The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-09-30
PLEASANTVTLI- ORDINANCE
NO. 336

AN ORDINANCE making an appfo-
priation for the erection. furnishing
and equipping of new High School
building ON the Franklin Avenue
site IN the City of P1easantville, and
authorizing the issuance of perma-
ri nent bonds in the amount of six hun
$50 dred and Thirty-five thousand dol
lars to pay the cost of said site and
erecting. furnishing and equipping
- said school building.
Whereas. the Board of School Esti-
mate and the Board of Education of
the City of Pleasantville by proper
Proceedings have heretofore estimated
that $4,000 was necessary to purchase
site on Franklin Avenue, in the City
School District of Pleasantville, N j.
known as Block L." as shown upon
a map of Ansley Park. Pleasantville.
New Jersey. which said lot is tract
of ground 300 feet on Franklin Avenue
by $50 feet in depth, and
Whereas, said amount of $50, 900
heretofore has been duly appropria ted
and said site has been acquired and
the cost thereof has been temporarily
financed by the issuance of temporary
school obligations of salt, City in the
amount of S35 1000. which are outstand-
ing and unpaid. and it is necessary to
fund the same by the issuance of per-
manent bonds, and,
Whereas. the Board of School Esti-
mate and Board os Education of said
City by proper proceedings have here
---t3fofe estimate that the sum of $780,
900 is necessary for the construction
Of said new high school building and
the further sum of $4,000 is necessary
for furnishing and equipping the same
and the certificate of the Board of
School Estimate to that effect has been
delivered to the Common Council and
ITO the Board of Education.
F- Be 1t Ordained by the Common
council OF the City of Pleasantville.
Section !. That the sum of Six
Hundred Thousand Dollars (s600.0OO
be and 10 hereby appropriated to pay
the cost of erecting, furnishing and
eauipping of new high school build
ing on the. Franklin Avenue site in
the City School B;-trict of the City of
Pleasantville, New Jersey.
Section 2. That there shall be rails
ed the sum of Thirty-five Thousand
Dollars (s35,O0 to fund like princi-
pal amount of temporary obligations
sof the City of Pleasantville now out
standing and unpaid issued temporar-
lily to pay the cost of acquiring said
school site.
Section 3. That said amounts ag-
gregating Six Hundred and Thirty five
Thousand Dollars 1885. 5000 shall be
borrowed for such purposes and the
srepayment of such sum together with
interest thereon shall be secured by
the issuance of School Bonds in the
corporate name of the City of Pleas
antviiie. pursuant to the provisions of
ar act of the Legislature OF. the State
of New Jersey. entitled An Act to
establish thorough and efficient sys-
tenn of free public schools and to pro-
vide for the maintenance. support and
management thereof" approved Octo-
her 10. 1903. and the acts ameDda tory
thereof and supplemental thereto.
ss~Sectior A. That said bonds shall be
lsSued in the aggregate principal am
cunt of s635,000. of the denomination
Of One Thousand Dollars Isl. 900 each.
TO e-sxr 4
thirty-ffve (635) both inclusive, da ted
October /. 1927, and maturing in nu-
merical order as numbered. fifteen Q5)
ponds aggregating $4,000 on the first
DAY OF October in each of the years
1928 to 1857. both inclusive, and TWEEN
ty GOD bonds aggregating $4,000 on
the first day of October in each of the
years 1858 to 1867 both inclusive
Section 5. That said bonds shall
bear interest at rate not exceeding
six per centum per annum and the in
-tefest thereon shall be payable semi
annually April 1 and October /. Said
bonds shall be signed by the Mayor
and City Treasurer and seaIed with
the corporate seal of the City. attested
by the City Clerk. and the coupons.
" any. attached to said bonds shall
be signed with the fac-simile sigma ture
OF the City Treasurer. and said bonds
shall be sold in the manner provided
by law for not less than par, and all
other matters with respect to the is
ssuance, sale and form of said bonds
sylsall be determined by resolution of
the Common Council
- Section g. The City shall in its an
nHal tax levy raise money sufficient to
nay the interest and principal of said
bonds as may mature during each year
s-sSection q That 5000 of the pro-
sceeds of sale shall be applied solely to
the funding of the temporary obliga-
Hons of said City heretofore issued to
pay the cost of said school site and
the balance shall be applied solely to
the cost of erection. furnishing and
eduipping of said new school building
and to the payment of the cost of is
suing the bonds.
Section 8. IT is hereby determined
that the period within which said
bonds shall mature is 40 years, said
improvement being classified as the
construction of a building of fire. proof
construction and the acquisition of
land for school purposes.
Section 9. That this ordinance shall
take effect Immediately upon its pas
sage and publication as required by
Notice is hereby given that the fore
Going ordinance was introduced at a
regular meeting of PleasantvilIe City
Common Council, held in Common
Council Chambers. City Hall, Sept. 49,
1927. and passed first reading. and that
" will be considered for second and
6I1a1 readings at a regular meeting at
6o'clock p. NJ, Oct. 3. 1927. in Com
mon Council Chambers, when the pub
tic will be given an opportunity to be
heard concerning the same.
NEHEMIAH AliDPEWs,
City Clerk.
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