Supplemental Debt Statement-2564-19.pdf

Active State of New Jersey Department of Community Affairs Supplemental Debt Statement Local Government: West Orange Township Prepared As Of: 2/13/2019 Budget Year Ending December 31 (Month D-D) 2019 (Year) Name: John Gross Phone: Title: Email: jgross@westorange.org Address: 66 Main Street West Orange, New Jersey 07095 CFO Cert #: N-0451 John Gross, Being duly sworn, deposes and says: Deponent is the Chief Financial Officer of West Orange Township here and in the statement hereinafter mentioned called the local unit. The Supplemental Debt Statement annexed hereto and hereby made a part hereof is a true statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey. Decrease Increase Net Debt as per Annual Debt Statement (Since December 31, last past) Net Debt Bonds and Notes for School Purposes $0.00 $ $ $0.00 Bonds and Notes for Self- Liquidating Purposes $0.00 $ $ $0.00 Other Bonds and Notes $79,895,285.85 $ $ $79,895,285.85 2 Net Debt at the time of this statement is ……………………………………………………………………………………… $79,895,285.85 The amounts and purposes separately itemized of the obligations about to be authorized, and any deductions which may be made on account of each such item are: (see Note "C" below) Bond Ordinance Purposes Amount Deduction Net xxxx-19 Acquisition of Rock Spring Golf Course $12,050,340.00 $0.00 $12,050,340.00 $12,050,340.00 $0.00 $12,050,340.00 4 The net debt of the local unit determined by the addition of the net debt amounts stated in items 2 and 3 above is: $91,945,625.85 5 Equalized valuation basis (the average of the equalized valuations of real estate, including improvements and the assessed valuation of class II railroad property of the local unit for the last 3 preceding years) as stated in the Annual Debt Statement or the revision thereof last filed. Year (1) 2016 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,043,723,568.00 (2) 2017 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,215,620,287.00 (3) 2018 Equalized Valuation Real Property with Improvements plus assessed valuation of Class II RR Property $6,364,242,854.00 6 Equalized Valuation Basis – Average of (1), (2) and (3)………………………………………………… $6,207,862,236.33 7 Net Debt (Line 4 Above) expressed

nts plus assessed valuation of Class II RR Property $6,364,242,854.00 6 Equalized Valuation Basis – Average of (1), (2) and (3)………………………………………………… $6,207,862,236.33 7 Net Debt (Line 4 Above) expressed as a percentage of such equalized valuation basis (Line 6 above) is: 1.481% Notes A If authorization of bonds or notes is permitted by an exception to the debt limit, specify the particular paragraph of N.J.S.A. 40A:2-7 or other section of law providing such exception. B This form is also to be used in the bonding of separate (not Type I) school districts as required by N.J.S.A. 18A:24-16, and filed before the school district election. In such case pages 3 and 4 should be completed to set forth the computation supporting any deduction in line 3 above. C Only the account of bonds or notes about to be authorized should be entered. The amount of the "down payment" provided in the bond ordinance should not be included nor shown as a deduction.