2886-24 Bond Ord. Various Capital Improvements- DOT Grant 2024 (11-25-24) (14778613.1).pdf

#14778613.1 Description Appropriation Authorization Down Payment Useful Life purchase of senior and jitney buses; (xxvii)Playground improvements at Colgate, O’Connor and Jenkins kiddie parks; and $ 1,225,000 $ 1,166,200 $ 58,800 15 years (xxviii)Section 20 Expenses. $ 225,000 $ 214,000 $ 11,000 TOTALS: $13,802,000 $11,584,343 $ 499,750 (b) The improvements and purposes set forth in Section 3(a) above shall also include, as applicable, all engineering and design work, surveying, construction management services, construction planning, preparation of plans and specifications, permits, bid documents, construction inspection and contract administration, environmental testing and remediation, and all work, materials, equipment, labor and appurtenances necessary therefor or incidental thereto. (c) The estimated maximum amount of bonds or notes to be issued by the Township for said improvements and purposes is $11,584,343. (d) The estimated cost of said improvements and purposes to the Township is $13,802,000, the excess amount thereof over the estimated maximum amount of bonds or notes to be issued therefor are the Down Payments in the amount of $499,750 now available for said improvements and purposes from the Township’s Capital Improvement Fund and the Grants. SECTION 4. Except for the Grants, in the event the United States of America, the State of New Jersey, and/or the County of Essex make a contribution or grant in aid to the Township for the improvements and purposes authorized hereby and the same shall be received by the Township prior to the issuance of the bonds or notes authorized in Section 2 hereof, then the amount of such bonds or notes to be issued shall be reduced by