2921-25 Bond Ord. - 2025 Various Capital Improvements - West Orange (95204632.1) (4.22.25).pdf

2 #95204632.1 168182.012 for by said Down Payments, negotiable bonds of the Township are hereby authorized to be issued in the aggregate principal amount not exceeding $605,600 pursuant to, and within the limitations prescribed by, the Local Bond Law. In anticipation of the issuance of said bonds and to temporarily finance said improvements or purposes, negotiable notes of the Township in an aggregate principal amount not exceeding $605,600 are hereby authorized to be issued pursuant to, and within the limitations prescribed by, said Local Bond Law. SECTION 3. (a) The improvements hereby authorized and purposes for the financing of which said obligations are to be issued include, but are not limited to, as follows: Description Appropriation Authorization Down Payment Useful Life (i) Improvements and repairs to the Lando Parking Lot, including, but not limited to, milling, paving, line painting, striping, signage, new curbs, base repair and driveway aprons; $ 425,000 $ 405,000 $ 20,000 10 years (ii) Purchase and installation of calming measures, including, but not limited to, signs, striping and LED high visibility lights along Kelly Drive; $ 75,000 $ 72,000 $ 3,000 7 years (iii) Improvements and repairs to Dogwood Drive at Boland Park including, but not limited to, milling, paving, line painting, striping, signage, new curbs, base repair, and driveway aprons; and $ 85,000 $ 81,000 $ 4,000 10 years (iv) Section 20 Expenses. $ 50,000 $ 47,600 $ 2,400 TOTALS: $ 635,000 $ 605,600 $ 29,400 (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,