2872-24 Bond. Ord. - Road Sewer Improvements - West Orange 7.2024 (14581359.1).pdf

2 #14581359.1 168182.010 to, and within the limitations prescribed by, the Local Bond Law. In anticipation of the issuance of said bonds and to temporarily finance said improvements or purposes, negotiable notes of the Township in the principal amount not exceeding $1,904,000 are hereby authorized to be issued pursuant to, and within the limitations prescribed by, said Local Bond Law. SECTION 3. (a) The improvements hereby authorized and purposes for the financing of which said obligations are to be issued are for road, sidewalk and sewer improvements and repairs throughout the Township, including but not limited to, Valley Road (from Kingsley Street to Northfield Avenue), Carlson Road, and Colonial Woods Drive. Such improvements or purposes include, but are not limited to, as applicable, demolition and excavation, milling, paving, resurfacing and reconstruction of the roadway, roadway painting and striping, the repairing and/or removal and installation of sidewalks, driveway aprons, curbing, retaining walls and curb ramps, guardrails, road shoulders, gutters, storm drains, and concrete improvements, and all other related improvements, design work, preparation of plans and specifications, permits, bid documents, contract administration, work, materials, equipment, accessories, labor and appurtenances necessary therefor or incidental thereto. (b) The estimated maximum amount of bonds or notes to be issued for said improvements or purposes is $1,904,000. (c) The estimated cost of said improvements or purposes is $2,000,000, the excess amount thereof over the said estimated maximum amount of bonds or notes to be issued therefor is the amount of $96,000 appropriated for the down payment for said improvements or purposes.