Conference/Public Meeting Agendas/Documents — Packet

with the plans and specifications on file with the Township Clerk and hereby approved. (b) The estimated maximum amount of Bonds or Notes to be issued for the purpose of financing a portion of the cost of the Improvements is $3,684,305. (c) The estimated cost of the Improvements is $4,184,305 which amount represents the initial appropriation made by the Township. SECTION 4. All Bond Anticipation Notes issued hereunder shall mature at such times as may be determined by the Chief Financial Officer of the Township (the “Chief Financial Officer”); provided that no Note shall mature later than one year from its date. The Notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer. The Chief Financial Officer shall determined all matters in connection with Notes issued pursuant to this ordinance, and the signature of the Chief Financial Officer upon the Notes shall be conclusive evidence as to all such determinations. All Notes issued hereunder may be renewed from time to time subject to the provisions of Section 8(a) of the Local Bond Law. The Chief Financial Officer is hereby authorized to sell part or all of the Notes from time to time at public or private sale and to deliver them to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their dates to the date of delivery thereof. The Chief Financial Officer is directed to report in writing to the Township Council of the Township at the meeting next succeeding the date when any sale or delivery of the Notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the Notes sold, the price obtained and the name of the purchaser. SECTION 5: The capital budget of the Township is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith. The resolution in the form promulgated by the Local Finance Board showing full detail of the amended capital budget and capital programs as approved by the Director, Division of Local Government Services, Department of Community Affairs, State of New Jersey is on file with the Township Clerk and is available for public inspection. SECTION 6: Notice is hereby given to the owners of all

Department of Community Affairs, State of New Jersey is on file with the Township Clerk and is available for public inspection. SECTION 6: Notice is hereby given to the owners of all lands and parcels of real estate benefited by the improvements described in Section 3(a) hereof and affected by the improvements described therein, that the Township intends to make and levy special assessments against all such lots and parcels of real estate in an aggregate amount not exceeding $3,684,305. Such special assessments shall be made and levied in the manner provided by law and shall be as nearly as possible in proportion to and not in excess of the peculiar benefit, advantage or increase in value that the respective lots and parcels of real estate shall be deemed to receive by reason of the improvement. It is expected that the Township will contribute $0 to the cost of the improvement; however, if the amount of the special assessments as finally confirmed is less than the sum of $3,684,305, as described in Section 3(a) hereof, then the Township will also contribute the difference to the cost of the improvement.