2690-22 Bond Ord. Providing for Capital Improvements and Equipment Acq. - 4,500,000 - Signature.pdf

TOWNSHIP OF WEST ORANGE COUNTY OF ESSEX, STATE OF NEW JERSEY BOND ORDINANCE NUMBER 2690-22 BOND ORDINANCE PROVIDING FOR CAPITAL IMPROVEMENTS AND EQUIPMENT ACQUISITIONS FOR VARIOUS PARKS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (THE “TOWNSHIP”); APPROPRIATING $4,500,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $4,285,714 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF BE IT ORDAINED AND ENACTED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (not less than two-thirds of all the members thereof affirmatively concurring), AS FOLLOWS: SECTION 1. The improvements or purposes described in Section 3 of this bond ordinance are hereby authorized as general improvements to be undertaken by the Township of West Orange, in the County of Essex, State of New Jersey (the “Township”). For the said improvements or purposes stated in Section 3 hereof, there is hereby appropriated the amount of $4,500,000, said amount being inclusive of a down payment in the amount of $214,286 now available for said improvements or purposes as required by the Local Bond Law of the State of New Jersey, as amended and supplemented (N.J.S.A. §40A:2-1 et seq.) (the “Local Bond Law”), by virtue of an appropriation from the Township’s Open Space Trust Fund created pursuant to N.J.S.A. 40:12-15.1 et seq. (the “Open Space Trust Fund”). SECTION 2. For the financing of said improvements or purposes described in Section 3 hereof and to meet part of said $4,500,000 appropriation not provided for by said down payment referred to in Section 1 hereof, negotiable bonds of the