2475-16 Bond Ordinance 7378635 for various capital improvements.pdf

#2272000 v1 100181-33129 Improvements Appropriation and Estimated Cost Estimated Maximum Amount of Bonds or Notes Period of Usefulness network upgrades, information technology improvements, radio tower certification, replacement of mobile modems, CAD system upgrades, firewall upgrades and 9-1-1 system upgrades. v ) Various indoor facility improvements, including but not limited to miscellaneous indoor facilities improvements, improvements to Katz Community Center and Police Building, installation of a new roof at O’Connor Park Field House, including all work and materials necessary therefor or incidental thereto. 325,500 310,000 15 Years TOTAL $7,833,635 $7,027,266 (b) The estimated maximum amount of Bonds or Notes to be issued for the purpose of financing a portion of the cost of the Improvements is $7,027,266. (c) The estimated cost of the Improvements is $7,378,635 which amount represents the initial appropriation made by the Township. The excess of the appropriations made for each of the Improvements over the estimated maximum amount of Bonds or Notes authorized to be issued therefor is the amount of the Down Payment for each purpose. SECTION 4: All Bond Anticipation Notes issued hereunder shall mature at such times as may be determined by the chief financial officer of the Township (the “Chief Financial Officer”); provided that no Note shall mature later than one year from its date. The Notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer. The Chief Financial Officer shall determine all matters in connection with Notes issued pursuant to this ordinance, and the signature of the Chief Financial Officer upon the Notes shall be conclusive evidence as to all such determinations. All Notes issued hereunder may be renewed from time to time subject to the provisions of Section 8(a) of the Local Bond Law. The Chief Financial Officer is hereby authorized to sell part or all of the Notes from time to time at public or private sale and to deliver them to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their dates to the date of delivery thereof. The Chief Financial Officer is directed to report in writing to the Township Council of the Township at the meeting next succeeding the date when any sale or delivery of the Notes pursuant to this ordinance is

Financial Officer is directed to report in writing to the Township Council of the Township at the meeting next succeeding the date when any sale or delivery of the Notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the Notes sold, the price obtained and the name of the purchaser.