The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-06-03


did heretofore ON the 18Th day of APP
Ri, 1921, pass a certain resolution for
the issuance of Temporary Road Inn
provement Bonds in the sum of Two
Hundred Forty-two Thousand Dollars
sfS242,U 1850. 001 and appropriated the
funds arising therefrom 10 finance
the reconstruction and paving of n
portion of the County road leading
from DaCosta TO Hammonton. being
portion of what was formerly known
as the White Horse Pike. and par
ticalarly set forth therein. and
WHEREAS. pursuant TO said reso-
hutton Temporary Road Improvement
Bonds were issued N The total sum
of Two Hundred Forty Two Thousand
Dollars CS242. 100000. which lends
were dated June LIST, 1921. and matur-
ed On June LIST. 1927. and
WHEREAS. the County of Atlantic
did redeem Fifty Thousand Dollars
$3.50 000 00J worth of said ponJs on
October -. 1921, ana there has mere
Iofore been raised by taxation and
paid in 10 the Sinking Fund t'o'1.cis-
sion OF the County o. Atlantic the
sum OF Sixty-four Thousand Goils,rs
1864. 00G.00J 10 be used toward the re
sdeinpfion OF said bonds. and did
place in the tax levy of the County
in the year 1927 the sum OF Twelve
Thousand Eight Hundred Dollars
(s12, 100000 10 be used toward the re-
deemption of said bonds. leaving a
deficiency OF One Hundred Fifteen
Thousand Two Hundred Dollars
(S115. zoos go for which there has been
no appropriation OF provisions here
tofore made for the redemption Of
said bonds which fall due on the first
day of June. 1927. and
: WHEREAS, il is necessary TO issue
permanent bonds of The County of At
santic in the sum of One Hundred
Sixteen Thousand Dollars ($ll6.0o0.00)
TO fund the remainder of said Tenn
Dorary Road Improvement Bonds is
sued in the total sum of Two Hundred
Forty two Thousand Dollars ($2f2,-
600 .00J. after deducting the sum of
Fifty Thousand Dollars tS50,B0O00)
which was redeemed as aforesaid.
and the sum of Sixty-four Thousand
Dollars 1854. 100000 now in the Sink
ing Fund Commission of the County
of Atlantic aforesaid. to be used for
the pa ynent of the same, and also
the sum of Twelve Thousand Eight
Hundred Dollars (Sl2, 500. go raised i'm
the TAX budget of 1927 TO be used to-
ward the redemption of said bonds,
which sum of One Hundred Sixteen
Thousand Dollars ($1l6,00000) is nee
acSSarS 10 make up the balance ana
pay the estimated cost Of issuing said
bonds. And.
heretofore been made for paying said
Temporary RoaS Improvement Bonds.
except as above stated.
NOW. THEREFORE,, BE IT RE
SOLVED by the Board of Chosen
Freeholders of the County of Atlantic
that il does hereby appropriate the
sum of One Hundred Sixteen Thous-
and Dollars (S116.000.00). being the
amount considered necessary 10 be
raised for the purpose Of funding said
Temporary Road Improvement Bonds
after applying the SiXty-four Thous-
a hs
Sinking Fund, and the Twelve Thous-
and Eight Hundred Dollars (sl2, 00.60J
included in This years tax budget to-
ward the redemption of said bonds.
which sum Of One Hundred Sixteen
Thousand Dollars ($ll6. 000.00} is to
be- used for the purpose OF paying the
Temporary Road Improvement Bonds
OF the County of Atlantic which Will
remain outstanding and unpaid after
The amount in the Sinking Fund and
in the tax levy as aforesaid shall be
applied toward the redemption there
of, and for the purpose of defraying
the cost of issuing said bonds which
is hereby estimated at the sum OF
Eight Hundred Dollars ($S00.00J.
And BE 1T FURTHER RESOLVED
by the Board of Chosen Freeholders
of the County of Atlantic that for the
purpose of raising the sum of One
Hundred Sixteen Thousand Dollars
($lI6. 600 00) there be issued perman
ent negotiable Road Improvement
Bonds of the County Of Atlantic in
the aggregate principal sum Of One
Hundred Sixteen Thousand Dollars
(S1l6,00 00) numbered from one az
TO one hundred sixteen Ol6) both in
elusive. of the denomination of One
Thousand Dollars (Sl 100000 each; to
he dated June LIST. 1927, and bear in
terest at the rate of four and one
half per centum a 1, 90 per annum.
payable semi-annually on the first
day Of June and the first day Of De-
ceTnber of each year until said bonds
shall have been paid. That said bonds
shall mature in numerical order as
follows:
Twelve Q2) bonds. aggrega ting
Twelve Thousand Dollars ($l2000.00)
on the first day Of June, 1928.
Thirteen Q3) bonds. aggregatinE
Thirteen Thousand Dollars ($l3 900. 90
on the first day OF June in each Of
the years 1929 TO 1886. both inclusive.
each OF which bonds shall be designa
ted Road Improvement Bonds.
That said bonds shall be issued pur-
suant 10 Chapter 252 of the Laws OF
1916 as amended and supplemented.
and in compliance with the require
fnents OF said Act. this Board does
hereby determine and declare the fol-
lowing matters:
A. The probable period Of useful
the bonds are 10 be issued is fifteen
(l5) years.
b. The average assessed valuation
OF the taxable real property. includ-
ing improvements Of the County Of
Atlantic. computed upon the three
next preceding assessed valuations in
the manner provided by Section y.
Chapter 252 of the Laws OF 1916. as
amended and supplemented is SS45,-
II5. S43.0d.
G. The net debt OF the County Of
Atlantic. computed in the manner pro-
vided in Section 10 of the aforesaid
Act, including the bonds authorized
by this resolution To be issued, is
$4.gI9. sos. 66.
ID. The statements required by Ser
ton u Of the aforesaid Act, have
been made and filed MS in the said
Act required
II. The character Of The road inn
I,rovemenf 10 be made for which said
bonds are to be issued, is a bitumin-
Gus concrete construction.
AND. BE 1T FURTHER RESOLV-
Ed by the Board of Chosen Freehol-
ders OF the County OF Atlantic, that
said bonds be signed by the Director
Of this Board, he being the chief pre-
siding officer. and by the Clerk OF
flfis Board, and countersigned by the
County Treasurer. and he under the
corporate seal OF this Board. and that
fhe coupons bear the fac-simile sigma
lure Of the County Treasurer: that
they be coupon bonds with the priv
iiege Of registration as to principal
only or upon surrender of all the
fso,lpons may be fully registered as
10 both principal and interest That
they be sold TO the Sinking Fund
rolnlssission Of the County OF atlantic
vi mar and accrued interest: that they
recite that they are. issued pursuant