2953-26 Bond Ord. - Various Imp. to OSPAC - 1 Mil. DCA Grant -(2_10_26 Intro)(95856979.1).pdf

#95856979.1 168182.012 0TOWNSHIP OF WEST ORANGE COUNTY OF ESSEX, STATE OF NEW JERSEY ORDINANCE NUMBER 2953-26 BOND ORDINANCE PROVIDING FOR VARIOUS IMPROVEMENTS TO THE OSKAR SCHINDLER PERFORMING ARTS CENTER, BY AND IN THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY; APPROPRIATING $1,250,000 THEREFOR (INCLUDING A GRANT RECEIVED OR EXPECTED TO BE RECEIVED FROM THE NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS CORONAVIRUS STATE FISCAL RECOVERY FUND IN THE AMOUNT OF $1,000,000) AND AUTHORIZING THE ISSUANCE OF $238,000 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF BE IT ORDAINED AND ENACTED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS: SECTION 1. The improvements or purposes described in Section 3 of this bond ordinance are hereby authorized as general improvements or purposes to be undertaken by the Township of West Orange, in the County of Essex, State of New Jersey (the “Township”). For the said improvements or purposes stated in Section 3 hereof, there is hereby appropriated the sum of $1,250,000, which sum includes (i) a grant received or expected to be received from the New Jersey Department of Community Affairs Coronavirus State Fiscal Recovery Fund in the amount of $1,000,000 (the “Grant”) and (ii) a down payment in the amount of $12,000 now available for said improvements or purposes as required by the Local Bond Law of the State of New Jersey, as amended and supplemented (N.J.S.A. 40A:2-1 et seq.) (the “Local Bond Law”), by virtue of an