The Pleasantville press. (Pleasantville, N.J.) 1912-1929, 1927-07-08
NoRrHFlELp ORDINANCE

AN ORDINANCE providing for the
issuance of permanent School Bonds
in the sum of Ninety Thousand Dol
lars (s90.000D and appropriating the
money arising therefrom for the
purpose of building an addition to
the Mill Road School House. located
at Mill and New Roads, Mortified.
New Jersey.
WHEREAS. the Board of Education
of the City of Mortified New
Jersey, has decided that it is
Necessary to raise nd money no,, the
$4,000, for the purpose of building
an addition to the Mill Road School
House. located at Mill and New Roads
Mortified. New Jersey. and has pre-
pared and delivered TO each member
of the Board of School Estimate Of
Mortified certificate of the amount
of money estimated for such purposes.
and,
WHEREAS, the Board of School
Estimate has fixed and determined
that the sum of Ninety Thousand
Dollars $3.50. 000) is necessary to be
raised wherewith to buiid an addition
to the Mill Road School House, locat-
ed at Mill and New Roads, Mortified,
New Jersey. as set forth in the GER
tificate of the Board of Education of
said City, and has made two certifi-
Gates of such estimate. one of which
certificates has been delivered to the
Board of Education and the other to
the Common Council of said City; and
WHEREAS. the Common Council Of
the City of Mortified concurs therein
and consents thereto,
Now, Therefore, Be 1t Ordained by
the Common Council of the City of
Mortified:
Section /. That we do hereby APP
propriate the sum of Ninety Thousand
fnr~ he faf
building an addition to the Mill Road
School House, located at Mill and New
Roads, Mortified. New Jersey.
Section g To provide the necessary
funds for such purposes. and Tor which
the said appropriation herein mem
toned is made. there shall be issued
nv the City of Mortified under its
corporate seal. signed by its Mayor.
attested by the City Clerk and coun-
tersigned by the City Treasurer, bonds
of the City of Mortified in an amount
not exceeding Ninety Thousand lS9u, :
000) Dollars. Said bonds shall be OF
the denomination of One Thousand
Isl, 00O) Dollars each, and numbered
from one "a to ninety 800 both in
elusive, designated school Bonds. :"
bearing date the first day of August.
1928, and be payable as follows, in the
order OF their serial number, at the
rate of:
Three go bonds per annum aggre-
eating Three Thousand (s3.000) Dol
lars, beginning with the year 1928, to
and including the year 1857.
They shall be coupon bonds bearing
interest at the rate not exceeding six
per eentum $50 per annum, payable
semi annually and shall be designated
..School Bonds Interest coupons
shall bear the fac smile signature OF
the City Treasurer. They, may be
registered as to principal only. or up
on surrender of all of the coupons,
may be fully registered as 10 both
principal and interest The Common
Council of the City of Mortified shall
appropriate and provide by taxation
in the annual tax levy of said City
such sum as may be necessary to pay
the interest on said bonds and TO re-
deem them as they shall Severally be-
come due and payable, and the credit
and faith of the City of Mortified
and the inhabitants thereof shall be
said bonds and interest thereon as the
same shall become due and payable
Said bonds shall be sold after due
advertisement as provided by law for
not less than par value and accrued
interest All other matters in respect
to the issuance. sale and delivery of
said Permanent Bonds shall be fixed
by subsequent resolutions of the Com
mon Council OF the City of Mortified.
provided. however. that all OF the said
DOfuS Sftdt UidlQft anu bt pstiQ Nililili
thirty $500 years from their date.
Section 3. That the proceeds realiz-
ed from the sale of such bonds shall
be paid to the custodian of school
moneys of the City of Mortified. who
shall in no event, disburse the same,
except to pay the expenses of issuing
and selling the same and for the pur-
poses for which said bonds are issued.
Section 4. This Ordinance shall be-
come operative when and as provided
by law. after the publication hereof
and its final passage.
introduced and passed first reading
at regular meeting of the Common
Council of the City of Mortified held
in Common Council chambers, City
Hail. Tuesday. July 5th. 1927, and
will be considered for final reading
after a public hearing at a regular
meeting of the Mortified Common
Council to be held in Common Council
Chambers, City Hall, Monday even
ing. July IS, 1927. at O'Clock. day
light saving time, at which time the
public win be given an opportunity TO
be heard.
GEORGE H. MULLER.
City Clerk.
Dated. Mortified n j., July 5, 1927.