2536-18 Bond Ord. 1.9.18.pdf

2536-18 TOWNSHIP OF WEST ORANGE BOND ORDINANCE STATEMENT AND SUMMARY The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Township of West Orange, in the County of Essex, State of New Jersey on January 23, 2018 and the 20-day period of limitation within which a suit, action or proceeding questioning the validity of such bond ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement. Copies of the full bond ordinance are available at no cost and during regular business hours, at the Clerk's office for members of the general public who request the same. The summary of the terms of such bond ordinance follows: Title: BOND ORDINANCE PROVIDING FOR GREEN ACRES MULTI-PARK DEVELOPMENT PROJECT IN AND BY THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, NEW JERSEY, APPROPRIATING $143,575 THEREFOR AND AUTHORIZING THE ISSUANCE OF $136,575 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF Purpose(s): Green Acres Multi-Park Development Project, consisting of improvements at Degnan Park and Lafayette Park, including field improvements, fixtures and related work and costs necessary therefor or incidental thereto Appropriation: $143,575 Bonds/Notes Authorized: $136,575 Grants (if any) Appropriated: $45,525 appropriated from grant fund Section 20 Costs: $37,820 Useful Life: 15 years Karen J. Carnevale, R.M.C., Clerk