2910-25 - 2025 Various Capital Improvements - West Orange (DOT Grant - No DP) (CDBG- down payments) (3_25)(95178364.1).pdf

#95178364.1 168182.012 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 March 25, 2025. 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 April 8, 2025 at 7:00 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 VARIOUS 2025 CAPITAL ACQUISITIONS AND IMPROVEMENTS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY, APPROPRIATING $12,835,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $9,387,109 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF Purpose(s): The bond ordinance provides for (i) improvements and repairs to various roads in the Township; (ii) improvements and repairs to Lando Parking Lot; (iii) purchase of signs striping and LED lights along Kelly Drive; (iv) improvements and repairs to Dogwood Drive at Boland Park; and (v) exterior improvements and building and grounds improvements along Rooney Circle. Please refer to the full bond ordinance for a more complete description of the improvements and purposes of the bond ordinance. Appropriation: $12,835,000 Bonds/Notes Authorized: $9,387,109 Down Payment: $181,000 Grants: $300,000 Community Development Block Grant; and $2,966,891 grants from Department of Transportation of the State of New Jersey Section 20 Costs: $1,000,000 Useful Life: 11.10 years KAREN J. CARNEVALE, Clerk of the Township of West Orange