said temporary loan
bonds shall be negotiated by the City
Treasurer for not less than par and
accrued interest and all other matters,
with respect to the Issuance, sale,
form and delivery of such temporary
loan bonds are hereby left to the dis
erection of the City Treasurer, provid-
ed, however, that said bonds shall ma
ture in not less than one year from
their date and may be issued in one
installment, or from time to time. as
the money is called for by the Board
of Education. and they may be re-
newed from time to time by the issu-
anCe of similar temporary loan bonds,
provided. the renewal temporary loan
bonds shall mature in not exceeding
three years from the date of the orig
inal temporary loan bonds for the re-
newal of which they are issued. and
further provided that the total amount
of such temporary loan bonds and any
renewals thereof, outstanding at any
one time, shall not exceed the prin-
cipal sum of Thirty-five Thousand
($35,000.00J Dollars.
Section s. That this ordinance shall
take effect Immediately after final pas
sage and publication.
Notice is hereby given by the Com
mon Council of the City of Pleasant
vile, n. j., that the foregoing ordin-
a regular meeting held on the 21st day
of March, 1927, and will be further con-
sidered by said Common Council at a
regular meeting to be held in City
Council Chamber, City Hall. Pleasant
vile, on the 4th day of April. 1927. at
S o'clock in the evening. for third and
final passage at a public hearing.
NEHEMIAH ANDREWS,
City Clerk.
Dated March 81, 1927