The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-08-16
= ysECoND sEcTIONy
NOTICE..

u,
Egg Harbor- Green Bank Road to the
Lower Bank Bridge, in the City of
Egg Harbor, Atlantic County, New
Jersey; eand,
WHEREAS, the plans and specifi-
cations were approved by this Board
at it's regular meeting held on July 10,
1927, and ordered sent to the State
Highway Commission for its approval;
and,
WHEREAS, the State Highway COM
mission did by letter dated July 28,
1927, notify the Clerk of this Board
that the plans and specifications were
rejected on account of lack of funds
and did authorize their Secretary to
notify this Board of that fact in order
that the County may proceed with the
work from its own funds, in accord
ance with the statute thereunto APP
pertaining; and.
WHEREAS, the Clerk of this Board
did, in accordance with instructions
contained in resolution of July 10,
1927, advertise for bids for the con-
struction of said road in accordance
with plans and specifications approx
ed by this Board and presented to the
State Highway Commission; and,
WHEREAS, in accordance with said
advertisement sealed proposals or bids
have been called for. pursuant to said
advertisement, and for the purpose of
ascertaining the cost of the improve
ment and for the further purpose of
awarding the contract hereunder.
providing the bids should be consider
ed reasonable by this Board; and,
WHEREAS, the bids for making
said improvement to said road sub
mitted by sealed proposals have been
. received and opened and the lowest
bid for doing said work is the sum
and the Board does hereby
estimate the cost of engineer
ing and inspection, including
q proper portion of the COM
pensation, salary and eXpens-
es of the engineering staff
chargeable to said improve
ment at the sum of ...... 2.50O.00
and also estimates the cost of
issuing the bonds to pay for
said improvement to be the
sum of 400 90
and estimates that the inter-
est which will accrue on the
sum necessary to finance the
same during the period of
construction and for six
months thereafter will be the
sum of 2.419.90
making the total cost of said
improvement the sum of ID. $50, 600. 90
And, WHEREAS, no appropria ton
has heretofore been made for said i'm
provement,
Now. Therefore, BE 1T RESOLV-
. ED by the Board of Chosen Freehold
erS of the County of Atlantic, that
we do hereby appropriate the sum of
F'iftyfive Thousand Dollars ($55,0O0)
being the amount considered neceS-
sary to meet the cost of carrying out
the improvement aforesaid, including
the estimated cost of engineering and
of the compensa ton, salary and eX-
penseS of the engineering staff charge
able to this improvement. together
with the interest which will accrue on
the money necessary to finance the
i. same during the period of eonstruc-
ton and for six months thereafter,
and also the cost of issuing said bonds
wherewith to finance said improve
ment; and,
BE 1T FURTHER RESOLVED. that
the money for said appropriation here
; by authorized be raised by the issu-
mated Road Improvement Bonds" to
bear interest at the rate of four and
one-half per cent (41aT) per annum
payable semi annually; said bonds to
this Board. and be issued in pursu-
ance of Chapter 252 of the Laws OF
1916, and the various amendments
thereof and supplements thereto, and
in compliance with the requirements
of said Act this Board does hereby
determine and declare the following
matters:
A THE neriod of usefuIness Of tbe
inonrove,nant for which tha bonds arf
to be issued is five (5) years.
- r 7rbe average assessed val,iatjo,
of the taxable real property. includ-
ing improvements of the County oil
Atlantic computed upon the three
next preceding assessed valuations in
the manner provided by Section ~
Chapter 252 of the Laws of 1916, is
$345, 10, $4,000.
@ The NET debt of the Countv Of
Atlantic cornnuted in the nnanner nro.
vided in Section - Of the aforesai,
Act incmdinp The bonds anthorizef
nv his resolution 10 he iscncd Is IN,
SIM of e. oo1 S0s ee
..,., c..
u. ne stdteiiehts reduiISu ny oec
tion IL o. me aforesaid ACT nave peel
mace ana Iiiea as ~ saiu ACT feduireo
f.. The character of the road i'm
provement to be made for which sai'
bonds are to he issued is sand ant
gravel.
AND RE TT FURTHER RESOI WEI
nv the Board of Chosen Freeholders o
The County of Atlantic that said bond
he dated the first day of September
1927. that they he issued in denomi
I,ationS of Ono Thousand Dollars ISL
mo 0di each and hear interest at III
rate Of fonr and one-baIf per cent
lzihg1 ner ann,ln,. pavable semi.an
nualiv, and numbered from one N [,
fiftv.f,ve 155l inclusive. navable as fol
lows. N''' 80
~, a., at a., =
Eieven W pohus %, liie ''rse uay "a,
september OF eacn year; peSinaiil'
WIN i3@o. up ~ anu iIi ';1 l, ay'H' L
DE paid IN thelr humeflcal oroer'
That they be. signed by The Directo
of this Board, he being the chief pre-
siding officer, and by the Clerk of thi
Board land countersigned by the Coun
ty Treasurer. and be under the cor