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Old 08-14-2014, 10:48 PM
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Ord. No. 1514-2014 - Veterans Field bonds

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 governing body of the Borough of Edgewater, in the County of Bergen, State of New Jersey, on August 11, 2014. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the held at the Municipal Offices, 55 River Road, Edgewater, New Jersey on September 15 , 2014 at 7 o'clock PM. During the week prior to and up to and including the date of such meeting copies of the full 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: ORDINANCE NO. 1514-2014
AN ORDINANCE OF THE BOROUGH OF EDGEWATER, IN THE COUNTY OF BERGEN, NEW JERSEY, AMENDING ORDINANCE NO. 1474-2012 OF THE BOROUGH FINALLY ADOPTED ON MAY 24, 2012, PROVIDING FOR VARIOUS IMPROVEMENTS TO VETERAN'S FIELD IN AND FOR THE BOROUGH OF EDGEWATER AND APPROPRIATING $13,700,000 THEREFOR, AND PROVIDING FOR THE ISSUANCE OF $13,015,000 IN BONDS OR NOTES OF THE BOROUGH OF EDGEWATER TO FINANCE THE SAME

Purpose:
To amend Prior Ordinance No. 1474-2012 of the Borough, by appropriating an additional $4,000,000, authorizing an additional $3,800,00 in Bonds or Notes and increasing the Section 2-20 costs by $100,000, for various improvements to Veteran's Field, including, but not limited to re-aligning the baseball and softball fields, reconstructing the little league field, constructing a new parking lot, playground area and picnic area, re-constructing a portion of the north parking lot area, constructing a Hudson River Waterfront Walkway and environmental remediation, and including all other work and materials necessary therefor and incidental thereto.

Appropriation: $13,700,000 (representing an increase of $4,000,000 from the Prior Ordinance)
Bonds/Notes Authorized: $ 13,015,000 (representing an increase of $3,800,000 from the Prior Ordinance)
Grants (if any) Appropriated: $ 0.00
Section 20 Costs: $ 650,000 (representing an increase of $100,000 from the Prior Ordinance)
Useful Life: 15 Years

Barbara Rae, RMC, CMC
Borough Clerk
August 14, 2014
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