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ORDINANCE 1952-14ORDINANCE #14 ORDINANCE PROVIDING FOR THE CONSTRUCTION OF COMBINATION CURBS.AND GUTTERS IN A PORTIOONN THE PARK DRIVE IN THE TOWNSHIP OF DELAWARE' IN COUNTY OF CAMDEN, NEW JERSEY, ORDERING SPECIAL ASSESSMENT OF THE AND CO THEREOF ISSUANCE $5,000 THEREFOR, 600 BONDS FOR THE FINANCING TOWNSHIP.S� OF $4, OR NOTES OF THE 279 THE BOARD OF COMMISSIONERS OF THE TOWNSHIP O DELAWARE, THE COUNTY OF CAMDEN, (not less than two - thirds of all affirmatively concurring) DO ORDAIN AS FOLLOWS: Section 1. The improvements described in Section 3 of this to be made or ac- ordinance is hereby authorized as a local im p rovem of t Camden, New Jersey, quired by the Township of Delaware, in the County n 3, there stated in said Sectio and for the said improvement or purpose 000 inclusive of the sum of $400 is hereby appropriated the sum orovement'or purpose required by law of as the down payment for said imp of provision in a budget or budgets now available therefor by the Township previously adopted. ement or:-:purpose shall be financed, and Section 2. the proceeds o said $5,000 appropriation shall be met) Said improv from f the $4:600 00 , from the said bonds or notes hereinbelow authorized, and the financing of said improvement $400 down Payment hereinabove appropriated therefor. of said appropriation not met by said ent or purpose and to meet the p each to be known as "Street payment, negotiable bonds of the Tae shereby authorized to be issued in Assessment Bonds, t t Series B, 195 oun f the Rev t of $4,600 pursuano td Statutesoof New Law, the princ am tIn- ing sections 40:1 -1 to ce of said 40 :1-�� o f notes of the Town the issuand bonds' 600 are hereby authorized to anticipation 40 d ribed by said law. ship in a principal amount within th xelimitations lresc i ations shall bear is be issued pursuant to and of said ob g The maximum rate of i which any six per centum (6%) per annume authorized and the pur- The improvement hereby Section 3• (a) ations are to be issued, is the pose for the financing of which said obligations curbs and gutters on the east - k Drive between Camden County Park Boulevard and Cooper improvement of Par Park Blvd., on the of Avenue by construcfromm therein C o u er Y Ave to 100 feet north erly sid de from about 100 feet s e thereof from P westerly side from from Sheridan within o Ave. to linden uth of and on the westerly all of Wesley Ave. nt Park. Blvd. along the curb lines and Cou Y re ared by John H. Osler, P.E. & L.S., in accordance with plans s therefor I p C now on file in the office lerk and hereby approved. of the Township f bonds or notes to be (b) The estimated max imum amount o issued for said purpose is $4, The estimated maximum amour exce in ss such amount f amountover (c) 000 th said purpose from all sources is $5, ' is ordinance. li ized Section 2 of this ordinance being the amount of o bligations ations author down payment referred to in Section 2 of t determined, de- Section 4• The following matters are hereby clared, recited and stated: said purpose described in Secti on ot P eY ° ,t curr ytwhichordinance the (a) The rovement P current, expense and is anP improvement. is not a lawfully make or acquire as a local Township may ose within the limi- Th period of usefulness Of said and according to the tations o f sections 40:1 -34 to 4 0 _•1 reasonable life thereof, is ten (10) years. (c) The supplemental debt statement required by said Law has been duly made and filed in thec been filedoinsthe officeof a complete executed Original thereof has e of New the Director of the Division of Local theegro sstdebttof thetTownship Jersey, and such statement shows as defined in section 40:1-76 of said thewsaidlobligations authorized nance by $4,600, and the issuan ce of he exception contained in subsec- by this ordinance is permitted by tion (d) of section 40 :1 -16 of said Law to the debt limitations pre- scribed by said Law. (d) The following items, as defined and authorized partyof section 40:1 -55 of said Law, are and shall be charge ce said obli- the cost of said purpose to be fioanaccount of engineering and inspec- gations: (1) not exceeding $475 o (2) not exceeding X150 on account tion costs and legal expenses, of the cost of issuance of said obligations. provided in Section 5 of this ordinance, Except as p e to payment of nothing will be contributed by the Townp at large (e) shi the c st of said improvement, prop the e iy d b en efited f by the said h o erty spec ount of assessments to be levidd on p P im rovement is X5,000, being the t'Otentefromaall sources less the money to be raised for said therTownship at large* amount to be contributed by p roperty specially bene f) The stated number of annual i in whit may ( special assessments to be be paid the sp fited b the improvement described in Section 3 of this ordinance s ten (10�. Section 5• The cost of said local improvement, to the extent r o riation hereby made therefor, shall be paid of the amount of the app P specially benefited be in pro Portion to the peculiar benefits ad by special asearsasnmaytb be levied ti p roperty s ective land or parcels of thereby, as n reason vantage or increase in value which the re of said im- o case shall parcel of land land or real estate shall bealleany a ssessment on any P ease in value' pro vement, and in n , e or increase in amount such peculiar benefit ual the cost, the balance shall g exceed assessed shall not equ� the and if benefits so be paid by assessment o wner of any The o land upon which any Section 6• shall have been made may pay such assess - for said local improvem annual installments ent of equal lance thehassessment.detThe e , ment in the number balance thirty days after he unpaid with legal interest on the and each subseg ea u first of said in stallmen thereaf er, ts�sha11 be due an payable s the confirmation of the assess able in each successive Y ment and interest seer of land so assessend Sb n ce v t of o f paying the whole of any provided that any O assessment or y i n case any su which accrued interest h install a id for thirty day and after the time it thereon at one time; ssment or balance thereof went shall remain unpaid the whole asse shall become due and payable due. and Payable and shall draw interest shall become an d be immediately rearageS of taxes in the Township and at the rate impose P law for other past assessment shall remain a lien upon the lan due assessme shall be collected in the same manner ae. pro�ide Y nts; such asse an any described the until the id and satisfied.t d Notwithstandtogwai e interest thereon shall thepTownship shall have such right hereiittas the mayc ontrarl bePe�itted by law- defau All such assessments oately placed in l ocal account sha Section ? ll be immed improvement when collected, tt Improvement Assessment Account of the Township to be known as Local No. 5• 281 Section 8. The full faith and credit of the Township are hereby pledged to the punctual payment of the principal of and interest on said obligations. Said obligations shall be direct, unlimited obli- gations of the Township and the Township shall be obligated to levy ad valorem taxes upon all the taxable property within the Township for the payment of the obligations and interest thereon, without limitation of rate or amount. Section 9• This ordinan�e passage effect provided by the first publication thereof aft Adopted: oar o omm ssioners Sf erx. Introduced April 2 1952 Adopted: Ray 12, 1952 4