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 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 April 8, 2025 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 VARIOUS 2024 CAPITAL ACQUISITIONS AND IMPROVEMENTS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY, APPROPRIATING $13,802,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $11,584,343 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 $2,266,891 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