The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-07-19

and the Board does hereby
provement al the sum Of. 49,. 5,0OO.O0
and also estimates the cost
of issuing the bonds to pay
for said Improvement to be
the sum OF -....-.....--.. l,Uou.uD
and estimates that the in
terest 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 ..s.....-.....4-. 3,uob.u5
making the total cost of said
improvement the. sum of .$l2u ,OD0.u u
and WHEREAS, no appropriation
has heretofore been made for said inn
NOW. THEREFORE. BE IT RE
SOLVED by the Board of Chosen
Freeholders OF the County of Atlantic
tHat we do hereby appropriate the
sum of One Hundred Twenty Thous-
and Dollars (Sl20. 100000 being the am
cunt considered necessary to meet The
cost of carrying out the improvement
aforesaid. including the estimated cost
of engineering and inspection fees and
a proper portion of the compensation.
salary and expenses of the engineer
ing staff chargeable to this improve
ment, together with the interest which
will accrue on the money necessary TO
finance the same during the period oil
construction and for six months there
after, and also the cost of issuing
said bonds whereWith to finance SAID
improvement, and
BE III FURTHER RESOLVED, that
| the money for said appropriation mere
by authorized be raised by the issuing
Of permanent bonds 70 be designated
Road Improvement Bonds, TO Dear
!, interest at the rate OF four ana ONE
| half per cent (41sas) per annum, pay
able semi-annuaily; said bonds to be
| executed by the proper officers OF inns
! BOARD. and be issued in pursuance OF
| Chapter 252 of the Laws Of 1916 and
| the various amendments thereof ana
| Supplements thereto. and IN conpn ,,
ance with the requirements OF salu
Act, this Board does hereby determine
| ard declare the following mawers.
A. The period of usefulness OF the
Improvement for which the bonds are
| to be issued is twenty GOD years.
b. The average assessed valuation
| of the taxable real property, including
| improvements of 4the County OF Atlan-
| tic computed upcil the three next pre-
| ceding assessed valuations in the man
ner provided by Section II, Chapter
252 of the Laws-sofr 1916, is S34o.ll5.-
| $500. :
| Atlantic computed in the manner pro-
yided in Section IL of the aforesaid
Act. including the bonds authorized
bby this resolution to- be issued. IS the
sum OF S5,036 ,505.66.
d. The statements REQUIRED oy sec
ton - OF the aforesaid Actshave been
madA and filed as in said Act required.
% The character of the road I'M
movement to be made. for which sald
bonds are to be issued IS three-lnch
sheet asphalt laid on a six-mch con-
crete foundation. and
BE TT FURTHER RESOLVED by
the Board of Chosen Freeholders OF
1.-The County of Atlantic that said bonds
fbe dated the first day OF september,
| 1927; that they be issued in denomina-
ton of One Thousand Dollars Sl.o00)
each and bear interest at the rate OF
four and one-half per cent tf.s%o) per
annum, payable semi Annually. ana
numbered from one "a to one hundred
and twenty O20) inclusive, payable as
follows:
Six bonds on the first day of Sep
TENDER of the years 1929 to 1871. both
inclusive. and seven bonds on the frst
day of September in,each of the years
1912 to 1947. both inclusive Bonds 10
be, maid IN their numerical order
That they be signed by the Director
OF thus BOARD, he being the chief pre-
siding officer, and by the Clerk oil this
Board, and countersigned ny me
County Treasurer. and be under inc
corporate. seal of this Board, and that
The coupons bear the facsimile sigma
t,rrc of the County Tree srr"r; mat
they be coupon bonds with the privi-
lege of registration as To principal only
on, upon surrender OF all the coupons
may be fully registered as to both
nrincipal and interest, and that they
be sold upon scaled proposals after
due advertisement according TO law.
and that no more bofds shall be sold
than will produce the sum equal to
one Hundred Twenty Thousand Dol
lars (sl2e Oh0OO) and an additional
sum ~ lees than One Thousand Dol
lars Isl 900. 00) That they recite that
they are issued pursuant to chapter
252 Of the Laws of 1916, and the war;
ious amendments thereof and supple
mtnts thereto, and that the proceeds
are TO be used to defray the cost OF
Reconstruction and paving of that sec
ton OF Ventnor Avenue known as Sec
zion 2. from n point midway between
Coolidge Avenue and 36th Avenue. IN
the line separating the CITY OF Mar
gate and the Borough of Longport ana
extending to the Longport Terminal OF
the bridge spanning Rislev's Channel
~ the Somers Point boulevard: that
they be sold under the direction or
Tie Finance Committee. in conjunction
with the County Solicitor and County
Traa surer. and they are hereby auth
orized to proceed as rapidly as nossi-
ble with the sale and delivery of said
bonds IN accordance with the statutes
of-this state, and the proper officers
III this Board he and they are hereby
authorized to execute the said bonds
OH behalf Of this Board, which bonds
are not 10 be fSHcqtedl or dssilves 2 IS
untIl otter the first day of september