Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing (X) Amending
Purpose: Amending and Approving Form of Sale of City-Secured Bonds
Amount to be Financed: $15,000,000.00
Source of Appropriation: Bonds
Purchaser:
Project Information:
(Description/ Project No./ Amount Appropriated/Ordinance No.)
Additional Information:
body
RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, AMENDING RESOLUTION NO. 7R5A ADOPTED ON MARCH 19, 2014 AND ENTITLED "RESOLUTION DETERMINING THE FORM AND OTHER DETAILS OF NOT EXCEEDING $15,000,000 SEWER UTILITY BONDS, SERIES 2014, OF THE COUNTY OF ESSEX, NEW JERSEY, AND PROVIDING FOR THEIR SALE TO THE NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST AND THE STATE OF NEW JERSEY, PURSUANT TO THE 2014 NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST FINANCING PROGRAM" IN ORDER TO QUALIFY SUCH BONDS UNDER THE MUNICIPAL QUALIFIED BOND ACT.
WHEREAS, the Municipal Council of the City of Newark, in the County of Essex, New Jersey (the "City" or the "Local Unit") has adopted the bond ordinances listed on the attached Appendix A (the "Ordinances"), authorizing the issuance of bonds (the "Bonds") and bond anticipation notes of the City for the purpose of financing a portion of the sewer improvements described in the Ordinances (collectively, the "Project"); and
WHEREAS, on March 19, 2014, the City adopted Resolution. 7R5A entitled: "RESOLUTION DETERMINING THE FORM AND OTHER DETAILS OF NOT EXCEEDING $15,000,000 SEWER UTILITY BONDS, SERIES 2014, OF THE CITY OF NEWARK IN THE COUNTY OF ESSEX, NEW JERSEY, AND PROVIDING FOR THEIR SALE TO THE NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST AND THE STATE OF NEW JERSEY, PURSUANT TO THE NEW JERSEY ENVIRONMENTAL INFRASTRUCTURE TRUST FINANCING PROGRAM" (the "Bond Resolution"); and
WHEREAS, the Bond Resolution authorized the sale of the City's Bonds in an amount not exceeding $15,000,000 in order to finance ...
Click here for full text