2915-25 Bond Ord.-2025 Various Roadway Improvements - West Orange (DOT Grant - No DP) (CDBG- down payments)(3_25)-(95204340.1).pdf

#95204340.1 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 April 8, 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 22, 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 ROADWAY IMPROVEMENTS, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY, APPROPRIATING $10,030,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $6,714,669 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF Purpose(s): The bond ordinance provides for improvements and repairs to entire lengths or portions of various roads in the Township including, but not limited to, Franklin Avenue (from Main Street to Chestnut Street), Oxford Place (from Cherry Street to Chestnut Street), Walker Road, South Valley Road, Rooney Circle, Morris Road, Sussex Road, Hunterdon Road, South Valley Road, Union Street, Nassau Street (from South Valley Road to Township limits), Wheatland Avenue, Helen Avenue, Lawrence Avenue, Florence Place, and Lowell Avenue. Please refer to the full bond ordinance for a more complete description of the improvements and purposes of the bond ordinance. Appropriation: $10,030,000 Bonds/Notes Authorized: $6,714,669 Down Payment: $48,440 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: $780,000 Useful Life: 10 years KAREN J. CARNEVALE, Clerk of the Township of West Orange