2704-22 Bond Ordinance.pdf

TOWNSHIP OF WEST ORANGE COUNTY OF ESSEX, STATE OF NEW JERSEY BOND ORDINANCE NUMBER 2704-22 BOND ORDINANCE PROVIDING FOR VARIOUS 2022 CAPITAL IMPROVEMENTS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY, APPROPRIATING $9,448,104 THEREFOR AND AUTHORIZING THE ISSUANCE OF $8,998,191 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 $9,448,104, said amount being inclusive of a down payment in the amount of $449,913 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 Capital Improvement Fund for down payment or capital improvement purposes in a previously adopted budget or budgets of the Township. SECTION 2. For the financing of said improvements or purposes described in Section 3 hereof and to meet part of said $9,448,104 appropriation not provided for by said down payment referred to in Section 1 hereof, negotiable bonds of the