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 BOND ORDINANCE ADOPTION AND SUMMARY The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Township Council of the Township of West Orange, in the County of Essex, State of New Jersey (the “Township”) on October 8, 2024 and the twenty (20) day period of limitation within which a suit, action or proceeding questioning the validity of such bond ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement. Copies of the full bond ordinance are available at no cost and during regular business hours at the Clerk’s office for members of the general public who 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