General pow ers. Property ex upon such notice as the by-laws of said corporation shall prescribe. 5. And be it enacted, That a majority of said directors shall constitute a quorum for the transaction of business, and shall choose from among their own number a president of said board, and appoint a secretary and a treasurer, and such other officers as they may deem necessary; and shall have power to make by-laws for their own government, and for the management of the affairs of the said corporation; to fill all vacancies occurring in said board; to appoint and employ all necessary professors, teachers and other officers, and to fix their salaries; to establish, regulate and prescribe the course of studies to be taught and pursued in the said academy, and to fix the rates of tuition therefor; and to make all needful rules and regulations for the maintenance and proper conduct of said academy. 6. And be it enacted, That the property and effects of the empt from tax said corporation, held or used for the purposes contemplated by this act, to the amount or value of twenty thousand dollars, shall be exempt from taxation under the laws of this Directors shall receive state. 7. And be it enacted, That no director of the said corpono compensa- ration shall receive any compensation for his services as such tion. director. 8. And be it enacted, That this act shall take effect immediately. Approved February 15, 1870. When supplement shall take effect. CHAPTER LVII. A Further Supplement to an act entitled "An Act to incorporate the City of Cape Island," approved February twenty-eighth, eighteen hundred and fifty-one. 1 BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the act entitled "Supplement to an act entitled 'An Act to incorporate the City of Cape Island,' approved February twenty-eighth, eighteen hundred and fifty-one," approved March ninth, eighteen hundred and sixty-nine, shall be deemed and held to have taken effect on the second Tuesday of March, anno domini eighteen hundred and sixty nine, and the seventeenth section of the said act shall be and the same is hereby amended by striking out the word "next" after the word March in the said section. acts of author 2. And be it enacted, That all acts, matters and things Legalizing done and performed by the municipal authorities and officers ities and offiof the city of Cape May, and by the board of five commis- cers. sioners heretofore appointed by the mayor of said city under and in pursuance of the provisions of said act, approved the ninth day of March, anno domini eighteen hundred and sixtynine, be and the same are hereby ratified, confirmed and made valid. missioners to by justice of supreme court 3. And be it enacted, That in lieu of the five commissioners Board of comprovided to be appointed by the mayor of the city of Cape be appointed May, under said act approved the ninth day of March anno domini eighteen hundred and sixty-nine, the justice of the supreme court, whose duty it may be to preside over the cir cuit court of the county of Cape May, shall immediately after the passage of this act appoint a board of commissioners consisting of a president and four other persons, all of whom shall be the owners of real estate, and at least three of them shall be citizens and residents of the city of Cape May; the said board of commissioners, when so appointed, shall continue in office for two years from and after the first day of February, anno domini eighteen hundred and seventy, and Terms of of shall have and exercise all the powers and authorities conferred upon the said five commissioners, as provided in the said act approved March ninth, anno domini, eighteen hundred and sixty-nine, and also all the powers and authorities conferred by this act. fice. how filled, and 4. And be it enacted, That in case of vacancies in the said Vacancies, board of commissioners by death, resignation or otherwise, re-appointsuch vacancies shall be filled by the said justice of the supreme ments. court for the time being, who shall appoint persons to fill such vacancies from time to time as they may occur, on being notified in writing of such vacancy by the president or clerk of said board, and it shall be the duty of the said justice of the supreme court, for the time being, to appoint a board of commissioners consisting of a president and four other persons, as is hereinbefore provided for, to serve for two years Additional powers of ers. more when the term of office of those first appointed shall expire, and the appointments shall in like manner be made every two years while this act remains in force; the qualification of the appointees, and the powers, authorities and duties of the members of the said board, when and as they may be appointed from time to time, shall in all respects be the same as herein provided for. 5. And be it enacted, That the said board of commissioners commission shall have power in addition to the powers already conferred upon them, to order, direct and cause or procure any street or streets which they may from time to time lay out in the city of Cape May to be opened, and any street already laid out and opened to be extended or widened as the case may be, and to remove or set back all buildings, fences or obstructions on the said street; also from time to time to regulate, alter or change the curbing, paving and grading of the sidewalks and the grade or grades of any streets now opened, or of any streets that may be opened, extended or widened; also to keep the said streets cleaned, rolled and otherwise maintained in proper order, and during the summer season to have them rolled and watered as they may deem proper, and to lay out and construct all such sewers and drains as they may deem requisite for the proper sewerage and drainage of the city of Cape May, and in the execution and performance of the powers and authorities hereby conferred, as well as those conferred by the said act approved March ninth, eighteen hundred and sixty-nine, they shall have the power to make such contracts, and to employ such counsel, clerks, surveyors, engineers, agents, assistants and laborers as they may deem proper and necessary; they shall also have power to take and appropriate such land as they may deem requisite for the purpose of constructing and maintaining said sewers and drains, and of procuring gravel, clay, sand or other material for filling up and grading said streets. May settle with owners widening and extending streets. 6. And be it enacted, That the said commissioners shall also of lands taken have power to negotiate and settle with the owners of land for opening, which may be taken or appropriated by them for the purpose of opening, widening and extending streets, constructing sewers and drains, or of procuring gravel, clay or other material, and to take and receive from such owners grants and releases of such property for the uses and purposes above mentioned; and they shall have power from time to time to to purchase for and on behalf of the city of Cape May any land or lands which may be required, either in whole or in part, for any of the purposes above mentioned, and to take the conveyances thereof to the said city in fee, and again from time to time to rent or to sell the same and the buildings thereon, or such parts thereof as may not be required for public use, for such price or prices as they can obtain therefor; but no contracts for renting or selling shall be consummated until approved by the city councils of the said city of Cape May, and deeds for any lands so sold shall be made to the purchasers therefor under the seal of the said city. money and is 7. And be it enacted, That they shall also have power to May borrow borrow money for the purposes above mentioned, and to sue bonds. create and issue bonds, which shall be signed by the said commissioners in the name and on behalf of "The City of Cape May," bearing interest at the rate of seven per centum per annum, and in such form and payable at such time or times as they may deem advisable; provided, however, Proviso. that they shall not create or issue bonds for more than one hundred thousand dollars, and that they shall not issue more than twenty thousand dollars thereof during the first year, and ten thousand dollars thereof in any succeeding year; but if the amount provided to be issued in any one year shall not be expended during that year, it may be issued and expended in any subsequent year. seal to bonds. 8. And be it enacted, That it shall be the duty of the mayor Mayor to affix of "The City of Cape May" to affix the seal of said city to the said bonds, and to sign the same as mayor in attestation thereof, when requested so to do by the said commissioners; and further, it shall be the duty of the said mayor to see that the said bonds are registered, as is now practiced with reference to other bonds of said city, and that the registry thereof is properly preserved. ers may sell bonds. 9. And be it enacted, That the custody of the said bonds Commissionshall remain with the said commissioners until sold, and they shall have the power to sell the same from time to time, as money may be required by them, for the best price or rates which they can obtain therefor, and when, and as sold, the proceeds shall be paid over by them to the treasurer of the city, and shall be drawn out by the said commissioners for purposes above mentioned, and also for paying for such work and labor and materials as may not have been already Proceeds, how paid for, which have been done and furnished under con- applied. the Expenses of cleaning streets and sewers. Council to priations. tracts now being executed, upon warrants which shall be signed by the president, and attested by the clerk of the said board of commissioners, and no part of the money so paid to the said city treasurer shall at any time be used or applied to or for any other purpose, or paid out otherwise than upon the warrants drawn, signed and attested as above provided for; but the said bonds shall not in any case be sold at less than eighty-five per centum of their par or nominal value. 10. And be it enacted, That the expenses of cleaning, rolling, watering and keeping the streets and sewers and drains of said city in order, shall be paid by the city treasurer, out of the ordinary revenues of the said city, upon warrants drawn by the said commissioners, and signed by the president and attested by the clerk thereof; and it shall be make appro- the duty of the city councils of said city to make the necessary appropriations for paying the said expenses, upon being notified in writing by the president of the said board of commissioners, on or before the first day of April, anno domini eighteen hundred and seventy, and on or before the first day of April in each year thereafter, of the amount required by the said board of commissioners during the current year, for the purpose of paying the expenses above mentioned; it shall be the duty of said city councils to make the said appropriation within one month after being so notified. How the rate of taxation is to be fixed, 11. And be it enacted, That it shall be the duty of the said city councils in fixing or determining the rate of taxaand for what tion in and upon the assessable property in said city to assess purposes. Duties of city treasurer as to sinking fund. the same at such a rate as will raise adequate revenue for the purpose of paying all the ordinary current expenses of the said city and also for the purpose of paying the interest upon all bonds already issued and such as may hereafter be issued by the said city or by the said board of commissioners in the name or on behalf of said city, and also for the purpose of raising a sinking fund for the purchase of outstanding bonds of said city to an amount not less than two and one half per centum of the bonds outstanding at the date of the fixing of such rate of assessment or tax. 12. And be it enacted, That it shall be the duty of the city treasurer of said city to purchase bonds to an amount not less than two and a-half per centum of such as may be so outstanding at the date of such assessment in each year at the best rate at which he can obtain them, first advertis |