Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Cancellation of Special Emergency Appropriation
Purpose: To cancel previously adopted ordinance which authorized a special emergency appropriation and the issuance of special emergency notes
Amount to be Financed: $0.00
Project Information:
Resolution of the City Of Newark, in the County Of Essex, New Jersey, canceling Ordinance 6PSF-a which was finally adopted by the Municipal Council on August 2, 2023
Additional Information:
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WHEREAS, the City of Newark, in the County of Essex, New Jersey (the "City"), previously adopted Ordinance 6PSF-a on August 2, 2023 entitled
"AN ORDINANCE OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY PROVIDING FOR A SPECIAL EMERGENCY APPROPRIATION OF $4,000,000.00, FOR THE PREPARATION AND EXECUTION OF A COMPLETE PROGRAM OF REVALUATION OF REAL PROPERTY FOR THE USE OF THE LOCAL ASSESSOR, PURSUANT TO THE PROVISIONS OF N.J.S.A. 40A:4-53(B)." (the "Ordinance"); and
WHEREAS, pursuant to N.J.S.A. 40A:4-53, the Ordinance authorized a special emergency appropriation of Four Million Dollars and Zero Cents ($4,000,000.00) to fund a complete program of revaluation of real property, and authorized the issuance of special emergency notes of the same amount; and
WHEREAS, the City desires to cancel the Ordinance, and the appropriation and special emergency notes authorized therein.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNCIPAL COUNCIL OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, THAT:
1. Ordinance 6PSF-a adopted on August 2, 2023, is hereby cancelled. Such cancellation shall include the cancellation of the $4,000,000.00 special emergency appropriation and the authorization of any special emergency notes.
2. This resolution shall take effect immediately.
STATEMENT
Resolution ...
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