Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Confirming Bond Sale
Amount to be Financed: $1,000,000.00
Source of Appropriation: Bonds
Purchaser: SWH Properties, LLC., 100 Washington Street, Newark, New Jersey 07102
Project Information:
(Description/ Project No./Amount Appropriated/Ordinance No.)
RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE AND SALE OF REDEVELOPMENT AREA BONDS (NEWARK WAREHOUSE URBAN RENEWAL, LLC PROJECT, SERIES 2017A) (FEDERALLY TAXABLE, NON-RECOURSE) OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, PROVIDING FOR THE FORM, MATURITIES AND OTHER DETAILS OF SAID BONDS; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A TRUST INDENTURE, A FIRST SUPPLEMENTAL INDENTURE, A BOND PURCHASE AGREEMENT, A PLEDGE AND ASSIGNMENT AGREEMENT AND SUCH OTHER DOCUMENTS AND INSTRUMENTS AS NECESSARY FOR THE ISSUANCE OF SAID BONDS.
Additional Information:
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WHEREAS, in accordance with the Local Redevelopment and Housing Law, constituting Chapter 79 of the Pamphlet Laws of 1992 of the State of New Jersey (the "State"), and the acts amendatory thereof and supplemental thereto (the "Redevelopment Law", as codified by N.J.S.A. 40A:12A-1 et seq.), the City of Newark (the "City") has previously determined to undertake the redevelopment of that certain redevelopment area in the City's downtown core as designated by the City by Resolution 7Rba adopted by the Municipal Council on July 14, 2004, as amended and extended by Ordinance 6S&Fg, adopted by the Municipal Council on September 7, 2005 (the "Downtown Core District and Newark Plaza Urban Renewal Areas" and referred to herein as the "Redevelopment Area"); and
WHEREAS, in connection with the designation of the Redevelopment Area, the City has adopted a Redevelopment Plan by Ordinance 6S&Ff finally adopted by the Municipal Council on ...
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