2564-19 Bond Ordinance - Acquisition of Real Property - Rock Spring Country Club (2_19).pdf

#10423072.2(168182.001) TOWNSHIP COUNCIL OF THE TOWNSHIP OF WEST ORANGE IN THE COUNTY OF ESSEX, NEW JERSEY PUBLIC NOTICE NOTICE OF PENDING BOND ORDINANCE AND SUMMARY The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a regular meeting of the Township Council of the Township of West Orange, in the County of Essex, State of New Jersey, on February 19, 2019. It will be further considered for final passage, after public hearing thereon, at a meeting of the Township Council to be held at the Township Municipal Building, 66 Main Street, West Orange, New Jersey, on March 19, 2019 at 7:00 p.m. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Clerk’s office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows: Title: BOND ORDINANCE PROVIDING FOR THE ACQUISITION OF REAL PROPERTY COMMONLY KNOWN AS THE ROCK SPRING GOLF COURSE, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY; APPROPRIATING $12,050,340 THEREFOR AND AUTHORIZING THE ISSUANCE OF $12,050,340 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE THE COST THEREOF Purpose(s): Acquisition of and payment of the purchase price for real property consisting of approximately 137.92 acres located at 90 Rock Spring Road, such real property being designated as: Block 46.01, Lots 22 through 31; Block 160, Lots 2 and 10; and Block 160.01, Lots 30 and 34 on the Official Tax Map of the Township, commonly known as the Rock Spring Golf Course, including any structures, buildings, improvements, personal property, fixtures, easements, rights–of-way or other property rights currently located thereon. Appropriation: $12,050,340 Bonds/Notes Authorized: $12,050,340 Grants Appropriated: None Down Payment: None Section 20 Costs: $950,340 Useful Life: 40 years __________________________ KAREN J. CARNEVALE, Clerk of the Township of West Orange