The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-04-12
ORDINANCE No. s27

AN ORDINANCE appropriating the
sum of s35,000.0D for the purpose of
purchasing land upon which to erect
high school building in the City of
Pleasantville. and providing for tenn
Dorarily financing the said under
taking.
Whereas. the Board of Education
and the Board Of School Estimate of
the City School District OF the City of
Pleasantvile have. h. appropriate gro
ceedirgs fixed and estimated the sim
of Thirty-five Thousand ts25,000.00)
Boilers, as the amount necessary to
pay the cost Of the pirchasa Of laid
upon which it is proposed TO erect a
high school building in the City of
Pleasantvijle and certificate of The
Board of School Estimate to that eff
feet has been luiy maze ana 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
it ordained by the Common Council OF
the City of Pleasantvillc:
Section l. That the sum of Thirty
five Thousand (S35. 00000) Dollars. be
and the same is hereby appropriated
for 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 q tract three
hundred feet fronting on Franklin
Boulevard BY a depth of two hundred
fifty feet, extending at right angles
Boulevard. Madison Avenue, Chester
Avenue and Ansley Boulevard, as
shown upon map of Ansley Park,
Pleasantville. New Jersey, being the
development of the Seaboard Develop
ment Corporation OF 1916 Atlantic Ave-
tract is TO be purchased for the sum
of thirty-five thousand (s35,000.0D
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
issued temporary loan bonds, which
City of Pleasantville in the principal
amount not exceeding Thirty five
Thousand (s35,000.00) Dollars, bearing
interest at a rate not exceeding six
per centum per annum. Such tempo
rary loan bonds shall be issued in
lection of taxes or of the authorization
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, attcsted 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
ed, however, that said bonds shall ma
ture in not less than one year from
their date and may be issued in one
iustallment, 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 amy
renewals thereof, outstanding at any
one time, shall not exceed the prin-
cipal sum of Thirty-five Thousand
(s35. 000.00) Dollars.
Section 8. That this ordinance shall
take effect Immediately after final pas
sage and publication.
Passed third and final reading
after hearing at a regular meet
ing of the Common Council of the
City of Pleasantville, N. j., held
in Council Chambers. City Hall, on
Monday evening, April 4. 1927.
GEORGE r. ENGLEHAItDT,
President Common Council.
Approved April 5, 1927.
CHARLES L. JACKSON.
Mayor.
st-NEHEMIAH ANDREWS,
Cifv Clark