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

#14581359.1 168182.010 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 meeting of the Township Council of the Township of West Orange, in the County of Essex, State of New Jersey (the “Township”) on August 6, 2024. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body of the Township to be held at the Township Municipal Building, 66 Main Street, West Orange, New Jersey, in said County, on September 10, 2024 at 6:30 p.m. During the week prior to and up to and including the date of such meeting, copies of the full bond 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 ROAD, SIDEWALK AND SEWER IMPROVEMENTS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY; APPROPRIATING $2,000,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $1,904,000 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COSTS THEREOF Purpose(s): The bond ordinance provides 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. Please refer to the full text of the bond ordinance for a more complete description of the improvements and purposes of the bond ordinance. Appropriation: $2,000,000 Bonds/Notes Authorized: $1,904,000 Down Payment: $96,000 Section 20 Costs: $200,000 Useful Life: 10 years KAREN J. CARNEVALE, Clerk of the Township of West Orange