state treasurer shall be ex-officio treasurer of such fund; such board of trustees shall have charge of and administer said fund as they shall deem most beneficial to such fund and to the beneficiaries thereof, and order payments therefrom according to the provisions of this act; they shall report annually to the legislature the condition of such fund, and the receipts and disbursements on account of the same, with a full and complete list of the beneficiaries of said fund and the amounts paid to each of them. Board of trustees to have charge of fund, etc. When teachers may be retired and annuity 3. Whenever any teacher entitled to the benefits of this act has taught in the public schools of this state for period of twenty (20) years, and shall become incapacitated from performing the duties of a teacher, such teacher shall, at his or her request, or may, at the discretion of the board of trustees of the teachers' retirement fund, without such request, be retired as a teacher, and shall thereafter receive an annuity out of said fund of a sum equal to one-half of the average annual salary received for the five (5) years immediately preceding the time of retirement; provided, that no annuity granted Proviso. under this act shall be less than two hundred and fifty (250) dollars or more than six hundred (600) dollars, but in case any teacher should be retired within five (5) years after the passage of this act, he or she must, in order to receive the benefits thereof, pay into the fund provided for in this act a sum equal to twenty per centum of his or her annual salary at time of retirement; and provided further, that if at any time there shall not Proviso. be sufficient money in said fund to pay the warrants drawn thereon as presented for payment, the treasurer shall register said warrants, and mark on the back of each these words: "Presented for payment this (giving day, month and year), and not paid for want of funds. Treasurer of state of New Jersey ;" and such warrants shall be paid in the order of registration and bear interest at five per centum per annum from date of registration. 4. Any teacher that shall have been a contributing member for five (5) years or more, who shall resign, or be otherwise honorably retired, shall, upon application within three (3) months after date of such retirement, 59-3 A99-477 59--3 71L-64 Who entitled to of amount paid receive one-half into the fund. 59-4 A99-478 60-5 A99-478 Retirement fund, One'per centum treasurer. Moneys received All others. Powers of board. Act binding Form of notice be entitled to and shall receive one-half of the total amount paid by him or her into said funds. 5. The public school teachers' retirement fund herein provided shall consist of the following, with the income and interest thereof: (1.) The board of education of each municipality and the board of trustees in every school district or township outside of such municipalities, on the expiration of one month after the time when this act shall take effect, shall reserve monthly and pay over to the state treasurer one per centum of the salaries or annuities paid each month to the teachers who shall, prior to such date, elect to come under the provisions of this act; (2.) All moneys and property received by donation, legacy, gift, bequest or otherwise, for or on account of said fund; (3.) All other methods of increment as may be duly and legally devised for the increase of said fund. 6. In addition to the powers herein before granted to said board, it shall have the further power, first, to subpœna and compel witnesses to attend and testify before it in all matters relating to the operations of this act, and any member of said board may administer an oath or affirmation to such witness, in the form prescribed in courts of justice; second, to provide for the payment out of said fund of all needful expenses, but the members of said board, as such, shall serve without compensation. 7. This act shall be binding only upon public school teachers who, after the passage of this act, shall sign and deliver to the board of education of the municipality, district or township in which they are employed, a notice in substantially the following form: 1895. To the board of education (or trustees, as the case may be) of : You are hereby notified that I agree to be bound by, and desire to avail myself of, the provisions of the act of the legislature of New Jersey, approved -, eighteen hundred and ninety entitled "An act to amend an act entitled 'An act to establish a system of public instruction in state of New Jersey.' Public School Teacher. Notice to be months after to entitle to given three passage of act benefits. And no teacher employed in the public schools of this state at the time of the passage of this act, failing to give such notice within three months, shall be entitled to any benefits under this act or subject to any of its burdens; and no teacher employed after the passage of this act, who, within one year after such employment, fails to give such notice, shall share the benefits of or be subject to the burdens of this act; such notices shall be delivered to the local board of education, and, Notices; to at the same time, a duplicate copy of the same shall be sent to the board of trustees of teachers' retirement fund, and preserved as a record for their information. whom delivered. 8. All acts or parts of acts inconsistent with the pro- Repealer. visions of this act be and the same are hereby repealed, and this act shall take effect immediately. Passed March 11, 1896. CHAPTER 33. An Act relative to the purchase of lands for school purposes and the erection of school buildings thereon in townships of this state containing more than fifteen thousand inhabitants. authorized to erect school 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That in townships of this state Boards of now or hereafter having a population exceeding fifteen Education thousand inhabitants, as shown by any census taken purchase land, under the authority of any act of congress, or of any buildings and law of this state, the board of education of such township shall have authority to purchase all necessary land for school purposes and erect all necessary school buildings thereon, and to authorize the issuance of bonds pledging the property of the whole township for the issue bonds. 61-1 Proviso. payment thereof and to provide for the payment of the Proceedings not invalidated for failure to comply with provisions relating to improvements. CHAPTER 34. A Supplement to an act entitled "An act respecting the opening, widening, extending or otherwise improving of streets, avenues and public highways in cities of the first class in this state, and providing for the payment of the same; and further providing that the assessments upon property for special benefits. shall be payable in full or in installments, at the option of the property owner," approved March twenty-second, one thousand eight hundred and ninety-five. BE IT ENACTED by the Senate and General Assembly of the Sate of New Jersey: 1. In any city of the first class of this state in which the board or body having control of the streets and highways in any such city have proceeded upon the ap plication of an owner or owners of property to cause to be opened, widened, extended or otherwise improved any streets, avenue or public highway in such city under the provisions of the act to which this is a supplement, and said board has awarded contracts for the doing of the work of any said improvement or improvements, and has caused to be prepared and filed preliminary maps and reports showing the probable benefits and probable amount to be assessed upon the property specially benefited thereby, and have previously thereto caused to be published in the official newspapers of such city a notice to parties interested in said proposed opening, widening, extension and establishing of grade of any street and any improvement, of the time and place for hearing objections thereto, and have described in said notice the location and character of the opening, widening, extension and establishing of grade of any street and the proposed improvement, real estate to be taken or damaged and the easements to be acquired and the property to be assessed therefor, and such hearing has been held sooner than two weeks from the date of first publication of said notice, although section four (4) of the act to which this is a supplement provides that "such hearing shall not be held sooner than two weeks from the date of first publication of said notice"; such failure to comply with the provisions of the act to which this is a supplement shall in no way invalidate the proceedings taken by said board or body respecting any said improvement or improvements; and that the assess- Assessments ments on property benefited by said improvement or improvements shall be in all respects valid and legal as though the said notice had been given in conformity with the provisions of the said act to which this is a supplement. 2. This act shall take effect immediately. Approved March 11, 1896. valid and legal. |