Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Preliminary/Official Statement and Disclosure Agreement for Issuance of Notes
Purpose: Approving official statement and disclosure agreement for sale
of bond anticipation notes and special emergency notes
Amount to be Financed: $22,813,000.00 (Twenty-Two Million Eight Hundred Thirteen Thousand Dollars and Zero Cents)
Project Information:
(Description/ Project No./Amount Appropriated/Ordinance No.)
RESOLUTION DETERMINING CERTAIN MATTERS IN CONNECTION WITH THE SALE OF AGGREGATE PRINCIPAL AMOUNT OF TAX APPEAL REFUNDING NOTES AND GENERAL IMPROVEMENT BOND ANTICIPATION NOTES NOT TO EXCEED $22,813,000.00 (TWENTY-TWO MILLION EIGHT HUNDRED THIRTEEN THOUSAND DOLLARS AND ZERO CENTS), OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY
Additional Information:
body
WHEREAS, the Municipal Council of the City of Newark, in the County of Essex, New Jersey (the "City"), has previously adopted the following ordinances which authorized the issuance of tax appeal refunding notes of the City: Ordinance 6PSF-d adopted by the Municipal Council of the City on November 22, 2011 (the "2011 Ordinance"); Ordinance 6PSF-e adopted by the Municipal Council of the City on October 15, 2014 (the "2014 Ordinance"); Ordinance 6PSF-d adopted by the Municipal Council of the City on October 21, 2015 (the "2015 Ordinance"); and Ordinance 6PSF-e adopted by the Municipal Council of the City on October 4, 2017 (the "2017 Ordinance"), collectively known as the "TARN Ordinances"; and
WHEREAS, the Municipal Council of the City has previously adopted the following ordinance which authorized the issuance of bonds or notes of the City: Ordinance 6PSF-a(S) adopted by the Municipal Council of the City on March 21, 2017 (the "Notes Ordinance"); and
WHEREAS, the City intends to issue its Tax Appeal Refunding Not...
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